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 — for one month, effective September 18, 2025.
In a statement issued on Thursday, September 4, the central bank said the suspension follows breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by BoG Notice No. BG/GOV/SEC/2025/25.
According to the Bank, the affected operators engaged in unauthorised remittance activities with Payment Service Providers (PSPs) — Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc. — through their settlement bank, UBA Ghana.
The BoG noted that the suspended firms will only be permitted to resume operations after their partner PSPs or banks re-apply for approval at the end of the suspension period.
The regulator further cautioned players in the foreign exchange market to comply strictly with all applicable forex regulations and guidelines.
