The Bank of Ghana (BoG) has suspended the remittance operations of five Money Transfer Operators (MTOs), Taptap Send, Top Connect, Remit Choice, Send App, and Afriex, effective September 18, 2025.
The one-month suspension, the regulator said, follows violations of the Guidelines for Inward Remittance Services by Payment Service Providers (2023), as amended by Notice No. BG/GOV/SEC/2025/25.
According to the BoG, the infractions involved the conduct of unauthorised remittance transactions with Payment Service Providers (PSPs), Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc. through their settlement bank, UBA Ghana.
The central bank stated that the affected firms can only resume operations after their PSPs or banks reapply for approval, which will be reviewed at the end of the suspension period.
It also cautioned all players in the foreign exchange and remittance market to strictly comply with regulatory requirements, warning that further breaches will attract sanctions.
Source: Myxyzonline.com
