The Bank of Ghana (BoG) has suspended the remittance partnerships of five Money Transfer Operators (MTOs) — Taptap Send, Top Connect, Remit Choice, Send App, and Afriex — effective September 18, 2025. The suspension, according to the Central Bank, will last for one month.
In a statement released on September 4, the BoG explained that the affected companies violated provisions of the Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Notice No. BG/GOV/SEC/2025/25.
The breaches, the Bank noted, involved engaging in unauthorised remittance transactions with Payment Service Providers (PSPs) — Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc. — through their settlement bank, UBA Ghana.
The BoG added that the suspended operators may only resume remittance services after their partner PSPs or banks reapply for approval, subject to the Bank’s review at the end of the suspension period.
Meanwhile, the Central Bank has cautioned all players in the foreign exchange market to strictly comply with existing regulations and guidelines governing forex transactions.
