- Ghana Bankers Association dismisses claims of upcoming restrictions on OTC dollar withdrawals
- Response follows Isaac Adongo’s comments suggesting the BoG may tighten foreign currency controls
- Association President John Awuah confirms no directive has been issued by the central bank
The Ghana Association of Bankers has dismissed reports suggesting that banks and financial institutions in Ghana are about to impose restrictions on over-the-counter (OTC) withdrawals of foreign currencies, particularly U.S. dollars.
The clarification comes in response to recent remarks by Bolgatanga Central MP and Bank of Ghana (BoG) Board Member, Isaac Adongo, who claimed the central bank was considering tighter controls on dollar withdrawals as part of efforts to stabilize the Cedi.
However, John Awuah, President of the Bankers Association, firmly denied these claims, stating that the Bank of Ghana has not issued any such directive. He emphasized that banks continue to operate under the current legal and regulatory framework, with no changes affecting customers’ access to foreign currency.
While he acknowledged that standard due diligence measures are in place, Awuah assured the public that account holders with legitimate foreign currency needs can still withdraw funds without issue.
