By: Alexander Afriyie
A recent statement by Isaac Adongo, a board member of the Bank of Ghana, has sparked confusion over the withdrawal of dollars from bank accounts. According to Adongo, customers can no longer withdraw dollars over-the-counter from their dollar accounts at banks.
However, the Ghana Association of Bankers (GAB) has contradicted this statement, clarifying that banks have not received any official directive from the Bank of Ghana (BoG) to suspend over-the-counter foreign currency withdrawals.
GAB Chief Executive, Mr. John Awuah, emphasized that banks take instructions from the Bank of Ghana under the pen of the Governor, not individual board members. Mr. Awuah’s statement suggests that Adongo’s comments may not reflect the official policy of the Bank of Ghana.
The conflicting statements have raised questions about the Bank of Ghana’s policy on dollar withdrawals and the potential impact on customers and the banking sector. It remains to be seen how this situation will unfold and what the official policy will be. Alexander Afriyie