The central bank noted that the caution was in accordance with the Foreign Exchange Act, 2006 (Act 723). The above-mentioned Act prohibits the pricing, advertising and payment for goods and services in foreign currency in Ghana. Persons who violate this Foreign Exchange Act can be imprisoned for 18 months. According to the Central Bank, the Foreign Exchange Act, 2006 (Act 723) prohibits the pricing, advertising and receipt or payment for goods and services in foreign currency in Ghana. The BoG in a statement noted that the sole legal tender in Ghana is the Ghana Cedi and Ghana pesewa.

Source: GhanaWeb May 10, 2021 09:22 UTC