BoG lifts Access Bank suspension ban
The Bank of Ghana (BoG) yesterday lifted the suspension of Access Bank Ghana Ltd. from engaging in foreign exchange business in the West African country.
This follows a review of Access Bank’s compliance with the directives, internal control measures put in place to forestall the recurrence of the breaches as well as efforts being made to repatriate the proceeds of the illegal foreign exchange transferred.
The Bank of Ghana on 23rd July, 2012 imposed a six (6) month ban on Access Bank Ghana Limited, suspending it from undertaking foreign exchange business as a result of some violations of the Foreign Exchange Act 2006, (Act 723).
In statement issued in Accra yesterday by the Public Relations Officer of BoG, Ms Esi Hammond, BoG reminded all banks and licensed dealers in foreign exchange to comply strictly with the provisions of the Foreign Exchange Act 2006, (Act 723) and the accompanying Guidelines or face severe sanctions including prosecution.
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