{"id":763087,"date":"2019-12-11T20:58:33","date_gmt":"2019-12-11T20:58:33","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/12\/11\/bog-losing-control-over-illegal-forex-traders\/"},"modified":"2019-12-11T20:58:33","modified_gmt":"2019-12-11T20:58:33","slug":"bog-losing-control-over-illegal-forex-traders","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/12\/11\/bog-losing-control-over-illegal-forex-traders\/","title":{"rendered":"BoG losing control over illegal forex traders?"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/12\/maxresdefault-28-1024x576.jpg\" \/><\/p>\n<div>\n<p>&#13;<br \/>\n                    <iframe loading=\"lazy\" id=\"td_youtube_player\" width=\"600\" height=\"560\" src=\"https:\/\/www.youtube.com\/embed\/qQpwHSJ658M?enablejsapi=1&amp;feature=oembed&amp;wmode=opaque&amp;vq=hd720\" frameborder=\"0\" allowfullscreen=\"\"><\/iframe>&#13;<br \/>\n                    &#13;<br \/>\n&#13;\n                <\/p>\n<p>The<br \/>\nExecutive Secretary to the Importers and Exporters Association of Ghana,<br \/>\nbelieves the Central Bank of Ghana is gradually losing control over the<br \/>\nactivities of illegal forex traders in Ghana.<\/p>\n<p>According to Mr Sampson Asaki Awingobet, the growing phenomena of \u2018black market operators\u2019 which the BoG has failed to clamp down on, is one of the major causes of the depreciation of the cedi.<\/p>\n<p><strong>ALSO READ<\/strong>: <strong>Police arrest 9 including spiritualist and imposter ahead of yuletide<\/strong><\/p>\n<p>\u201cThe BoG is<br \/>\nexpected to regulate the currency, supervise the exchange of foreign currencies<br \/>\nin Ghana and regulate forex bureaus but now it seems the black market has now<br \/>\ntaken over the work of BoG,\u201d he said.<\/p>\n<p>Speaking in an interview on Adom FM\u2019s Dwaso Nsem Anti-Corruption segment, <em><strong>Fabewoso<\/strong><\/em>, Mr Awingobet explained that the situation has given the black market operators more power in determining the exchange rates.<\/p>\n<p><strong>ALSO READ<\/strong>: <strong>Man arrested for stabbing his uncle to death<\/strong><\/p>\n<p>\u201cThe rate is<br \/>\nnow in the hands of the black market operators and you can sometimes go to the<br \/>\nbank to request for foreign currencies but will be referred to the Alhajis who I<br \/>\nbelieve the banks benefit from,\u201d he lamented.<\/p>\n<p>Mr Awingobet<br \/>\nadded the phenomenon is detrimental to Ghana\u2019s business economy and currency.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#13; &#13; &#13; &#13; The Executive Secretary to the Importers and Exporters Association of Ghana, believes the Central Bank of Ghana is gradually losing control over the activities of illegal forex traders in Ghana. According to Mr Sampson Asaki Awingobet, the growing phenomena of \u2018black market operators\u2019 which the BoG has failed to clamp down [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":763088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-763087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG losing control over illegal forex traders? - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/12\/11\/bog-losing-control-over-illegal-forex-traders\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BoG losing control over illegal forex traders? - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"&#013; &#013; &#013; &#013; The Executive Secretary to the Importers and Exporters Association of Ghana, believes the Central Bank of Ghana is gradually losing control over the activities of illegal forex traders in Ghana. 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