{"id":92706,"date":"2025-09-04T21:18:07","date_gmt":"2025-09-04T21:18:07","guid":{"rendered":"https:\/\/sotnews.agency\/?p=92706"},"modified":"2025-09-04T21:18:07","modified_gmt":"2025-09-04T21:18:07","slug":"bog-suspends-forex-trading-license-of-uba-ghana","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=92706","title":{"rendered":"BoG suspends forex trading license of UBA Ghana\u00a0"},"content":{"rendered":"
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The Bank of Ghana has announced that it has suspended the foreign exchange trading license of United Bank for Africa (UBA Ghana) effective September 18, 2025.<\/p>\n

The Bank of Ghana in a notice released earlier this evening, noted that the suspension is for a period of 1 month in accordance with section 11 (2 ) of the Foreign Exchange Act 2006.<\/p>\n<\/p>\n

Reasons<\/strong><\/p>\n

Bank of Ghana in statement added that the action was as a result of multiple violations of the foreign exchange market regulations.<\/p>\n

This includes \u201cUpdated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Bank of Ghana Notice No. BG\/GOV\/SEC\/2025\/25which has come to the attention of Bank of Ghana\u201d<\/p>\n

It also added that UBA Ghana conducted unauthorised remittance activities with the following Payment Service Providers(PSPs); Halges Financial Technologies Limited, Cellulant Limited and Flutterwave Inc., on behalf of Money Transfer Operators (MTOs) \u2013 Top Connect, Send App, Taptap Send, Remit Choice and Afriex.<\/p>\n

The regulator in the statement, also announced that all remittance partnerships held between UBA Ghana and DEMIs\/PSPs\/MTOs have been suspended.<\/p>\n

DEMIs\/PSPs\/MTOs that wish to engage UBA Ghana in future partnerships must re-applyafter the suspension period elapses.<\/p>\n

The Central Bank reminded the public that by this statement, it is cautioning the foreign exchange market players to adhere strictly to the applicable forex market regulations and guidelines.<\/p>\n<\/div>\n

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\"BoGThe Bank of Ghana has announced that it has suspended the foreign exchange trading license of United Bank for Africa (UBA Ghana) effective September 18, 2025.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1264,1904,12,6508,2578,7934,1978,10,9,5626,3176],"tags":[],"class_list":["post-92706","post","type-post","status-publish","format-standard","hentry","category-bank-of-ghana","category-banking-and-finance","category-business","category-comp-business","category-composition","category-forex-trading","category-hp-business-1","category-politics","category-popular","category-remittance","category-uba-ghana"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/92706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=92706"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/92706\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=92706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=92706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}