{"id":4531,"date":"2019-10-10T14:07:59","date_gmt":"2019-10-10T14:07:59","guid":{"rendered":"https:\/\/www.africa-press.com\/ghana\/?p=4531"},"modified":"2019-10-10T14:07:59","modified_gmt":"2019-10-10T14:07:59","slug":"bog-orders-closure-of-illegal-forex-bureau","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau","title":{"rendered":"BoG orders closure of \u2018Illegal\u2019 Forex Bureau"},"content":{"rendered":"<p><strong>The Bank of Ghana (BoG) on Tuesday ordered the closure of Aero Cash forex bureau operated by two Nigerians in Dzorwulu, Accra.<\/strong><\/p>\n<p><strong>This is due to failure by the operators to provide relevant documents to the Bank of Ghana to ascertain the legality of their operations.<\/strong><\/p>\n<p>A team from the Other Financial Institutions Supervision Department of the Bank of Ghana, on routine checks, realised that the operating license of the forex bureau had expired.<\/p>\n<p>The forex bureau also changed location without prior notice and approval by the Central bank and operating without residential and work permit.<\/p>\n<p>Head of the operations, Adjoa Konadu Torto ordered the operators to shut the business immediately and report to the Bank of Ghana Wednesday morning for further investigations and action.<\/p>\n<p>JoyBusiness has gathered that the Forex bureau apart from the above infractions also refused to take data of daily transactions as prescribed by law.<\/p>\n<p>\u201cWe have found out that the Forex bureau is operating illegally, the operators are not known to the Bank of Ghana and there are other non-compliant issues which we are hopeful to unravel as the investigation goes on; but at this moment, they must close down,\u201d Adjoa Konadu Torto told JoyBusiness.<\/p>\n<p>One of the Directors of the forex bureau, Alhassan Nurudeen promised to work with the BoG by honouring the invitation.<\/p>\n<p>Tuesday\u2019s operation is part of the efforts by the central bank to regulate the flow of foreign currency in the country and also to ensure that the country\u2019s financial laws are obeyed.<\/p>\n<p>The team continued to some real estate operators that were also pricing in foreign currency to enforce the law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana (BoG) on Tuesday ordered the closure of Aero Cash forex bureau operated by two Nigerians in Dzorwulu, Accra. This is due to failure by the operators to provide relevant documents to the Bank of Ghana to ascertain the legality of their operations. A team from the Other Financial Institutions Supervision Department [&hellip;]<\/p>\n","protected":false},"author":66,"featured_media":4532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[793,939,3013],"class_list":["post-4531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-accra","tag-bank-of-ghana-bog","tag-two-nigerians-in-dzorwulu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BoG orders closure of \u2018Illegal\u2019 Forex Bureau - Ghana<\/title>\n<meta name=\"description\" content=\"The Bank of Ghana (BoG) on Tuesday ordered the closure of Aero Cash forex bureau operated by two Nigerians in Dzorwulu, Accra.This is due to failure by the operators to provide relevant documents to the Bank of Ghana to ascertain the legality of their operations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG orders closure of \u2018Illegal\u2019 Forex Bureau\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana (BoG) on Tuesday ordered the closure of Aero Cash forex bureau operated by two Nigerians in Dzorwulu, Accra.This is due to failure by the operators to provide relevant documents to the Bank of Ghana to ascertain the legality of their operations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-10T14:07:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/2019\/10\/432273754_362225.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"230\" \/>\n\t<meta property=\"og:image:height\" content=\"191\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"francis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"francis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau\"},\"author\":{\"name\":\"francis\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/3687592f7713dc6c826cf5bbd0e55bca\"},\"headline\":\"BoG orders closure of \u2018Illegal\u2019 Forex Bureau\",\"datePublished\":\"2019-10-10T14:07:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau\"},\"wordCount\":280,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/2019\/10\/432273754_362225.jpg\",\"keywords\":[\"Accra\",\"Bank of Ghana (BoG)\",\"two Nigerians in Dzorwulu\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/bog-orders-closure-of-illegal-forex-bureau\",\"name\":\"BoG orders closure of \u2018Illegal\u2019 Forex Bureau - 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