The Bank of Ghana (BoG) has addressed growing public concern following comments made by a board member and Bolgatanga Central MP, Isaac Adongo.
Adongo suggested that the Bank may implement tighter restrictions on over-the-counter (OTC) U.S. dollar withdrawals from banks and financial institutions.
Ahead of his appearance on PM Express with Evans Mensah, Mr. Adongo indicated that the Central Bank was considering significant limitations on OTC dollar withdrawals to help stabilize the Ghanaian cedi.
“If you deposit your dollars in a bank account, that’s perfectly fine. We’re okay with that. You can only withdraw dollars if you’re using them for a transaction in dollars,” he explained.
He also highlighted the Central Bank’s regulatory authority, stating, “The role of the Bank of Ghana includes overseeing the use of our national currency. When you request dollars, we will provide cedis instead.”
In response to these comments, the Bank of Ghana quickly issued an official statement, assuring the public that no changes have been made to the current foreign exchange regulations.
