The Bank of Ghana (BoG) has issued a strong warning to International Money Transfer Operators (IMTOs) operating without registration, stating that firms that fail to comply with regulatory requirements by July 31, 2026, will be barred from operating in the country.
The caution accompanies the central bank’s decision to extend the registration deadline for existing IMTOs, giving operators additional time to regularise their status under Ghana’s regulatory framework.
In a notice addressed to IMTOs, banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs), the Bank said the extension follows an earlier directive issued in January 2026 aimed at strengthening oversight of the remittance industry.
The central bank stressed that the extension should be viewed as a final opportunity for operators that have not yet completed the registration process.
According to the notice, any operator that fails to meet the new deadline will lose the legal basis to conduct business in Ghana.
“Consequently, any existing arrangements or partnerships with Banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) shall be rendered null and void,” the Bank stated.
The regulator further warned that non-compliant operators could be subjected to additional sanctions and enforcement measures under applicable financial sector laws.
The directive forms part of broader efforts by the Bank of Ghana to improve transparency, strengthen regulatory compliance and safeguard the integrity of international remittance services.
The Bank also instructed all regulated financial institutions to verify the compliance status of their IMTO partners before maintaining or entering into business relationships with them.
Industry observers say the move reflects the central bank’s determination to tighten supervision of Ghana’s growing remittance sector and ensure that all operators meet established legal and operational standards.
With the new July 31 deadline in place, affected operators are expected to submit the required documentation and secure registration to avoid possible sanctions and business disruptions.
