The Bank of Ghana has refuted claim by a member of its governing board Isaac Adongo that it has banned over-the-counter cash withdrawals in foreign currencies.
Speaking in an interview on JoyNews TV, the Member of Parliament for Bolgatanga Central and member of the governing board of the Central Bank claimed that the BoG had prohibited over-the-counter cash withdrawals in foreign currencies except for transactions in foreign denominations outside Ghana.
But in a statement, hours after that comment sparked reaction on social media, the BoG stated that cash withdrawals in foreign denominations from Foreign Currency Accounts and Foreign Exchange Accounts are still allowed and that it has not contemplated reviewing the existing measures allowing such transactions.
“Over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA) are still allowed.”
It added, “for non-FEA and non-FCA account holders, forex purchases for travel outside Ghana are allowed but capped at $10,000 or its equivalent per person per trip”.
“Cheques and cheque books may continue to be issued on FEA and FCA accounts.”
