Uncirculated banknotes part of preexisting deal with Liberia - BoG

Aug 29, 2024 - 12:15

Aug 29, 2024 - 12:35

Uncirculated banknotes part of preexisting deal with Liberia - BoG

Accra, Ghana - The Bank of Ghana (BoG) has issued a statement to clarify allegations made by Samuel Okudzeto Ablakwa, MP for North Tongu, regarding the movement of uncirculated banknotes received on behalf of the Central Bank of Liberia.

Contrary to Ablakwa's claims, the BoG explained that the uncirculated banknotes in question are part of a longstanding arrangement between the two central banks.

The statement, dated August 28, 2024, aims to set the record straight and provide clarity on the matter.

The BoG's clarification comes after Ablakwa's allegations sparked concerns about the legitimacy of the transaction.

The central bank's statement assures that the arrangement is a normal part of international cooperation between central banks.

“The Bank of Ghana has taken note of a news item circulating on social media, purported to misinform and disinform the public, about the movement of Uncirculated Banknotes received by the Bank of Ghana, on behalf of the Central Bank of Liberia.

“For the avoidance of doubt, the Bank of Ghana has had a long-standing currency transfer arrangement with the Central Bank of Liberia since 2004, and per this agreement, the Bank of Ghana receives imported currency on behalf of the Central Bank of Liberia for re-export to Monrovia. The said Uncirculated Banknotes mentioned in the social media discussions on August 27 are part of this long-standing arrangement," the statement read.

Find the full statement below.