The Bank of Ghana has announced the suspension of remittance partnerships involving five Money Transfer Operators (MTOs) for a period of one month, effective 18 September 2025.
The affected MTOs are Taptap Send, Top Connect, Remit Choice, Send App, and Afriex.
According to the central bank, the suspension stems from unauthorized remittance activities conducted in collaboration with Payment Service Providers (PSPs).
“The suspension is due to various breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Bank of Ghana Notice No. BG/GOV/SEC/2025/25,” a statement from BoG announced.
The Bank stated that the suspended MTOs may only resume remittance operations upon re-application by the partner PSPs or banks for the necessary authorization.
“The Bank of Ghana will continue to ensure that all foreign exchange market players adhere strictly to applicable laws and regulations,” it urged.
This action forms part of the BoG’s ongoing efforts to ensure strict compliance with foreign exchange market regulations and uphold the integrity of financial transactions within the country.
