The public has been reminded by the Bank of Ghana that dealings on the black market are strictly forbidden.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Bank of Ghana has reminded the public that unlicensed or unauthorised dealings in forex activities (black market transactions), pricing/quoting, advertising, issuing receipts, and receiving and/or making payments for goods and services in foreign currency, particularly the United States dollar in Ghana, are strictly prohibited under the Foreign Exchange Act, 2006 (Act 723).

It is therefore advising institutions, both public and private, and individuals engaging in such practices to immediately cease.

Source: newsthemegh.com