THELOGICALINDIAN - The Bank of Ghana has warned businesses and the accessible adjoin the convenance of ambitious or authoritative payments in adopted bill afterwards its allotment The axial banks admonishing comes aloof over a ages afterwards Ghanas bill was rated the affliction assuming amid Africas top currencies
Violators Face Possible Prison Time
The Ghanaian axial coffer has reminded the accessible that the convenance of accepting or authoritative payments for appurtenances and casework in adopted bill after its accurate allotment is still prohibited. The coffer additionally analogously warned businesses adjoin “engaging in adopted barter business after a authorization issued by the Coffer of Ghana.”
In a statement, the Bank of Ghana (BOG) said those bent on the amiss ancillary of regulations face ample fines. Alternatively, those in abuse of the corresponding regulations face “a appellation of imprisonment of not added than eighteen (18) months or both.”
Citizens Urged to Report Violations
According to the BOG, alone the bounded currency, the cedi, is the sole acknowledged breakable in Ghana. The axial coffer additionally adumbrated it will alight on companies breaking the law and all offenders will be punished in accordance with the law. In the statement, the BOG said:
Meanwhile, in the statement, the BOG said Ghanaian citizens should address any violations of the Foreign Exchange Act to its complaints offices.
The admonishing by the BOG comes aloof over a ages afterwards the cedi, which attenuated by 8.86% amid January 1 and February 25, was called the worst-performing amid Africa’s top currencies. The cedi’s abatement comes added than a year afterwards it was rated the best-performing currency.
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