African News Business and Economy

BoG Suspends Five Remittance Firms

By Ajuma N / September 5, 2025

The Bank of Ghana has suspended the operations of five money transfer companies. The suspension takes effect from September 18 and will last for one month.

The affected firms are Taptap Send, Top Connect, Remit Choice, Send App, and Afriex. BoG explained that the companies breached the 2023 inward remittance guidelines. They carried out unauthorised remittance transactions with PSPs like Halges, Cellulant, and Flutterwave. UBA Ghana acted as the settlement bank in these transactions.

The companies may return to operation only after re-application through partner banks or PSPs. BoG also warned forex market players to strictly follow all rules and regulations.

About The Author

Ajuma N

See author's posts

Tags:

You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *