The Bank of Ghana (BoG) has officially lifted the suspension of the Foreign Exchange Trading Licence of United Bank for Africa (UBA) Ghana Limited, effective Monday, October 19, 2025.

This development follows a one-month sanction imposed on the bank due to multiple violations of foreign exchange market regulations, including breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers (2023), as amended by the central bank.

In a statement released today, the BoG announced that the licence has been reinstated after UBA Ghana complied fully with the terms of the suspension and implemented corrective actions deemed satisfactory by the regulator.

“The Bank of Ghana hereby announces the lifting of the suspension of the Foreign Exchange Trading Licence of United Bank for Africa (UBA) Ghana Limited, effective 19 October 2025. This decision is based on UBA’s compliance with all suspension conditions and the successful implementation of remedial measures, which have been reviewed and approved by the Bank,” the statement read.

The central bank also reaffirmed its commitment to preserving the integrity of the country’s foreign exchange market, emphasizing strict adherence to the Foreign Exchange Act, 2006 (Act 723), and related regulatory guidelines.

“The Bank of Ghana remains resolute in its efforts to uphold the integrity of the foreign exchange market and ensure that all licensed participants operate within the bounds of the law and regulatory standards,” the statement concluded.