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Don’t transact with these 8 money transfer organizations – BoG



The Bank of Ghana (BoG) has warned against transacting any form of business with some money transfer organizations that do not have the necessary approval from the Central Bank.

In a statement issued by the Bank on November 16, 2023, it said “there are several Money Transfer Organisations (MTOs) operating within the Remittance and the Ghana Forex Market without approval from the Bank of Ghana.

They are:

  1. LEMFI

  2. WISE







“The industry regulator noted that these operators are operating against Section 3.1 of the Foreign Exchange Act, 2006 (Act 723) which states that “a person shall not engage in the business of dealing in foreign exchange without a license issued under this Act.”

Further, by section 15.3 of the Foreign Exchange Act 2006 (Act 723), “each transfer of foreign exchange to or from Ghana shall be made through a person licensed to carry out the business of money transfers or any other authorized dealer.”

The BoG therefore noted that the “Public, Banks, Dedicated Electronic Money Issuers (DEMI) and Enhanced Payment Service Providers (EPSP) are by this Notice cautioned to desist from dealing with any of the institutions named above.”

“Approved MTOs are now reminded to terminate their foreign exchange flows through their partner institutions only and to adhere strictly to all guidelines concerning their operations.

“By this Notice, all market players are reminded of the directives above and entreated to comply accordingly,” it added.

Non-compliance will result in severe sanctions including the withdrawal of
the license of the institution in breach, the BoG added.

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Let’s live harmoniously to safeguard Ghana’s peace – Peace Council on recent clashes




The National Peace Council (NPC) has called on Ghanaians to live harmoniously with each other to safeguard the country’s peace.

It has urged Ghanaians to protect “the peace and security of the country by creating and using avenues of tolerance, cooperation, and coexistence to sustain the country’s identity as an oasis of peace in Africa.”

This follows the unfortunate violent clashes in some parts of the country which have resulted in the deaths of some citizens.

Reports from Kintampo in the Bono East Region, Nkwanta in the Oti Region, and Wenchiki in the Northeast Region indicate that violence has led to the destruction of lives and property in these affected communities.

In a statement issued on Wednesday, the NPC reminded Ghanaians “of paragraphs (c), (d) and (i) of
article 41 of the 1992 constitution of the Republic of Ghana which states thus:  The exercise and enjoyment of rights and freedoms is inseparable from the performance of duties and obligations, and accordingly, it shall be the duty of every citizen.”

“To foster national unity and live in harmony with others;  to respect the rights, freedoms and legitimate interests of others, and generally to refrain from doing acts detrimental to the welfare of other persons. To co-operate with lawful agencies in the maintenance of law and order.”

Read the full statement from the NPC here

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Defence and National Security Ministers to appear before parliament today over Kintampo clash




The Ministers of Defence and National Security are expected to appear before the Defence and Interior Committee of Parliament on Thursday, November 23, to provide a briefing on actions being taken by the government to forestall a clash between the Mo and Wangara tribes in the Kintampo North municipality.

This comes on the back of a summons by the Speaker of Parliament, Alban Bagbin.

According to the Member of Parliament for the area, Joseph Kwame Kumah, tensions were high when the Mo tribe requested to perform rituals within the months of November and December, coinciding with the annual Klubi festival of the Wangara community.

In response to calls for a ceasefire by the MP, the Speaker directed that the government must take immediate steps to ensure peaceful coexistence.

“As the first authorities to come to this house to brief the committee on Defense and Interior, this is an urgent matter that should be handled with dispatch. I think Thursday should be okay for the two ministers and their commanders to appear before the committee early tomorrow morning by 9 am to brief the committee. It is an urgent matter.”

“The National Security Council through their regional office should immediately intervene because the chieftaincy institution is one of the cornerstones of the peace and security of our country, and we hold that institution dearly. We will do everything to prevent that institution from falling into disarray,” he stated.

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Watch how Quick Credit staff violently raided restaurant over ‘unpaid loan’




Some staff of a popular loan company, Quick Credit Ghana, stormed a local restaurant to recover a loan sum.

Videos available to GhanaWeb and shared on social media showed over half a dozen male workers in violent exchanges with the staff at the restaurant said to be located at Laterbiokoshie, a suburb of Accra.

According to a person videoing the encounter, the staff had forced their way into the facility, packed up the furniture and succeeded in locking up the place before leaving.

The video, shot in the evening, however, did not show any affected customers nor did it show any casualties.

The company has yet to issue an official statement on the development. GhanaWeb is also trying to reach out to the affected businesses.

Watch the video below:

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