Persons arriving in or departing Ghana have been directed by the Bank of Ghana to declare if they are carrying money more than $10,000.00 using the Currency Declaration Form (CDF) at the point of entry or exit.
The travellers are required to indicate the source and purpose for carrying such an amount in the CDF.
The Central Band in a statement, however, clarified that commuters are “permitted to carry up to $10,000.00 or its equivalent in any other monetary instruments without declaration”.
Through this directive, the BoG is exercising the powers conferred on it by the “Foreign Exchange Act, 2006 (ACT 723) to make rules governing the importation of foreign exchange and given the provisions of the Anti-Money Laundering Act, 2008 (Act 749) as amended.”
The BoG further warned that, “Failure to declare or a false declaration shall lead to the seizure and/or forfeiture of all the currency or monetary instruments, and may be subjected to penalties and/or criminal prosecution.”
Read the statement below
By: Kekeli Kuatsenu/awakenewsonline.com
