The Acting Rent Commissioner, Frederick Opoku, has expressed concern over the practice of charging rent in foreign currencies in Ghana, describing the trend as illegal and a sign of growing indiscipline in the economy.

Speaking on JoyNews’ Super Morning Show on Tuesday, May 12, 2026, Opoku questioned why some landlords continue to advertise properties and demand rent payments in US dollars despite the Ghana cedi being the country’s official legal tender.

“Do we spend dollars in Ghana? No. Therefore, that’s where the lawlessness comes from,” he stated.

According to him, the open display of rental prices in dollars reflects weak enforcement of existing financial regulations and encourages disregard for the country’s laws.

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Opoku lamented that some property owners openly quote large sums in foreign currencies without facing any consequences.

“We are bold enough to come on television and say one million dollars, three million dollars, and go with impunity,” he said.

He disclosed that the Rent Control Department is currently engaging the Financial Markets Department of the Bank of Ghana in a bid to address the growing dollarisation of the property market.

Authorities have repeatedly cautioned businesses and landlords against demanding payment in foreign currencies for local transactions unless expressly permitted by law.

Opoku further explained that although the Bank of Ghana has issued directives prohibiting the pricing of goods and services in foreign currencies without prior approval, enforcing the regulations remains a challenge.

The issue of dollarisation has long been a concern for regulators and policymakers, particularly during periods of cedi depreciation and economic uncertainty.

SO/MA

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