Supreme Court Halts Reinstatement of GN Savings and Loans Licence Pending Appeal
The Supreme Court has suspended the enforcement of a Court of Appeal ruling that directed the Bank of Ghana (BoG) to restore the operating licence of GN Savings and Loans Limited. This decision means that the Court of Appeal’s order will not take effect until the Supreme Court hears and determines the appeal filed by the central bank. The Bank of Ghana had appealed the earlier ruling, which ordered it to reinstate the licence of GN Savings and Loans after it was revoked as part of the country’s financial sector clean-up exercise. With the stay of execution granted, the current status remains unchanged, and the central bank is not required to restore the company’s licence while the appeal is pending. The Supreme Court will now consider whether the Bank of Ghana acted lawfully in revoking the licence and whether the Court of Appeal was justified in ordering its reinstatement. The final decision will determine whether the Court of Appeal’s judgment is upheld or overturned. Source: Apexnewsgh.com
Ghana Nears Completion of Debt Restructuring with Successful Exchange of SADEREA Notes
Ghana has taken a major step toward completing its external debt restructuring programme after successfully exchanging the outstanding Savings and Development Economic Recovery Agreement (SADEREA) Notes, the Ministry of Finance announced. According to the Ministry, the transaction was settled on Monday, July 13, 2026, with a value date of July 10, 2026, marking the resolution of the last outstanding component of Ghana’s sovereign bonded debt restructuring. In a statement, the Ministry described the successful exchange as a significant milestone in the country’s economic recovery efforts. The SADEREA Notes, 12.5% Senior Secured Amortising Bonds, were originally issued to finance capital expenditure in Ghana’s health sector. The original issuance totaled US$253.2 million, with about US$117.8 million in principal remaining as of January 2026. The Ministry emphasized that completing the exchange demonstrates the government’s commitment to restoring debt sustainability, boosting investor confidence, and maintaining macroeconomic stability. This achievement comes as part of Ghana’s broader debt restructuring efforts, aimed at reducing debt burdens and restoring fiscal sustainability after a period of severe economic challenges, including high debt levels and constrained access to international capital markets. The Ministry of Finance reaffirmed its commitment to prudent debt and public financial management to safeguard Ghana’s long-term economic stability. Source: Apexnewsgh.com
US-Iran Tensions Keep Ghana’s Fuel Market on Edge
Renewed tensions between the United States and Iran are putting Ghana’s fuel market on high alert, as uncertainty in the Middle East threatens the stability of petroleum prices, according to the Chamber of Oil Marketing Companies (COMAC). COMAC CEO Dr. Riverson Oppong told the media that ongoing developments in the region are fueling volatility in global crude oil markets. However, he expressed optimism that prices would not surge past $100 per barrel. “We’re just hoping, and fingers crossed that this does not escalate the price above $100, which I believe we’re not going to see,” Oppong told Citi News. Dr. Oppong explained that COMAC had earlier projected crude oil prices would stay in the $70-$80 range if geopolitical conditions remained stable. “I was optimistic with the forecasts… We came to $74, $75, and it is still within the forecast that was made because the concern was that if everything was equal, that’s what we were going to see in the market,” he said. He acknowledged that geopolitical decisions by world leaders make accurate forecasting challenging, noting, “In forecasting, nobody can predict the mindset of any leader who is geopolitically strong like Trump. That’s the only disadvantage we have during our forecasting.” Dr. Oppong added that, under normal conditions, crude prices could have dropped further, possibly to between $65 and $67 per barrel. He also revealed that renewed instability has triggered panic buying of fuel in Ghana, but assured consumers that the country currently has enough stocks. “We’ve observed panic buying, but it is not anything to worry about. We still have stocks in the country,” he said. He criticized some businesses for increasing fuel prices prematurely in anticipation of higher import costs, calling the move unjustified since the products were imported earlier at lower prices. He explained that while panic buying is unlikely to directly impact consumers, it may be intended to safeguard the revenues of oil marketing companies. Global oil markets remain volatile as investors closely watch US-Iran developments, with fears that any escalation could disrupt supplies and drive up energy prices worldwide. Source: Apexnewsgh.com
Central Bank Governor Urges Traders to Safeguard Banknotes During National Clean-Up
During the National Clean-Up Exercise on Friday, July 10, 2026, the Governor of the Bank of Ghana, Dr. Johnson Asiama, delivered an important message to traders and businesses across the country. Joining participants in the nationwide sanitation campaign, Dr. Asiama highlighted a unique angle, linking environmental cleanliness to the quality and lifespan of Ghana’s currency. Addressing traders, Dr. Asiama emphasized the need for better cash-handling practices, especially in markets where physical cash remains king. “We are looking at this from another perspective, which is the condition of the banknotes, particularly the cedi notes used in our markets. We want those notes to remain clean because research has shown that banknotes can harbour bacteria. As people exchange cash, those bacteria can be transmitted from one person to another,” he explained. Dr. Asiama noted that the Central Bank’s involvement in the clean-up campaign extends beyond environmental sanitation. “And for us at the Central Bank, just as I was saying when we went to Agbogbloshie, we want the market environment especially to be clean. We have spoken with officials, we work with them to make sure that the refuse and those other buildups are cleaned constantly,” he stated. He elaborated that the Bank of Ghana is collaborating with market authorities to improve both sanitation and cash-handling habits, underscoring that cleaner markets help preserve the quality of banknotes and reduce the cost of replacing damaged currency. Dr. Asiama called on traders to avoid exposing banknotes to dirt, moisture, and other contaminants, and encouraged market operators to make cleanliness a regular part of their business operations. He assured participants that the Central Bank will continue to back initiatives that foster cleaner commercial environments and responsible handling of cash, all in a bid to preserve the integrity of Ghana’s currency. His message served as a timely reminder that good sanitation practices not only benefit public health but also help maintain the currency that drives the nation’s economy. Source: Apexnewsgh.com
Volta Regional Police Destroy 11 Cannabis Farms in Major Anti-Drug Operation
The Volta Regional Police Command, in collaboration with officers from the National Headquarters of the Drug Law Enforcement Unit (DLEU), has destroyed 11 large cannabis farms in the Peki-Dzake enclave. This decisive action forms part of ongoing efforts to curb the cultivation and trafficking of illicit drugs in the region. The operation, conducted on Thursday, July 9, 2026, was prompted by intelligence reports pointing to cannabis cultivation in remote areas within the Peki-Dzake enclave. A total of 60 police personnel from various units, including the Drug Law Enforcement Unit, Police Intelligence Directorate (PID), Special Weapons and Tactics (SWAT) Unit, Regional Defence Force (RDF), Highway Patrol Unit, and the Criminal Investigations Department (CID), participated in the raid. The team was led by the Volta Regional Crime Officer, Chief Superintendent Mick Omari Boakye, and the Regional Director of the DLEU, DSP Richard Dotsey Gablah. They were ably supported by Superintendent Alexander Adade Yeboah, Regional Director of the Police Intelligence Directorate; DSP Augustine Awuah, Regional Operations Commander; and other senior officers. After a comprehensive briefing, the police team moved to the targeted locations and successfully located and destroyed 11 cannabis farms. The cannabis plants, already at an advanced stage of growth, were cut down and burnt in a controlled operation to ensure the fire did not spread to nearby bushes. Chief Inspector Francis Gomado, the Volta Regional Police Public Affairs Officer, reported that no arrests were made. Individuals present on one of the farms reportedly detected the security team’s approach and managed to escape due to the challenging terrain. Chief Inspector Gomado highlighted that the scale of illegal cultivation uncovered is a stark reminder that drug farming remains a persistent challenge in parts of the region. He gave assurances that the police would intensify intelligence gathering and operational efforts to apprehend those responsible for the cultivation and trafficking of narcotic substances. He further appealed to residents to provide credible information to support law enforcement efforts, guaranteeing that such reports would be treated with utmost confidentiality. The Volta Regional Police Command reaffirmed its commitment to combating the cultivation, trafficking, and abuse of narcotic substances, and to ensuring the safety and security of communities across the region. This latest operation underscores the Ghana Police Service’s determination to step up the fight against drug-related activities and dismantle illegal narcotics networks operating within the Volta Region. Source: Apexnewsgh.com
President Mahama Announces Procurement Process for New Wa Airport
President John Dramani Mahama has revealed plans to commence the procurement process for the construction of a new airport in Wa, Upper West Region, as part of the government’s broader agenda to enhance transport infrastructure and position the region as a key commercial and logistics hub. The announcement was made during a courtesy call by the Upper West Regional House of Chiefs at the Jubilee House on Wednesday, July 8. President Mahama emphasized the government’s commitment to investing in road, rail, and air transport to improve nationwide connectivity. He explained that all necessary documentation for the Wa Airport project has been submitted to the Public Procurement Authority for approval, setting the stage for the procurement phase to begin. “We are improving transport and logistics all over the country, including the railways, the roads, and air travel. And as you would have heard, we are currently about to go to the Public Procurement Authority for authorization to begin procurement for the new airport in Wa,” President Mahama stated. Highlighting the Upper West Region’s strategic position as a gateway to the Sahel, President Mahama noted that enhanced transport infrastructure is vital for expanding trade, economic activity, and regional integration. The new airport is expected to boost mobility, support business growth, and complement the government’s larger infrastructure development plans across Ghana. Source: Apexnewsgh.com
DVLA Refutes Claims of GH¢308,300 Loss in Mobile Money Theft Case Involving Former National Service Person
The Driver and Vehicle Licensing Authority (DVLA) has firmly denied reports suggesting it lost GH¢308,300 in an alleged mobile money theft case involving a former National Service person. The Authority clarified that the funds in question were neither owned by the DVLA nor taken from its accounts. This clarification comes in the wake of the ongoing prosecution of Ebenezer Ghartey, a former National Service person later contracted by the DVLA, who is currently standing trial at the Accra Circuit Court. Ghartey is accused of unlawfully transferring GH¢308,300 from the MTN merchant account of a DVLA administrative officer into his personal mobile money wallet. He has pleaded not guilty to a charge of stealing. According to the prosecution, Ghartey allegedly used part of the funds to purchase a Hyundai Elantra saloon car, a 50-inch Samsung television, and finance other personal expenditures. The court, presided over by Mrs. Emmanuella Sarah Asmah, granted him bail set at GH¢100,000 with three sureties, including one with landed property and another who is a public servant earning at least GH¢5,000 monthly. Ghartey must also report to the case investigator twice weekly as the matter has been adjourned to August 4, 2026. In response to public concerns and media reports, the DVLA issued a statement on Tuesday, July 7, stressing that the alleged theft was a private matter involving individuals and had no connection to the Authority’s finances or official activities. The DVLA reassured the public that its financial management systems remain robust and unaffected by the case. The Authority urged media outlets and the public to report accurately on the matter to prevent any misconception that public funds were misappropriated. It also reaffirmed its commitment to transparency and pledged to cooperate fully with law enforcement agencies should its involvement be required during the ongoing investigation. Source: Apexnewsgh.com
NACOC Boss Raises Alarm Over Public Demand for Rewards in Exchange for Drug Crime Tips
The Director-General of the Narcotics Control Commission (NACOC), Major General Maxwell Obuba Mantey, has voiced concern over a growing trend among some members of the public who now demand financial rewards before sharing information on suspected drug activities. Speaking before Parliament’s Assurances Committee on Tuesday, July 7, 2026, Major General Mantey highlighted the critical importance of citizen intelligence in the fight against narcotics trafficking. His remarks come amid renewed scrutiny of Ghana’s role in international drug trafficking, following the recent seizure of 320 kilogrammes of methamphetamine hidden in a charcoal shipment from Ghana and intercepted in Australia. Major General Mantey stressed that drug traffickers are constantly developing new tactics to evade law enforcement, making close cooperation between NACOC and the public more essential than ever. “Each day, the traffickers evolve new strategies and try to go ahead of us. They connect, and they cooperate among themselves as to how to outwit them,” he explained. While NACOC relies heavily on intelligence from the public to disrupt drug networks, Major General Mantey expressed concern about the expectation of monetary compensation attached to some tips. “Ghanaians now have become a bit demanding so when they send you intelligence, they demand money,” he noted, recalling an incident where an individual sought a house in exchange for providing information. Despite these challenges, Major General Mantey assured the Assurances Committee that the Commission remains committed to working with citizens and all stakeholders in the ongoing battle against narcotics trafficking. He said the agency would continue to pursue intelligence-led operations, even as traffickers adapt with new methods and networks. These comments come as Ghanaian security agencies intensify efforts to disrupt international drug networks, following a series of cases involving narcotics shipments linked to Ghana. Authorities, including Interior Minister Muntaka Mohammed Mubarak, have consistently encouraged citizens to provide credible information to support anti-drug operations, emphasizing that public intelligence plays a vital role in successful drug busts. Major General Mantey concluded that continued collaboration between NACOC and the public would be crucial in preventing Ghana from becoming a transit hub for international drug trafficking. Source: Apexnewsgh.com
Auditor-General Uncovers Over GH¢7.4 Million Paid to Deceased Pensioners
The Auditor-General has revealed a troubling case of payroll irregularities, uncovering that more than GH¢7.4 million was paid out to four deceased pensioners, sparking renewed concerns about lapses in Ghana’s pension administration system. Details of this finding are contained in the latest Report of the Auditor-General on the Public Accounts of Ghana for Ministries, Departments and Other Agencies (MDAs) for the year ended December 31, 2025. According to the report, a total of GH¢7,494,975.34 was disbursed to the four pensioners after their deaths between February 2019 and March 2026, a clear violation of Regulation 88 of the Public Financial Management Regulations, 2019 (L.I. 2378). In response, the Auditor-General has recommended that the Controller and Accountant-General recover the full amount, along with interest calculated at the prevailing Bank of Ghana rate, from the next-of-kin of the deceased pensioners. Any funds recovered are to be paid into the Auditor-General’s Recoveries Account at the Bank of Ghana. The report further cautions that if the money cannot be recovered, legal proceedings should be initiated against both the bankers involved and the next-of-kin of the deceased pensioners. This revelation is part of a broader pattern of payroll irregularities identified in the 2025 audit of MDAs, as the Auditor-General intensifies efforts to strengthen accountability and protect public funds. Source: Apexnewsgh.com
Security Interests Registrations Surge by 26.7% in 2025 – Bank of Ghana Report
Ghana witnessed a significant rise in the number of security interests registered in 2025, reaching 484,059, an increase of 26.7% from the 382,215 registrations recorded in 2024. This development was highlighted in the Bank of Ghana’s 2025 Annual Report and Financial Statements. According to the report, the commerce and finance sector dominated secured lending, accounting for 88.9% of all transactions in 2025. The agriculture, forestry, and fishing sector followed with 4%, while the services sector contributed 3%. The total value of secured loans granted during the year surged to GH¢148.3 billion, up from GH¢60.9 billion in 2024. Banks were responsible for GH¢94.5 billion worth of these loans. Activity at the Collateral Registry also intensified, with the number of searches conducted rising by 11.7% to 72,901 in 2025, compared to 65,267 the year before. Registered collateral assets grew by 21.7%, reaching 584,000 in 2025, up from 479,707 in 2024. The report noted that cash remained the most commonly accepted form of collateral, followed by inventories or stock of goods, and company and business assets. The Collateral Registry issued 200 Memoranda of No Objection certificates in 2025 to support the realisation of security interests in collateral, marking a 33.6% drop from the 301 certificates issued in 2024. A total of 105,029 registrations were discharged during the year, with Savings and Loans Companies recording the highest volumes of registrations, searches, and discharges. The data reflects growing confidence in Ghana’s secured lending environment, as well as increased activity across key economic sectors. Source: Apexnewsgh.com