Banks to use armoured bullion vans from July 1 – ABOG

Commercial banks operating in the country are expected to start using armoured bullion vans or vehicles for Cash in Transit (CIT) activities from July 1, 2023.

This is according to the Association of Bullion Operators Ghana whose President, Alhaji Iddi Sumaila has disclosed that some banks, however are yet to finalize their respective agreements with the Association.

“By 1st of July we will see banks using armoured vehicles/bullion vans. However, other banks have not finalized the agreement with us,” he told Accra-based 3FM in an interview.

“We have about 150 bullion vans in the country. Most banks have signed contracts with us to deploy to them. It goes through a process for the banks to get it and that takes time,” Iddi Sumaila added.

Following a spate of robbery incidents on CIT vehicles in 2021, the Bank of Ghana issued a directive for financial institutions to procure armoured bullion vans.

Meanwhile, the recent disclosure by ABOG comes after a robbery attack on a CIT vehicle took place at a filling station in Ablekuma on June 22, resulting in the shooting and death of a police officer on duty.

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