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Business News of Thursday, 30 September 2021

Source: www.ghanaweb.com

Flashback: Air Force to airlift money to banks - BoG Governor

Bank of Ghana Governor, Ernest Addison Bank of Ghana Governor, Ernest Addison

Some twelve months ago, the Governor of the Bank Ghana revealed that his outfit has held deliberations with top hierarchy of the Ghana Armed Forces for the airlifting of money to financial institutions by the Ghana Air Forces.

Dr Addison said that the initiative was geared towards reducing the spate of robbery of bullion vans in the country.

He disclosed further that makeshift bullion vans were going to be phase out and allow only fortified ones to engage in the business of transporting money

Read the full story originally published on September 30, 2020 by rainbowradio.

Governor of the Bank of Ghana Dr Ernest Addison has announced that the central bank has reached an agreement with the Ghana Air Force to use its fleet, comprising helicopters and aircraft, to airlift money for banks and other financial institutions across the country.

According to the governor, the agreement forms part of efforts by the central bank to reduce the incidence of armed robbery on vehicles transporting money for financial institutions nationwide.

He further announced that discussions were also underway for the BoG to make its fleet of bullion vans available to financial institutions for the purpose of circulating specie (cash).

He explained that the bullion vans would replace the makeshift bullion vans that the banks and financial institutions used to move specie around the country.

He was responding to a question on how the bank intends to address the recent attacks on bullion vans.

“It is a matter that the BoG has taken seriously. We have quite a good fleet of bullion vans and I am asking them to see how we can collaborate with the banks so that we can have a more secure way of transporting money around the country,” the governor said.

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