Bank of Ghana warns against currency and exports

Company News of Monday, April 29, 2019

Source: Graphic.com.gh

2019-04-29

The Central Bank has warned the public against the unregistered import and export of foreign currency.

In a statement, the central bank warned that the absence of a declaration at the point of entry or exit would entail the seizure or sanction of all the instruments of control likely to be the object of criminal prosecution. .

The statement issued by the Bank of Ghana is as follows:

IMPORTING AND EXPORTING CURRENCIES (CASH MAIL)

Under the authority given to the Bank of Ghana by the Foreign Exchange Act of 2006 (ACT 723) to set rules governing the importation of foreign exchange from Ghana announces for the information of the general public that:

a. All persons coming from or going to Ghana are allowed to take away up to USD 10,000 or the equivalent in any other monetary instrument, without declaration. However, when the amount exceeds $ 10,000.00, the total amount must be reported using the currency declaration form (CDF), indicating the source and purpose of the transfer. If you have someone else who carries the currency or the monetary instrument for you, you must also declare it at the point of entry or exit.

b. The absence of declaration or misrepresentation will result in the seizure and / or confiscation of all currency or monetary instruments and may be subject to sanctions and / or criminal prosecution.

c. Monetary instruments include coins, currencies, traveler's checks and bearer instruments such as personal or cash checks, bearer shares and bonds.

re. The transportation of currency by mail or by freight is strictly prohibited. These amounts are confiscated from the State.
(SGD)

FRANCES VAN-HEIN SACKEY (MRS)
THE SECRETARY