{"id":112385,"date":"2026-01-23T17:43:28","date_gmt":"2026-01-23T17:43:28","guid":{"rendered":"https:\/\/sotnews.agency\/?p=112385"},"modified":"2026-01-23T17:43:28","modified_gmt":"2026-01-23T17:43:28","slug":"effective-regulation-and-enforcement-cannot-be-achieved-by-regulators-alone-bog-governor","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=112385","title":{"rendered":"Effective regulation and enforcement cannot be achieved by regulators alone \u2013 BoG Governor"},"content":{"rendered":"
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Governor of the Bank of Ghana, Dr Johnson Asiama, has maintained that effective regulation and enforcement in the banking and financial sectors cannot be achieved by regulators alone.<\/p>\n

He has therefore argued that there is the need for strong collaboration with all players across the ecosystem to achieve this vision.<\/p>\n

The governor made this known at the launch of the National Virtual Assets Literacy Initiative, code-named NaVALI.<\/p>\n

Dr Asiama argued that there is also the need for the entire ecosystem to be adequately prepared \u201cthrough a sound understanding of virtual asset activities, their implications, and associated risks. \u201d.<\/p>\n

This, the Governor said, \u201cunderscores an urgent need for public education, consumer protection, and regulatory preparedness. NaVALI has been designed precisely to meet this need.\u201d<\/p>\n

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What is NaVALI?<\/strong><\/p>\n

According to the Bank of Ghana, the National Virtual Asset Literacy Initiative, code-named NaVALI, is a landmark programme that signals Ghana\u2019s deliberate, responsible, and forward-looking approach to the regulation and use of virtual assets.<\/p>\n

It is a programme anchored on a simple but important principle: understand before you undertake, positioning virtual asset literacy as the foundation for a safe digital economy.<\/p>\n

NaVALI is a carefully designed initiative led by the Bank of Ghana, in collaboration with the Securities and Exchange Commission and key knowledge partners from academia and industry. It is guided by two key policy objectives.<\/p>\n

First, to strengthen institutional capacity on virtual assets and enabling technologies, particularly blockchain, to support effective regulation, supervision, and policy formulation.<\/p>\n

Second, to promote nationwide awareness of the risks and implications of virtual assets, to discourage uninformed usage and risky adoption.<\/p>\n

Industry support<\/strong><\/p>\n

The Bank of Ghana Governor at the launch also commended virtual asset industry players and all stakeholders who contributed to the development of the initiative, adding that \u201cyour collaboration underscores the shared responsibility required to build a resilient and well-informed virtual asset ecosystem in Ghana.\u201d<\/p>\n

He stressed that successful implementation will require sustained collaboration between regulators, industry players, educators, civil society, and the media.<\/p>\n

Dr Asiama further noted that the launch of NaVALI \u201cis not an end, but a beginning. It is the foundation upon which effective regulation, consumer protection, and sustainable innovation in virtual assets will be built.\u201d<\/p>\n

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