The Bank of Ghana has denied allegations that it actively worked with some operatives at Cowlane in Accra to transfer money illegally overseas.

This comes after Dr. Kwabena Nyarko Otoo, Director of Research at the Trades Congress (TUC), claimed there was "proof or rising suspicion" of the aforementioned behavior.

On the Joy News TV program Newsfile on October 29, Dr. Otoo made the assertions.

But the Central Bank in a statement sighted by GhanaWeb categorically denied the allegations and also considered them as extremely reckless on the part of Dr. Kwabena Nyarko Otoo.

“We would have expected that such strong allegations would have been supported by the requisite evidence, and not left at pure conjecture, mere suspicion or hearsay. This is especially so considering the quarters from which the allegations were made,” the statement said.

“We advise the general public to completely disregard these comments and be assured that we, as a Central Bank, are focused on our mandate of price stability, and doing all within our power to reduce the rising general level of prices. We are doing this guided by our core values of accountability, professionalism and integrity, and in accordance with law,” the BoG added.

The Bank of Ghana, therefore, urged the public to desist from making such unfounded allegations in the future.

It further assured collaboration with relevant stakeholders including law enforcement agencies to discourage and penalize the activities of illegal foreign exchange operators in the country.