BoG Governor Inaugurates Multi-Agency Committee To Probe Seized Foreign Currency

The Governor of the Bank of Ghana, Dr Johnson Asiama, says the Central Bank has inaugurated a Preliminary Investigation Committee on Seized Foreign Currency to close a serious gap in Ghana’s financial system.

In a Facebook post, Dr Asiama disclosed that the new multi-agency body was set up in response to reports that substantial amounts of foreign currency are moving through the country’s airports and border points without the required declaration.

He said the development has serious implications for the integrity of Ghana’s financial sector, noting that undeclared currency flows create room for money laundering, tax evasion and other illicit activities.

According to him, such flows also weaken the financial intelligence that authorities rely on to monitor the system.

The Governor further explained that currency that moves outside declared channels diverts funds away from the very market the Bank is working to strengthen.

He indicated that the Bank of Ghana is working alongside the Ghana Revenue Authority, the Ghana Airports Company Limited, National Security, the Economic and Organised Crime Office (EOCO), the Financial Intelligence Centre and the Attorney General’s Office to safeguard the country’s borders, markets and resources for every Ghanaian.

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