Bank of Ghana Lifts Suspension on UBA’s Forex Trading License
Bank of Ghana Lifts Suspension on UBA Ghana’s Forex Trading License
The Bank of Ghana (BoG) has officially lifted the suspension of the Foreign Exchange Trading License of United Bank for Africa (UBA) Ghana Limited, effective October 19, 2025.
In a statement issued by the Central Bank, the decision followed UBA’s “adherence to the suspension conditions imposed and the implementation of remedial measures,” which were reviewed and deemed satisfactory by the regulator.
“The Bank of Ghana remains committed to maintaining the integrity of the foreign-exchange market and ensuring that all licensed market participants operate in strict compliance with the Foreign Exchange Act, 2006 (Act 723) and other applicable regulatory guidelines,” the statement added.
UBA Ghana’s forex license was suspended earlier this year after the bank was found to have breached aspects of Ghana’s foreign-exchange regulations. The suspension restricted UBA from engaging in forex trading and related transactions while it addressed compliance issues.
The bank has since met all conditions required for reinstatement, including strengthened internal compliance controls and revised transaction-reporting mechanisms.
Financial analysts view the BoG’s decision as a positive signal of regulatory transparency and fairness. The move also underscores the Central Bank’s ongoing efforts to balance enforcement with corrective supervision in Ghana’s financial sector.
“This shows that the Bank of Ghana is serious about enforcing standards but also open to helping institutions get back on track,” said a market observer.
The reinstatement of UBA’s forex trading rights not only restores confidence in the banking group’s Ghana operations but also reflects the regulator’s intent to maintain a disciplined yet growth-oriented financial environment.
With forex stability remaining critical to economic recovery, BoG’s regulatory oversight continues to play a key role in sustaining trust and transparency within the sector.
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