Governor of the Bank of Ghana, Dr Johnson Asiama, has disclosed that individuals are moving over $1 million in cash out of Ghana without declaring it.
He raised concerns over financial leakages and regulatory gaps in the financial system.
“People are carrying more than a million dollars out of Ghana without declaring it,” the BoG Governor said on Joy News’ PM Express.
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Dr Asiama stressed the need for stronger enforcement and collaboration with agencies like the Ghana Revenue Authority to ensure such transactions are accounted for and traceable, especially in the fight against money laundering.
“We need to set boundaries clearly so markets can function properly,” he added.
The Bank of Ghana is expected to tighten oversight to curb these unregulated cash flows and protect the integrity of Ghana’s financial system.
SA
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