The Bank of Ghana (BoG) has reinstated the foreign currency trading licence of Consolidated Bank Ghana (CBG) as of December 4, 2024.With this reinstatement, CBG has fully resumed offering foreign currency services across its branches.

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In November 2024, the BoG suspended CBG’s Foreign Exchange Trading Licence for one month under Section 11(2) of the Foreign Exchange Act, 2006 (Act 723) due to multiple violations of foreign exchange market regulations.The BoG indicated that the licence would be restored after the suspension if CBG implemented effective measures to comply strictly with market regulations.

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Following the restoration, CBG announced that customers can now access its full range of foreign exchange services.“Over the past weeks, we have worked closely with the regulator, to address all regulatory requirements, resulting in the restoration of our foreign currency trading licence.

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Customers can now access our comprehensive foreign exchange services, including buying and selling of foreign currencies, at all CBG branches nationwide,” CBG stated.Meanwhile, CBG stated that it regrets any inconveniences the suspension may have caused to its valued customers, adding that it deeply appreciates the patience and continued trust of customers.

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“At CBG, we value all our stakeholders and remain committed to providing our cherished customers with simple, secure and differentiated banking experience, while ensuring regulatory compliance,” CBG added.

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