BoG bans dollar pricing for school fees, rent, airline tickets and others

Read Article

Comments (67)

This article is closed for comments.

Read Comments Comments (67)

TEACH IN CANADA. 3 months ago

TEACH IN CANADA

An International NGOs based CANADA need both qualified and unqualified teachers who can teach orphans and disabled children basic ( English, Maths, Science & IT)
The NGOs are paying for the expenses inclu ...
read full comment

TEACH IN CANADA

An International NGOs based CANADA need both qualified and unqualified teachers who can teach orphans and disabled children basic ( English, Maths, Science & IT)
The NGOs are paying for the expenses including the plane tickets, Very good salary and incentives .

Working Visa and Accommodation 100% guarantee

No Charges No Deposit
Contract Duration: 4 Years (Renewable)
Monthly Salary: $1900-$3500 (Depending on qualifications)
Qualifications: WASSCE and Above

10% will be deducted monthly from the salary up to 12months
Opportunity to study Part Time On Scholarship

Contact:
Office: 0302 948484
Mobil: 050 295 7458 .
Kabokabo 3 months ago

Sir have you spoken to Sammy Gyamfi?
His dollar woman is convicted now.
The man in charge of Ghana Gold displayed DOLLARS in public and none of the NDC gurus disciplined him publicly.

Sir what measures are you putting do ...
read full comment

Sir have you spoken to Sammy Gyamfi?
His dollar woman is convicted now.
The man in charge of Ghana Gold displayed DOLLARS in public and none of the NDC gurus disciplined him publicly.

Sir what measures are you putting down to buy internation airline tickets in Cedis?
WHITE ELEPHANT
WE WILL FORGE THE DOCUMENTS - ABOCHI THE BLACK MARKET TRADER WHO EXCHANGE MY DOLLAR NO GET RECEIPT SO WHAT SHOULD I DO??? 3 months ago

THOSE OF US WHO HAVE BEEN TRADING WITH ABOCHI THE BLACK MARKET TRADER, HOW AND WHERE ARE WE GOING TO GET THAT BANK SLIP WITH A STAMP? WELL, WE WILL FORGE ONE!

THOSE OF US WHO HAVE BEEN TRADING WITH ABOCHI THE BLACK MARKET TRADER, HOW AND WHERE ARE WE GOING TO GET THAT BANK SLIP WITH A STAMP? WELL, WE WILL FORGE ONE!
JESUS IS GOD 3 months ago

Jesus Christ loves you and wants to save you from sin and its consequences. Vanity upon vanity—everything in this world is meaningless without Him. He died on the cross for your sins, was buried, and rose again on the third ...
read full comment

Jesus Christ loves you and wants to save you from sin and its consequences. Vanity upon vanity—everything in this world is meaningless without Him. He died on the cross for your sins, was buried, and rose again on the third day. Believe in Him, accept His gift of forgiveness, and receive eternal life! (John 3:16).hfnfn
May 3 months ago

If someone is inequality how is he or she going to teacher and with which experienced

If someone is inequality how is he or she going to teacher and with which experienced
Kelvin 3 months ago

You are really working!!

You are really working!!
JAY 3 months ago

THIS IS NOTHING NEW!!!MY ISSUE IS HOW DOES BOG ENFORCE THIS DIRECTIVES???BOG MUST REATHER STRENGTHEN THE VALUE of the cedi to make it more attractive to Ghanaians who prefer foreign currencies LIKE the DOLLAR,EURO,POUND,ETC E ...
read full comment

THIS IS NOTHING NEW!!!MY ISSUE IS HOW DOES BOG ENFORCE THIS DIRECTIVES???BOG MUST REATHER STRENGTHEN THE VALUE of the cedi to make it more attractive to Ghanaians who prefer foreign currencies LIKE the DOLLAR,EURO,POUND,ETC ET
KOFI 3 months ago

This is long over due. I don't believe that they should have announced this is the first place.

There is no country in the world where a foreign legal tender can be used. It is on our books already that it is only the Cedi ...
read full comment

This is long over due. I don't believe that they should have announced this is the first place.

There is no country in the world where a foreign legal tender can be used. It is on our books already that it is only the Cedi that can be used in transacting business in the country legally, so why this announcement?

Just go round, arrest and prosecute some people vigorously and this nonsense will stop. It is the law. The law is the law.

Just go to India or Brazil and try to transact business in $ or £. Your backside will be somewhere very new to you.

Nkwasiasem. Stop announcing these things. Just use some mystery shoppers in some hotels and boutiques as they transact business in a foreign currency then arrest and prosecute them. The message will filter through better.
Shamsi Waleed 3 months ago

@Kofi stop lying. Dollars are used in India and Brazil like how it is used in Ghana. These places are top tourist destinations. Nothing will happen sia

@Kofi stop lying. Dollars are used in India and Brazil like how it is used in Ghana. These places are top tourist destinations. Nothing will happen sia
KOFI 3 months ago

You can't throw around untruths to justify your views or wishes. Just read trip advisor pages first to educate your pea head.

I have loads of Indian Students in London who say this very thing too.

You don't know jack ab ...
read full comment

You can't throw around untruths to justify your views or wishes. Just read trip advisor pages first to educate your pea head.

I have loads of Indian Students in London who say this very thing too.

You don't know jack about these issues so you insult first.

Go read too on why their Rupee is stable. Among their ability to produce more is their clamp down on the use of foreign currency.
KOFI 3 months ago

@JAY Naa, the act is illegal in the first place so we should not make the currency attractive before people stop transacting business in the country with another currency.

Indeed it is one of the arsenals in our tool box t ...
read full comment

@JAY Naa, the act is illegal in the first place so we should not make the currency attractive before people stop transacting business in the country with another currency.

Indeed it is one of the arsenals in our tool box that can be used in straightening our cedi - monetary policy. You can't do that in the US. You will not even try to use the £ there. Just try.

Its a cop out. You and i passed the law that we should use ONLY GHC as legal tender so we should not fragrantly break the law. We should have respect for ourselves.

Serious countries like Malaysia do not make such nonsense announcements, just try.
.mr amin 3 months ago

Good but enforce it seriously Ghana had been taken for a ride in a long time BoG protect the value of the cedi it's key to the economy

Good but enforce it seriously Ghana had been taken for a ride in a long time BoG protect the value of the cedi it's key to the economy
ME 3 months ago

What about the port? Why is GoG pricing duties in $$$$?

What about the port? Why is GoG pricing duties in $$$$?
Kobea Augustine 3 months ago

You have speak my mind bro what about Tema Harbour ? Mr minister

You have speak my mind bro what about Tema Harbour ? Mr minister
Lash 3 months ago

They're choosing and picking what goes invtheir faviur. The pott duties are in follars but you expect pricing to be in cedis. Ofui.

They're choosing and picking what goes invtheir faviur. The pott duties are in follars but you expect pricing to be in cedis. Ofui.
Madam dog 3 months ago

Long overdue..

Long overdue..
Albert 3 months ago

Talks Only No Actions (NATO). Walk the talk. Start prosecuting those who have violated the directive. Prove to us that you are serious with your words.

Talks Only No Actions (NATO). Walk the talk. Start prosecuting those who have violated the directive. Prove to us that you are serious with your words.
Albert 3 months ago

Correction: No Actions Talks Only (NATO). Walk the talk. Start prosecuting those who have violated the directive. Prove to us that you are serious with your words.

Correction: No Actions Talks Only (NATO). Walk the talk. Start prosecuting those who have violated the directive. Prove to us that you are serious with your words.
Threat if Firing Squad Did not Scare the Money Changers and You Think Prison Will? 3 months ago

Even the much feared gun-totting Rawling's AFRC regime was finally defeated by the black market forex dealers and liberalised their operations.

And you think these bunch of hungry NDC aparathciks can deafeat the money-chan ...
read full comment

Even the much feared gun-totting Rawling's AFRC regime was finally defeated by the black market forex dealers and liberalised their operations.

And you think these bunch of hungry NDC aparathciks can deafeat the money-changers.

If even the threat of firing squad did not defeat the black marketters you think the threat of prison will?
KOFI 3 months ago

Correct. They should stop making this BS announcements. It is illegal so why disturb us with such an announcement?

Correct. They should stop making this BS announcements. It is illegal so why disturb us with such an announcement?
MARKET FORCES WILL ALWAYS TRUMP OVER POPULIST PROPAGANDA! 3 months ago

Assiamah, you're inadvertently nurturing a thriving black market in foreign currency, a challenge even the notorious Rawlings regime couldn't tame. They eventually succumbed to market forces and formalized these operations in ...
read full comment

Assiamah, you're inadvertently nurturing a thriving black market in foreign currency, a challenge even the notorious Rawlings regime couldn't tame. They eventually succumbed to market forces and formalized these operations in 1985. It seems you've not learned from history.

Dr. Let's revisit the 80s. Until you implement policies to boost the economy and increase exports, businesses will continue to quote prices and accept receipts in dollars to hedge against the weak Cedi. If the Cedi is as strong as your government claims, why do businesses still quote in dollars? Because those operating in the real world know the Cedi's current value is a temporary fix and won't last. They're preparing for the inevitable devaluation by quoting and accepting dollars.

You can't stop businesses from quoting in dollars; it's a market response to economic instability. Just like Delta Airways can demand dollars for tickets, and people desperate to travel will pay. The market dictates, and you can't outrun it. If you don't want to pay in Dollars between start walking from Chorkor beach to New York!
KOFI 3 months ago

@MARKET FORCES WILL ALWAYS TRUMP OVER POPULIST PROPAGANDA! You have taken me to my Uni days. Monetary policy analysis and evaluations.

We have moved on from Rawlings time. We now live in the era of technology and skill.
...
read full comment

@MARKET FORCES WILL ALWAYS TRUMP OVER POPULIST PROPAGANDA! You have taken me to my Uni days. Monetary policy analysis and evaluations.

We have moved on from Rawlings time. We now live in the era of technology and skill.

If there is political will, the BoG will stop this trading in foreign currency within one week. Ah, get 3 people, prosecute them vigorously and see if they will not stop.

They use the black market, lose money then you prosecute the one who also lost money and they will see it is not worth it.

Thew Chinas, Brazils, Malaysias, Vietnam's are not using all these economic theories. Even London School of Economics have thrown out some of the textbooks on economics theory. University College London have their research side and their professional side on various business courses because of such reasons. I know these things for sure.

These universities have seen that their theories are not working anymore.

Please go check Nepal. They are growing very quick and a lot of outsourced businesses are moving there. They continue to sanitise their business environment. That is why their economy is thriving. Today, they send their children to some of the professional schools in the UK and these guys go back to use their talents.

Just prosecute vigorously a few people in a court of competent jurisdiction and see if it will not stop.
James 3 months ago

Mr Governor,

Charity begins at home. Can I ask if the government will stop valuing imports in USD/£/Euros before converting them for the cedis equivalent to be paid in cedis?
What is good for the goose is also good f ...
read full comment

Mr Governor,

Charity begins at home. Can I ask if the government will stop valuing imports in USD/£/Euros before converting them for the cedis equivalent to be paid in cedis?
What is good for the goose is also good for the gander.
You cannot absolve the government and apply this only to individuals and non-governmental institutions.
NO DOUBLE STANDARDS
KOFI 3 months ago

@James THANK YOU!!!!!!!!!!

@James THANK YOU!!!!!!!!!!
Accranie 3 months ago

@Governor Cut Some Slack For The Comment Section/ Gh Has A Maths Problem/& The Problem Is That It Imports Almost Every Products Needed To Make Life Bear

@Governor Cut Some Slack For The Comment Section/ Gh Has A Maths Problem/& The Problem Is That It Imports Almost Every Products Needed To Make Life Bear
Accranie 3 months ago

Able For It's People/ Since It(Gh)Doesn't Have Manufacturing Capacity / This Imports Of Finished Products Is Paid For By Income It(Gh) Earns Exporting Natural Commodities

Able For It's People/ Since It(Gh)Doesn't Have Manufacturing Capacity / This Imports Of Finished Products Is Paid For By Income It(Gh) Earns Exporting Natural Commodities
Accranie 3 months ago

But There Are Two Factors Posing Existential Concern For The Nation
-Growing Populaion
-Finite Exportable Commodities

But There Are Two Factors Posing Existential Concern For The Nation
-Growing Populaion
-Finite Exportable Commodities
Accranie 3 months ago

The Single Biggest Factor Contributing To Gh Deteriorating fx Position Is That The Rate Of Population Growth Is OutPacing The Rate Natural Resources Are Discovered / To Earn fx

The Single Biggest Factor Contributing To Gh Deteriorating fx Position Is That The Rate Of Population Growth Is OutPacing The Rate Natural Resources Are Discovered / To Earn fx
Accranie 3 months ago

To Pay For Imports

To Pay For Imports
KOFI 3 months ago

Massa, China did not wait to build capacity. Malaysia, Vietnam, Brazil did not wait to build capacity.

They were firm. Ah, we say the law is the law but we tacitly support law breaking.

Today, there is social media, p ...
read full comment

Massa, China did not wait to build capacity. Malaysia, Vietnam, Brazil did not wait to build capacity.

They were firm. Ah, we say the law is the law but we tacitly support law breaking.

Today, there is social media, prosecute a few and plaster it on the media and see if it will not stop.

If the elites and politically corrupted have an interest in dealing in foreign currency and ordinary people sit aloof we can't resort to theory.

These theories don't work these days.
Be wise 3 months ago

These are Service fees charged by National Accreditation Board foreign currency.
Institutional Registration Fee – Foreign- £3,600.00
Database Fee (Listing – Foreign)- £3,600.00

These are Service fees charged by National Accreditation Board foreign currency.
Institutional Registration Fee – Foreign- £3,600.00
Database Fee (Listing – Foreign)- £3,600.00
KOFI 3 months ago

Yes because the elites there have an interest.

Yes because the elites there have an interest.
Sammy 3 months ago

Only in Ghana this nonsense goes on, Long Over Due.

Only in Ghana this nonsense goes on, Long Over Due.
KOFI 3 months ago

THANK YOU. I don't know why people are writing theories they have studied in lecture halls.

THANK YOU. I don't know why people are writing theories they have studied in lecture halls.
Prudhomme - Stop this foolishness, BoG 3 months ago

Why does the government express projects and loans in USD? This directive has been there for decades, from government to government, but no one regards it due to the bullshit it represents. NOTHING NEW!

You all have just r ...
read full comment

Why does the government express projects and loans in USD? This directive has been there for decades, from government to government, but no one regards it due to the bullshit it represents. NOTHING NEW!

You all have just run out of ideas. Why are our import duties tied to the USD? TOO MUCH FOOLISHNESS IN GHANA!
Kwame Acheampong CTX 3 months ago

None of this will happen. In Accra, all the homes in the prestigious areas priced in dollars are owned by government officials or big men affiliated with them. Same with the luxury cars also advertised in dollars. They will t ...
read full comment

None of this will happen. In Accra, all the homes in the prestigious areas priced in dollars are owned by government officials or big men affiliated with them. Same with the luxury cars also advertised in dollars. They will talk and nothing will change.
I’m sure the governor himself has friends currently listing cars, homes and apartments for sale right now. All of us right now can click on the real estate ads on Ghanaweb and see that they are all quoted in dollars. This article is meanwhile on ghanaweb.
All talk so why bothering us with this?
Kwaku 3 months ago

Demand and Supply, baby.

Demand and Supply, baby.
KK 3 months ago

This is going no where because it will be paid in equivalent which will sum up to the same thing

This is going no where because it will be paid in equivalent which will sum up to the same thing
Kwame Opoku Kumasi 3 months ago

Yes now we have a governor

Yes now we have a governor
PK 3 months ago

Good news and it’s long overdue

Good news and it’s long overdue
Pelicles. 3 months ago

If the previous government did come out with this directive, NDC would have asked Ghanaians to resist but do they hear any resistance from NPP? Yes, we are building a nation, and it should be all hands-on deck. It doesn't mak ...
read full comment

If the previous government did come out with this directive, NDC would have asked Ghanaians to resist but do they hear any resistance from NPP? Yes, we are building a nation, and it should be all hands-on deck. It doesn't make sense to price anything in Ghana in dollars because we have our own currency, the "CEDI" and that should be the only "Legal Tender" in Ghana.

Shame on NDC.
Just me 3 months ago

They should not only say it but also enforce it. Let your word be respected. Don't jusy say it while u see things go the opposite direction.

They should not only say it but also enforce it. Let your word be respected. Don't jusy say it while u see things go the opposite direction.
Kwame panin 3 months ago

South Africa did the same and it has not helped

South Africa did the same and it has not helped
Kwame panin 3 months ago

The Rand has moved from 7 to more than 17 to the usd.

The Rand has moved from 7 to more than 17 to the usd.
Truth 3 months ago

Will it work? Do something about the abokyi people ...and adopt the Dubai exchange system

Will it work? Do something about the abokyi people ...and adopt the Dubai exchange system
Wahala 3 months ago

Ghana dollar pricing is a joke oo. It has been illegal to do dollar pricing for long long time but no one minds that one. No body follows or listen to dey law oo. BOG is like everything in Ghana and erbody will still require ...
read full comment

Ghana dollar pricing is a joke oo. It has been illegal to do dollar pricing for long long time but no one minds that one. No body follows or listen to dey law oo. BOG is like everything in Ghana and erbody will still require dollar because we don't respect our own currency, we respect dey dollar. So people will continue to pay school fees, and rent in dollar cos dey people be wicked oo, wahalli
Shamsi Waleed 3 months ago

Do people actually pay these services in dollar bills or cedi equivalences?

Do people actually pay these services in dollar bills or cedi equivalences?
KoBakor 3 months ago

If I have heard this once I have heard it thousand times. What sanctions Sir, do you intend imposing on breakers of this hackneyed law? And are you prepared to name and shame any individual or organization that breaks the law ...
read full comment

If I have heard this once I have heard it thousand times. What sanctions Sir, do you intend imposing on breakers of this hackneyed law? And are you prepared to name and shame any individual or organization that breaks the law? All mouth no trousers as the saying goes.
Kobea Augustine 3 months ago

What about Tema Harbour

What about Tema Harbour
Billy Bones 3 months ago

U are just joking,what the airlines do is they charge the fares in dollar equivalent to cedis,and concerning estate developers,if the transaction is done in a bedroom how are you people going to know.....u haven't seen anythi ...
read full comment

U are just joking,what the airlines do is they charge the fares in dollar equivalent to cedis,and concerning estate developers,if the transaction is done in a bedroom how are you people going to know.....u haven't seen anything yet
Kwame Angel 3 months ago

Jokers! Who says when they receive the cedis, they will go and bank them? Schools, landlords, airlines will all go to the open markets to convert their cedis to other less volatile currencies. It is just as good as if the ind ...
read full comment

Jokers! Who says when they receive the cedis, they will go and bank them? Schools, landlords, airlines will all go to the open markets to convert their cedis to other less volatile currencies. It is just as good as if the individual goes to the forex bureau to change the money and pay his/her liabilities.
So Clean 3 months ago

This is what they say when they are failing the economy

This is what they say when they are failing the economy
Kojo 3 months ago

Well overdue. They say it and dont act on it. Ì

Well overdue. They say it and dont act on it. Ì
Abrahams benjamin 3 months ago

Am proud of you governor. This nonsense doesn't happen in south africa. Is it because out country is a nonsense one. I will personally report such unpatriotic activity to the police as soon as I get an info on that.
I love y ...
read full comment

Am proud of you governor. This nonsense doesn't happen in south africa. Is it because out country is a nonsense one. I will personally report such unpatriotic activity to the police as soon as I get an info on that.
I love you BOG.
You are working. Keep it up
Isaac 3 months ago

Black market is still flourishing. Are they untouchable?

Black market is still flourishing. Are they untouchable?
ANA 3 months ago

What about ULAG who is widely known for dollariziing school fees for foreign students? Are the authorised Mr governor?

What about ULAG who is widely known for dollariziing school fees for foreign students? Are the authorised Mr governor?
ANA 3 months ago

Are they authorized? I mean they authorities in that institution.

Are they authorized? I mean they authorities in that institution.
ANA 3 months ago

The University of Ghana to be precise

The University of Ghana to be precise
Bonus Baba 3 months ago

There should never have been an idiotic policy like this ever in our History. I am beginning to believe what Trump said. I quote, I am not a dictator but many people would like a dictator. Yes Ghana needs a dictator. N ...
read full comment

There should never have been an idiotic policy like this ever in our History. I am beginning to believe what Trump said. I quote, I am not a dictator but many people would like a dictator. Yes Ghana needs a dictator. No nonsense type of President. Too many BS has taken beautiful Kwame Nkrumah's peoples country into this mess
Mhl 3 months ago

NIA is currently pricing Ghana card issuance in dollars for foreigners. Let the government start enforcing this in our state institution

NIA is currently pricing Ghana card issuance in dollars for foreigners. Let the government start enforcing this in our state institution
RENA 3 months ago

Just recently our finance minister was explaining the rise in purchase of cocoa per tonne in USD

Just recently our finance minister was explaining the rise in purchase of cocoa per tonne in USD
Warrior 3 months ago

Delta airline wanted passengers to pay fees in dollars in KIA very strange.

Delta airline wanted passengers to pay fees in dollars in KIA very strange.
Concerned Ghanaian 3 months ago

Then the government should also stop quoting Budget allocation figures in dollars. Everything in the Budget must be in cedis.

Then the government should also stop quoting Budget allocation figures in dollars. Everything in the Budget must be in cedis.
Kwasi 3 months ago

Comedian Governor.I believe he has just descended from heaven.

Comedian Governor.I believe he has just descended from heaven.
Busiah 3 months ago

Good but it is you people carry dollars not common people please

Good but it is you people carry dollars not common people please
John 3 months ago

That's is the black colour foolish useless man. Only the talking. You yourself do business in dollars but want others not to do. Check yourself and your boss who gave you the position and your other colleagues in such positio ...
read full comment

That's is the black colour foolish useless man. Only the talking. You yourself do business in dollars but want others not to do. Check yourself and your boss who gave you the position and your other colleagues in such positions first and stopped that unnecessary bragging.
Ben 3 months ago

Congratulations BOG for this initiative, I fully support this move 100%. Please ensure its enforced.
The second thing is, do not stop the open market operations on the monetary policy of pumping more dollars into the market ...
read full comment

Congratulations BOG for this initiative, I fully support this move 100%. Please ensure its enforced.
The second thing is, do not stop the open market operations on the monetary policy of pumping more dollars into the market to bring the price of the dollar down.
Don't be scared of IMF.
If the price of dollars come down to like say one dollar to 1 cedi, IMF loan will be cheaper to pay off. 3Billion dollars will become 3Billion cedis.

Thank You governor.

Regards

Welcome,

SIGN IN

Welcome,

RESET PASSWORD

Hello,

Terms and conditions

REGISTER

Business

BoG bans dollar pricing for school fees, rent, airline tickets and others

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 (67)

Read Comments Comments (67)