The Bank of Ghana (BoG) has cautioned the public against dealing in pricing, advertising, receipting or making payments for goods and services in foreign currency without the requisite licence or authorisation.
A statement issued by BoG on Tuesday (5 April) said such violations are punishable on summary conviction, by a fine of up to seven hundred (700) penalty units or a term of imprisonment of not more than 18 months, or both.
The BoG said it is collaborating with the security agencies to clamp down on illegal foreign exchange operations.
|Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.|