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2 clusters · 4 sources · 19 days · First seen · Last updated

Ghanaian financial regulatory oversight measures

Overview

Ghanaian financial authorities have issued directives aimed at strengthening oversight and regulatory compliance within the nation’s financial systems.

The Controller and Accountant-General’s Department (CAGD) warned public institutions against opening unauthorized bank accounts without prior written approval, citing a breach of the Public Financial Management Act, 2016. The CAGD stated that institutions violating this directive would face account closures and the transfer of funds to the Consolidated Fund.

Concurrently, the Bank of Ghana has urged regulators and law enforcement to address gaps in anti-money laundering and counter-terrorist financing (AML/CFT) frameworks. This effort is intended to prepare for a 2026 regional assessment by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), with a focus on improving beneficial ownership transparency and inter-agency coordination.

Entities

Bank of Ghana · Mam Cherno Jallow · IMF · GIABA · Controller and Accountant-General’s Department

Timeline

  1. 3 days ago

    [BUSINESS] 2 sources
    Bank of Ghana urges agencies to close AML/CFT gaps

    The Bank of Ghana is pressing agencies to close AML/CFT gaps ahead of a critical 2026 GIABA assessment to protect investor confidence and financial system credibility.

  2. 21 days ago

    [BUSINESS] 2 sources
    Ghana CAGD warns public institutions against unauthorized bank accounts

    Ghana’s Controller and Accountant-General’s Department has ordered public institutions to obtain written approval before opening bank accounts, warning that unauthorized funds will be moved to the Consolidated_

Sources

dailytrust.com.ng · ghanaguardian.com · norvanreports.com · thevoicenewsmagazine.com