Bank of Ghana suspends GTB, FirstBank’s forex licences
The Bank of Ghana on Monday announced the suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN).
The suspension, effective 18 March, will run for one month.
According to a statement by the Ghanaian central bank, the suspension is in accordance with section 11 (2) of the Foreign Exchange Act 2006, (Act 723).
It said the move comes as a response to several breaches of the foreign exchange market regulations, including instances of fraudulent…