The Bank of Ghana (BoG) has announced a sweeping directive aimed at curbing foreign exchange leakages and strengthening the stability of the Ghana cedi. The new measure imposes strict timelines on exporters to repatriate their earnings, warning that failure to comply could attract severe criminal penalties, including fines and imprisonment of up to ten years.
The directive, which took effect on October 30, 2025, forms part of the Central Bank’s broader plan to safeguard Ghana’s foreign exchange reserves and enforce discipline in the export sector.
Under the revised repatriation rules, exporters must return all foreign exchange proceeds to Ghana through their authorised dealer banks within 120 days after shipment. Any extension beyond this limit requires a strong justification and formal approval from the BoG, which replaces Section 4 of the earlier Notice Number BG/GOV/SEC/2016/03.
“All authorised dealer banks must ensure full compliance with this notice and communicate its provisions to their exporter clients. Section 4 of Notice Number BG/GOV/SEC/2016/03 is repealed with immediate effect,” the BoG stated.
The Central Bank cautioned that exporters who ignore the new rules will be prosecuted under Section 15(4) of the Foreign Exchange Act, 2006 (Act 723). Sanctions include hefty monetary fines of up to 5,000 penalty units and prison terms of up to 10 years.
The BoG said this enforcement drive responds to rising concerns about unaccounted export proceeds and forex outflows that have contributed to periodic pressure on the local currency.
Authorised dealer banks have been tasked with playing a frontline role in the implementation. They are to notify their clients, monitor export accounts, and immediately report any violations or suspicious delays to the Central Bank.
According to the BoG, this move is part of a larger framework of foreign exchange reforms designed to enhance transparency, improve export monitoring, and ensure that all earnings due to the country are channelled through official systems.
By tightening oversight and enforcing repatriation rules, the Central Bank hopes to strengthen the cedi, boost Ghana’s balance of payments, and support long-term economic stability.
