Bank of Ghana halts remittance services by Flutterwave, Afriex, Cellulant, and UBA Ghana over repeated compliance violations.
The Bank of Ghana (BoG) has suspended the remittance licenses of Flutterwave, Afriex, Cellulant, and settlement bank UBA Ghana for one month, citing unauthorized remittance activities. Halges Financial Technologies faces an indefinite ban.
The suspension affects five Money Transfer Operators—Tap Tap Send, Top Connect, Remit Choice, Send App, and Afriex—after breaches of the 2023 remittance guidelines. Flutterwave and Cellulant were flagged for violating requirements on operational approvals and service agreements.
UBA Ghana also lost its foreign exchange trading license for one month. All affected companies must reapply for approval once suspensions expire.
The crackdown underscores BoG’s push to tighten compliance, protect the FX market, and ensure transparency in Ghana’s remittance sector.
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