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The Bank of Ghana (BoG) has lifted the suspension of the Foreign Exchange Trading Licence of United Bank for Africa (UBA) Ghana Limited.
The reinstatement takes effect, Monday October 20th, 2025.
The BoG had earlier sanctioned the bank for one month over multiple breaches of foreign exchange market regulations including violations of the Updated Guidelines for Inward Remittance Services by Payment Service Providers (2023), as amended by the Bank of Ghana.
But in a statement issued on 17th October, the Central Bank said the decision to restore the license follows UBA’s full adherence to the conditions of suspension and the implementation of corrective measures, which have been reviewed and found satisfactory by the regulator.
“The Bank of Ghana hereby gives notice of the lifting of the suspension of the Foreign Exchange Trading Licence of United Bank for Africa (UBA) Ghana Limited, effective Monday,20 October 2025. This decision follows UBA’s adherence to the suspension conditions imposed and the implementation of remedial measures that have been reviewed and found satisfactory by the Bank,” the statement said.
The Bank added that it will continue to safeguard the integrity of Ghana’s foreign exchange market by ensuring strict compliance with the Foreign Exchange Act, 2006 (Act 723) and all related regulatory frameworks as commitment to FX market discipline.
“The Bank of Ghana remains committed to maintaining the integrity of the foreign exchange market and ensuring that all licensed market participants operate in strict compliance with applicable laws and guidelines,” the statement concluded.
Source: myghanadaily
