Bank of Ghana Suspends CBG’s Forex Trading Licence Over Market Regulation Breaches [Video]

• The Bank of Ghana (BoG) has suspended the forex trading licence of the Consolidated Bank of Ghana (CBG)
• The BoG stated that the CBG had flouted several market regulation breaches such as anti-money laundering laws
• The Central Bank said the suspension would be lifted at the end of a 30-day period after it remedies the situation

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The Consolidated Bank of Ghana (CBG) ‘s forex trading licence has been suspended for one month starting November 26, 2024.

This was contained in a Bank of Ghana release on Tuesday, November 12, 2024.

According to the Central Bank, the suspension follows the CBG’s breach of several foreign exchange market regulations.

The suspension is thus in accordance with Section 11 (2) of the Foreign Exchange Act, 2006 (Act 723) of …