The Bank of Ghana (BoG) has issued a firm directive prohibiting the photocopying of Ghana Cards for banking transactions, emphasizing that biometric verification must be the standard method for identity authentication.

This directive aligns with the National Identity Register Regulations, 2012 (L.I. 2111) and aims to eliminate outdated verification methods such as lookup lists and visual inspections, which pose security risks.

Speaking at an engagement with financial institutions, Mr. Ashitei Trebi-Ollennu, Deputy Head of the Financial Integrity Office of BoG, stressed that photocopying Ghana Cards compromises the integrity of financial transactions.

“We have never said that banks should photocopy Ghana Cards. Photocopying leaves room for fraud and weakens security,” he stated.

He further emphasized that Ghana’s National Identification Authority (NIA) database is a powerful asset and should be leveraged through biometric verification instead of manual processes that create security vulnerabilities.

The meeting brought together the Bank of Ghana, the Ghana Association of Banks, the National Identification Authority (NIA), and representatives of universal banks to discuss ways to improve identity verification processes.

Legal representatives from the NIA, including Head of Legal Directorate, Teresa Eson-Benjamin, reiterated that the Ghana Card is the sole legally recognized identification document for banking transactions.

Discussions underscored biometric verification as the most secure way to prevent fraudulent activities linked to photocopied Ghana Cards.

The BoG urged financial institutions to fully transition to biometric-based authentication to safeguard the financial system and align with international best practices.

National Economic Dialogue will help reset Ghana, drive sustainable growth – Ato Forson

The Director-General of the National Lottery Authority (NLA), Mr. Mohammed Abdul-Salam, has been appointed Vice President of the African Lotteries Association (ALA).

Mr. Abdul-Salam’s appointment as Vice President of ALA follows the resignation of the immediate past Director-General of NLA, Hon. Samuel Awuku, who was elected Vice President of ALA on March 8, 2024. On the appointment of Mr. Mohammed Abdul-Salam as the new Director-General of NLA, the ALA Board of Directors unanimously approved Mr. Abdul Salam to the Executive Committee to serve Hon. Awuku’s remaining term of office.

At an Online ALA Executive Meeting, the president, Mr. Dramane Coulibaly, and members of the Executive Committee congratulated the NLA Director-General and welcomed him into the Executive Committee.

Subsequently, Mr. Abdul Salam has paid a working visit to the NLA’s sister lottery body, the Loterie Nationale De Cote D’Ivoire (LONACI), where he was warmly received by the Director-General, Mr. Dramane Coulibay, who also serves as the ALA President.

In his new role as Vice President, Mr. Abdul-Salam expressed gratitude for the appointment and the longstanding relationship between NLA and LONACI. He pledged to build on the work of his predecessor, Hon. Samuel Awuku, and strengthen the ties between the two lottery bodies.

“I am most grateful to the President of ALA and the Executive Committee for my elevation as ALA Vice President. I pledge to work hand in hand with them to address our member bodies’ concerns and fulfil the Association’s goals”. Mr. Abdul-Salam said.

The NLA Director-General said he was happy to learn of some of the best practices that have boosted revenue for LONACI and sustained the business, which he plans to inculcate into NL’s operations.

Mr. Dramane Coulibaly expressed immense excitement at Mr. Abdul-Salam’s visit and said it was a testament to the excellent relationship between NLA and LONACI. He enlightened him on the intricacies of dealing with illegal lottery operators and pledged to give him all the support he needed to succeed in his role.

Mr. Abdul-Salam was also a guest at a ceremony for LONACI to receive its WLA Level 2 Certification in Responsible Gaming. According to Mr. Coulibaly, this certification would help them identify the gaps and fulfil their obligations regarding responsible gaming.

“The certificate we have received today is proof, if proof were needed, of our commitment to respecting the principles of Responsible Gaming, as laid down by the World Lottery Association (WLA), and attests to the fact that LONACI has successfully undergone a critical self-assessment to identify the challenges it will have to meet to comply with all the principles of Responsible Gaming”. Mr. Dramane Coulibaly said.

The WLA Level 2 Certificate was presented to LONACI by the Permanent Secretary to ALA, Mr. Driss Hamdoune, who said this recognition illustrates LONACI’s commitment to ensuring a safer, more transparent and more responsible gaming environment.

Mr. Abdul-Salam congratulated the LONACI for this achievement and wished them well as they prepared to begin the process for Level 3 Certification

Dr. Johnson Asiama, Bank of Ghana Governor

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has announced the suspension of the country’s Gold-for-Oil program.

Speaking in an interview with Bloomberg, Dr. Asiama stated that the initiative has been put on hold due to unspecified policy and operational challenges.

However, he expressed optimism that the cedi would stabilize following last year’s volatility.

“We intend to maintain an appropriate monetary policy stance. Together with commitments to fiscal discipline under the administration of President John Mahama, this should help us maintain stability in the foreign exchange markets,” he told Bloomberg on Friday, February 28, 2025.

Dr. Asiama further revealed that the program had incurred some losses, prompting its suspension.

“We have had to incur some losses on that, so we have put some suspension on the trade,” he stated.

The Gold-for-Oil program, introduced by the erstwhile Akufo-Addo administration, aimed to reduce reliance on foreign exchange for fuel imports and stabilize domestic fuel prices.

Despite the suspension, Dr. Asiama assured stakeholders that the central bank remains committed to exploring alternative measures to ensure fuel price stability and sustainable economic management.

He also emphasized that improved monetary and fiscal policy coordination should help ease price pressures as Ghana moves past the economic turmoil caused by its 2022 debt default.

The economic challenges in Ghana forced the country to seek a $3 billion bailout from the International Monetary Fund (IMF) and restructure its debt after defaulting on its obligations.

MA