Support BoG To Make Cedi Strong – Elsie

Mrs. Elsie Awadzie

THE SECOND Deputy Governor of the Bank of Ghana, Elsie Addo Awadzie has appealed to stakeholders to support Bank of Ghana to clamp down on illegal forex operators in order to reduce the continuous depreciation of the cedi.

Speaking at a sensitisation workshop for members of the Committee for Co-operation between Law Enforcement Agencies and Banking community members (COCLAB), she said to ensure the stability of the cedi, stakeholders in the financial sector by strictly enforcing existing rules for compliance by the licensed operators.

She said “I strongly appeal to your good selves to support Bank of Ghana’s effort to sanitise Bank of Ghana’s effort to sanitise the forex Bureaus sector by strictly enforcing existing rules for the fair and transparent conduct of businesses by licensed forex bureaus and by clamping down on illegal forex operations while the Bank of Ghana regulates the sector.”

“We count on your cooperation now especially now more than ever to help restore order and fair pricing to promote the cedi’s stability.”

Her appeal follows a recent announcement by the Bank of Ghana to close down licensed forex bureaus which have failed to comply with the foreign exchange laws, a move the BoG has instituted to curb activities of forex operators.

By Ebenezer K. Amponsah