Bank of Ghana lifts CBG forex ban

Consolidated Bank Ghana (CBG) customers can breathe a sigh of relief as the bank resumes its foreign exchange trading operations.

This comes after the Bank of Ghana (BOG) lifted a temporary suspension of CBG’s forex trading license due to regulatory non-compliance issues.

According to a statement released by CBG management on Friday, December 6, 2024, the bank has addressed all concerns raised by the regulator, leading to the swift reinstatement of its license on December 4th.

“We are pleased to announce the restoration of our foreign currency trading license by the Bank of Ghana,” the statement reads. “Following close collaboration with the regulator, we have addressed all compliance issues and are now fully operational, offering our comprehensive suite of foreign exchange services at all branches nationwide.”

Customers who rely on CBG for buying and selling foreign currencies can now return to their branches for these essential financial transactions. The bank acknowledges the inconvenience caused by the suspension and expresses its sincere gratitude to its customers for their patience and continued trust.

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“CBG prioritizes customer satisfaction and regulatory compliance in equal measure,” the statement emphasizes. “We remain committed to providing a simple, secure, and differentiated banking experience while adhering to the highest regulatory standards.”

Read full statement below:

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