On August 20, 2025, the Bank of Ghana (BoG) issued a directive to banks aimed at protecting the cedi's stability against major foreign currencies.
Bank of Ghana Governor, Dr Johnson Asiama The instruction is straightforward: large companies can no longer withdraw foreign currency they have not actually deposited with a bank.
Previously, corporations could walk into a bank and access dollars even without depositing any, or they could withdraw more than they had put in.
For example, if a mining company had deposited $100, it could still withdraw far more than that.
