The Bank of Ghana (BoG) has announced the suspension of remittance partnerships involving five major Money Transfer Operators (MTOs), effective September 18, 2025.
The affected operators are Taptap Send, Top Connect, Remit Choice, Send App, and Afriex. According to the central bank, the suspension, which will last for one month, follows various breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023, as amended by Bank of Ghana Notice No. BG/GOV/SEC/2025/25.
Investigations by the BoG revealed that the MTOs conducted unauthorised remittance activities with Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc., through their settlement bank, UBA Ghana.
The regulator stressed that the affected operators will only be permitted to resume remittance services after their partner PSPs or banks reapply and meet the Bank of Ghana’s requirements, once the suspension period expires.
The Bank further cautioned foreign exchange market players to comply strictly with all applicable forex market regulations and guidelines, warning that non-compliance will attract strict regulatory action.
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