Bank of Ghana orders the closure one forex bureau company being operated by Nigerians, here’s why

The Bank of Ghana (BoG) has ordered the closure of a forex bureau company in the country.

Bank of Ghana orders the closure one forex bureau company being operated by Nigerians, here’s why

The company, Aero Cash forex bureau, according to the BoG, is being operated by two Nigerians in Dzorwulu, Accra.

The Head of Forex Bureau Examinations and Other Financial Institutions at the central bank, Adjoa Konadu Torto made the order following a routine check in the forex bureau companies in the country.

According to her, the move was due to failure by the operators to provide relevant documents to the Bank of Ghana to ascertain the legality of their operations.

She added the BoG realised that the operating licence of the forex bureau had expired.

The forex bureau also changed location without prior notice and approval by the Central bank and operating without residential and work permit.

The Forex bureau apart from the above infractions, she added, also refused to take data of daily transactions as prescribed by law.

"We have found out that the Forex bureau is operating illegally, the operators are not known to the Bank of Ghana and there are other non-compliant issues which we are hopeful to unravel as the investigation goes on; but at this moment, they must close down," she said.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

Why do guys still masturbate when they have girlfriends?

Why do guys still masturbate when they have girlfriends?

5 things you should never do to please a woman

5 things you should never do to please a woman

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

British MP claims she didn't know her flat was owned by the Kenyatta family

British MP claims she didn't know her flat was owned by the Kenyatta family

I spent Sh800K - Vera speaks on begging for money to fund lavish Baby shower

I spent Sh800K - Vera speaks on begging for money to fund lavish Baby shower

Shika Simu yangu bro, we need you - Eric Omondi begs Eddie Butita

Shika Simu yangu bro, we need you - Eric Omondi begs Eddie Butita

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]