BoG pushes IMTO registration deadline to end to July 31

The Bank of Ghana (BoG) has extended the registration deadline for International Money Transfer Operators (IMTOs) to July 31, 2026, giving firms that have yet to comply with the requirements additional time to complete the process.

The extension is intended to provide operators that have not yet finalised their registration another opportunity to regularise their operations and comply with the central bank’s guidelines.

The move follows directives issued earlier in 2026 outlining new requirements for the registration and operation of money transfer companies in the country.

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The Bank of Ghana has urged all affected operators to take advantage of the extension and submit the necessary documentation before the new deadline expires.

At the same time, the regulator made it clear that failure to comply will attract serious consequences.

“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 statement said.

Beyond the termination of such partnerships, the central bank warned that operators who remain unregistered could face further regulatory action and sanctions under existing laws.

The latest directive forms part of the Bank’s efforts to improve transparency, strengthen regulatory oversight, and promote greater compliance within Ghana’s remittance industry, which continues to play a vital role in the economy.

Banks, SDIs, and PSPs have also been reminded of their responsibility to verify the status of their IMTO partners and ensure that they meet all registration requirements before continuing any business relationship.

The extension effectively provides a final grace period for operators to align with the Bank of Ghana’s regulatory framework and avoid the risk of being excluded from the market.

FRA/MA