{"id":184856,"date":"2024-05-30T14:38:51","date_gmt":"2024-05-30T14:38:51","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/"},"modified":"2024-05-30T14:38:51","modified_gmt":"2024-05-30T14:38:51","slug":"bog-refutes-claims-of-ghana-becoming-a-dual-currency-state","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/","title":{"rendered":"BoG refutes claims of Ghana becoming a dual currency state"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Bank of Ghana (BoG) has responded to an article titled \u201cIs Ghana Becoming a Dual Currency State? The Rise of Yellow Currency!\u201d to correct some inconsistencies and misinformation.<\/p>\n<p>The article claimed electronic money was superseding the Ghanaian cedi for which reason strategic measures had to be taken to safeguard the use and relevance of the cedi.<\/p>\n<p>But the Communications Department of the BoG in an interaction with Journalists on Thursday, May 30 clarified that in 2007, when licensing mobile money, Ghana decided on the bank-based model, while other jurisdictions rolled out the telco-based model.<\/p>\n<p>According to BoG,\u00a0 the author of the article confused the telco-based model with the bank-based model as all such services in the country had banks and fintechs (licensed by BoG) behind them with actual transactions in cedis.<\/p>\n<p>The BoG said these back-office services, coordinated by the Ghana Interbank Payments and Settlement Systems (GhIPSS)\u2014a wholly owned subsidiary of BoG, were not visible to the general public and that was what distinguished Ghana from other telco-based jurisdictions.<\/p>\n<p>\u201cIn fact, Ghana is among the few countries that have full interoperability between mobile money wallets and bank accounts and are fully backed by cash floats at corresponding commercial banks, without which settlement won\u2019t happen. Other jurisdictions are now trying to establish such interoperability.\u201d<\/p>\n<p>\u201cThat said, the BoG is fully engaged and will continue to monitor this ecosystem to ensure we constantly promote financial stability while balancing that with flexibility for financial inclusion,\u201d the BoG further stated.<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:\u00a0https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana (BoG) has responded to an article titled \u201cIs Ghana Becoming a Dual Currency State? The Rise of Yellow Currency!\u201d to correct some inconsistencies and misinformation. The article claimed electronic money was superseding the Ghanaian cedi for which reason strategic measures had to be taken to safeguard the use and relevance of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-184856","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG refutes claims of Ghana becoming a dual currency state - 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\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG refutes claims of Ghana becoming a dual currency state - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana (BoG) has responded to an article titled \u201cIs Ghana Becoming a Dual Currency State? The Rise of Yellow Currency!\u201d to correct some inconsistencies and misinformation. The article claimed electronic money was superseding the Ghanaian cedi for which reason strategic measures had to be taken to safeguard the use and relevance of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-30T14:38:51+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"BoG refutes claims of Ghana becoming a dual currency state\",\"datePublished\":\"2024-05-30T14:38:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/\"},\"wordCount\":302,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/\",\"name\":\"BoG refutes claims of Ghana becoming a dual currency state - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2024-05-30T14:38:51+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/30\\\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BoG refutes claims of Ghana becoming a dual currency state\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BoG refutes claims of Ghana becoming a dual currency state - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/","og_locale":"en_US","og_type":"article","og_title":"BoG refutes claims of Ghana becoming a dual currency state - Ghanamma.com","og_description":"The Bank of Ghana (BoG) has responded to an article titled \u201cIs Ghana Becoming a Dual Currency State? The Rise of Yellow Currency!\u201d to correct some inconsistencies and misinformation. The article claimed electronic money was superseding the Ghanaian cedi for which reason strategic measures had to be taken to safeguard the use and relevance of [&hellip;]","og_url":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/","og_site_name":"Ghanamma.com","article_published_time":"2024-05-30T14:38:51+00:00","author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"BoG refutes claims of Ghana becoming a dual currency state","datePublished":"2024-05-30T14:38:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/"},"wordCount":302,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#primaryimage"},"thumbnailUrl":"","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/","url":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/","name":"BoG refutes claims of Ghana becoming a dual currency state - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#primaryimage"},"thumbnailUrl":"","datePublished":"2024-05-30T14:38:51+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/05\/30\/bog-refutes-claims-of-ghana-becoming-a-dual-currency-state\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"BoG refutes claims of Ghana becoming a dual currency state"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/184856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=184856"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/184856\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=184856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=184856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=184856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}