Consolidated Bank Ghana (CBG) has reassured customers that the recent suspension of its foreign exchange license by the Bank of Ghana (BoG) will not affect its core banking operations. All branches and digital platforms remain fully operational, with the bank encouraging customers to remain calm as it addresses the regulatory issues.
The BoG imposed a one-month suspension on CBG’s forex activities, effective November 26, following identified violations of foreign exchange market regulations. In response, CBG issued a statement confirming that it is actively working with BoG to resolve these issues and expects the license to be restored by the end of the suspension period.
“We assure our valued customers that this suspension does not impact CBG’s regular banking services,” CBG stated. “Apart from foreign exchange products, our branches and digital platforms continue to provide our full range of services.”
CBG apologized for any inconvenience this may cause and reaffirmed its commitment to strict regulatory compliance. The BoG also reminded all foreign exchange market players to adhere strictly to the guidelines to maintain market integrity.