BoG Lifts Suspension on UBA Ghana’s Forex Trading Licence

The Bank of Ghana (BoG) has reinstated the foreign exchange trading licence of United Bank for Africa (UBA) Ghana Limited, effective October 19, 2025.

In a press release issued by the Bank’s Communications Department on October 17, the central bank said the decision followed UBA’s full compliance with the conditions of the suspension and the satisfactory implementation of corrective measures.

“The Bank of Ghana hereby gives notice of the lifting of the suspension of the Foreign Exchange Trading Licence of United Bank for Africa (UBA) Ghana Limited, effective 19 October 2025,” the statement read.

It added that UBA’s remedial actions had been reviewed and found to meet the regulatory requirements set out by the Bank during the suspension period.

The BoG reaffirmed its commitment to safeguarding the integrity of Ghana’s foreign exchange market, stressing that all licensed participants must strictly adhere to the Foreign Exchange Act, 2006 (Act 723), and other applicable regulatory guidelines.

The central bank had earlier suspended UBA Ghana’s licence over regulatory breaches in the forex market, but the details of those infractions were not disclosed in the latest statement.

With the reinstatement, UBA Ghana can now resume full participation in foreign exchange trading activities.