The Bank of Ghana has announced that henceforth, travelers, arriving in or departing Ghana with money worth over $10,000.00 must declare using the currency declaration form at the point of entry.
In a statement, the bank however, noted travelers with $10,000.00 are free to move on without declaration.
“Under the powers conferred on Bank of Ghana by the Foreign Exchange Act, 2006 (ACT 723) to make rules governing the importation of foreign exchange and given the provisions of the Anti-Money Laundering Act, 2008 (Act 749) as amended, the Bank of Ghana announces for the information of the General Public that:
The statement further said” Failure to declare or a false declaration shall lead to the seizure and/ or forfeiture of all the currency or monetary instruments, and may be subjected to penalties and/ or criminal prosecution.
“Monetary instruments include coins, currency, traveller’s cheques and bearer instruments such as personal or cashier cheques, bearer shares and bonds.
“Transportation of currency through mails or cargo is strictly prohibited. Such amounts shall be confiscated to the State”.