The Bank of Ghana (BoG) has suspended the remittance partnerships of five Money Transfer Operators (MTOs) for one month, effective September 18, 2025.

The affected firms are Taptap Send, Top Connect, Remit Choice, Send App, and Afriex.

According to a statement from the Bank’s Communications Department, the suspension follows breaches of the Updated Guidelines for Inward Remittance Services by Payment Service Providers (2023), as amended by Notice No. BG/GOV/SEC/2025/25.

The BoG explained that the MTOs were found to have engaged in unauthorised remittance activities with Halges Financial Technologies Limited, Cellulant Limited, and Flutterwave Inc., using UBA Ghana as their settlement bank.

The regulator noted that the suspended operators will only be allowed to resume activities after their partner payment service providers (PSPs) or banks re-apply for approval and the applications are duly considered by the BoG, following the expiration of the suspension.

The Bank further cautioned players in the foreign exchange market to comply strictly with existing forex market regulations and guidelines to avoid similar sanctions.