BoG crackdown targets dollar-use in real estate, education sectors

Read Article

Comments (34)

This article is closed for comments.

Read Comments Comments (34)

Serwaa Broni 4 months ago

The irony is these same people have properties letting out in USD. What’s good for the goose…

The irony is these same people have properties letting out in USD. What’s good for the goose…
Padi 4 months ago

Ghanaian politicians hang out in London's luxury shopping malls. I'd recognize them from afar.

Ghanaian politicians hang out in London's luxury shopping malls. I'd recognize them from afar.
Fireman 4 months ago

Yeh but it is but to start mitigating it now than later. At least they have realized the problem and are ready to fight it

Yeh but it is but to start mitigating it now than later. At least they have realized the problem and are ready to fight it
Kwakua 4 months ago

I will continue to quote rent in dollar and take cedi forex rate equivalent
I will not stop for as long as I'm paying my groceries and medication in usd equivalent daily rate goes up and down .
I will peg my goods on dolla ...
read full comment

I will continue to quote rent in dollar and take cedi forex rate equivalent
I will not stop for as long as I'm paying my groceries and medication in usd equivalent daily rate goes up and down .
I will peg my goods on dollar and accept cedis.
No dollar in banks to import my goods.
I have to buy forex.
Think.
I'm a business wo.an and will not stop.
Cedi appreciation is just not reliable already.
Sly 4 months ago

It is overdue. Something needs to be done. All developed countries transact business in their local currency

It is overdue. Something needs to be done. All developed countries transact business in their local currency
Nsia 4 months ago

We do not need tall stories just prosecute them. Simple as that!

We do not need tall stories just prosecute them. Simple as that!
Kofi Mensah 4 months ago

I, very much, agree with you. Take the necessary action and stop talking. Ghana is not US.

I, very much, agree with you. Take the necessary action and stop talking. Ghana is not US.
Kojo 4 months ago

Exactly arrest anyone who quotes and trade in foreign currency. Its illegal fullstop

Exactly arrest anyone who quotes and trade in foreign currency. Its illegal fullstop
Francis mccarthy 4 months ago

WASHING STOLEN MONIES (Laundering) THROUGH INFRASTRUCTURE. MR ADDISON TRIED BUT DIDN’T WORK BECAUSE THEY ARE ALL INVOLVED.PERIOD

WASHING STOLEN MONIES (Laundering) THROUGH INFRASTRUCTURE. MR ADDISON TRIED BUT DIDN’T WORK BECAUSE THEY ARE ALL INVOLVED.PERIOD
OSAFO KANTANKA 4 months ago

Get those criminals engaged in Dollar-use in real essay and education etc..Arrested and prosecuted in court and long stretches of Custodial sentences slapped on them.

Get those criminals engaged in Dollar-use in real essay and education etc..Arrested and prosecuted in court and long stretches of Custodial sentences slapped on them.
Fabios 4 months ago

Stop the complains and crack the whip. How can people be pricing their products in foreign currencies. Is really annoying

Stop the complains and crack the whip. How can people be pricing their products in foreign currencies. Is really annoying
Helen 4 months ago

I thought they only quote in dollars. If they demand payment in dollars, then they should be made to face the law. My rent in Accra is quoted in dollars. I now pay less due to the cedi appreciation. I always pay in GHS.

I thought they only quote in dollars. If they demand payment in dollars, then they should be made to face the law. My rent in Accra is quoted in dollars. I now pay less due to the cedi appreciation. I always pay in GHS.
kelewele 4 months ago

The Ghanaian government is weak and doesn't have the capacity to deal with corrupt societal practices.

The Ghanaian government is weak and doesn't have the capacity to deal with corrupt societal practices.
Kwamina 4 months ago

So true!!

So true!!
Coach 4 months ago

Transnational university (Lancaster) and our very own Aeshesi university all quote in USD amongst several others.

BOG - is this notice a warning or Mantra?

Transnational university (Lancaster) and our very own Aeshesi university all quote in USD amongst several others.

BOG - is this notice a warning or Mantra?
Patriot 4 months ago

Business is not about civic responsibility or patriotism. When the BoG and the government demonstrate cedi stability over a very sustained period, 1-2 years minimum, and provides instruments for businesses to hedge their doll ...
read full comment

Business is not about civic responsibility or patriotism. When the BoG and the government demonstrate cedi stability over a very sustained period, 1-2 years minimum, and provides instruments for businesses to hedge their dollar exposure then he can make these comments. Otherwise crackdowns now will create problems for businesses, dry up investments, especially foreign investors and create an underground market that distort the cedis' value. The rapid appreciation of the cedi is mostly driven by heavy intervention by BOG in the FX market and not by real economic strength, and businesses know that is unstainable in the long run.
KGB 4 months ago

Stop complaining and enforce the law. When are going to learn as a country. Why do we let it continue? Are our leaders benefiting from the transactions in Dollars? Our problem in Ghana is the leaders, especially politicians.

Stop complaining and enforce the law. When are going to learn as a country. Why do we let it continue? Are our leaders benefiting from the transactions in Dollars? Our problem in Ghana is the leaders, especially politicians.
MARY MAVIS GYAMFIWAA 4 months ago

Okudjeto Ablakwa pays $8 thousand dollars every month as rent. Where does he get the dollars?

Okudjeto Ablakwa pays $8 thousand dollars every month as rent. Where does he get the dollars?
Unstable cedis 4 months ago

Had the cedi been stable no one will use the dollar .
If the cedi rate is different all the time then one will need a stable currency to plan his business moves and transactions hence the use of the dollar.
Reliable and u ...
read full comment

Had the cedi been stable no one will use the dollar .
If the cedi rate is different all the time then one will need a stable currency to plan his business moves and transactions hence the use of the dollar.
Reliable and unreliable.
Ghanaman 4 months ago

If I told you in the big boys market 1$ = 1GHC you won't believe but it is true.

If I told you in the big boys market 1$ = 1GHC you won't believe but it is true.
Dr who 4 months ago

Ghanaians have been using the dollar to beat the hell out of their Cedi for too long and nothing has been done to address the issue or Enforcement of any monetary rule of law.

Ghanaians have been using the dollar to beat the hell out of their Cedi for too long and nothing has been done to address the issue or Enforcement of any monetary rule of law.
kk 4 months ago

This is no news.crack the whip and stop the talks.This policy has been in place for a very long time.Just start arresting people and stop the talk.Anything that is difficult to stop means that the same people tasked with that ...
read full comment

This is no news.crack the whip and stop the talks.This policy has been in place for a very long time.Just start arresting people and stop the talk.Anything that is difficult to stop means that the same people tasked with that responsibility are also deeply involved.Think about galamsey,prostituion,money laundering,drug trafficking.
Charles 4 months ago

I can not agree with you more. Well said.

I can not agree with you more. Well said.
GhanaSweet 4 months ago

That's an exercise in futility, if the truth be told!

That's an exercise in futility, if the truth be told!
Kwesi 4 months ago

This is what irritates me with our leaders. If you know a behavior is against the law step in and put a stop to it instead of going around complaining. Use the police and the judicial system to prosecute those who are violati ...
read full comment

This is what irritates me with our leaders. If you know a behavior is against the law step in and put a stop to it instead of going around complaining. Use the police and the judicial system to prosecute those who are violating the law. It is as simple as that.
Samy Samy 4 months ago

Ghana government is weak when it comes to Law enforcement because the first criminals are the those in power and their cronies what do you expect ? The president himself has his family leaving and chiiling in Dubai many hav ...
read full comment

Ghana government is weak when it comes to Law enforcement because the first criminals are the those in power and their cronies what do you expect ? The president himself has his family leaving and chiiling in Dubai many have properties bought overseas so they trade in dóllar renting houses in dollar.
SAMMY GYAMFI ALSO GIVES HIS CHURCH COLLECTION IN DOLLARS!! 4 months ago

Are you going to crackdown on NDC assignees giving their collections in dollars like he gave to Agradaa!

Are you going to crackdown on NDC assignees giving their collections in dollars like he gave to Agradaa!
MOST FUNNY STATEMENT FROM BOG! 4 months ago

You prop up the value of the Cedi usibg US Dollars and you expect Property owners to prop up the value of their property using cedis?

Until you set the example by proping up the value of the cedi with cedis we will continu ...
read full comment

You prop up the value of the Cedi usibg US Dollars and you expect Property owners to prop up the value of their property using cedis?

Until you set the example by proping up the value of the cedi with cedis we will continue proping up our properties using US$dollars!
Madam dog 4 months ago

Stop whining and enforce the law... Why must you even talk about this

Stop whining and enforce the law... Why must you even talk about this
FunnyGhana 4 months ago

Billboards are quoting in USD

Billboards are quoting in USD
Hannan 4 months ago

;))))))) Welcome to the best sex dating site ~~>> Sexy24.mom

;))))))) Welcome to the best sex dating site ~~>> Sexy24.mom
NPP NEVER AGAIN 4 months ago

THE GHANA WE WANT!

THE GHANA WE WANT!
John Sosu Napukagu 4 months ago

What about hotels?

For easy work! Just check the prices of hotels and services apartments within 4 kilometers from the Bank Square area.

Reality and practicality.while related, are distinct concepts.

What about hotels?

For easy work! Just check the prices of hotels and services apartments within 4 kilometers from the Bank Square area.

Reality and practicality.while related, are distinct concepts.
Samurai 4 months ago

It will be interesting to see how well that goes

It will be interesting to see how well that goes

Welcome,

SIGN IN

Welcome,

RESET PASSWORD

Hello,

Terms and conditions

REGISTER

News

BoG crackdown targets dollar-use in real estate, education sectors

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (34)

Read Comments Comments (34)