By: Ashiadey Dotse
The Bank of Ghana (BoG) has suspended the remittance operations of five Money Transfer Operators (MTOs) — TapTap Send, Top Connect, Remit Choice, Send App, and Afriex — for breaching the country’s remittance guidelines.
In a statement issued on Thursday, September 4, the Central Bank said the suspension will take effect from September 18, 2025, and will last for one month.
According to the Bank, the affected companies engaged in unauthorised remittance activities with payment service providers, namely Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc., through their settlement bank, UBA Ghana.
BoG explained that the breaches were against the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Notice No. BG/GOV/SEC/2025/25.
The regulator further stated that the suspended operators will only be allowed to return to business after their partner banks or payment service providers reapply for approval at the end of the suspension period.
Meanwhile, the Bank of Ghana has cautioned all foreign exchange market players to strictly comply with existing forex market regulations and guidelines.
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