The Bank of Ghana is preparing to roll out a stringent set of directives targeting opaque bank charges, unsafe digital lending practices and governance lapses within the banking sector.
This is part of new measures to protect customers and strengthen regulatory oversight.
The Central Bank is signalling a tougher stance on commercial banks that continue to impose arbitrary fees under the guise of operational cost recovery, warning that the era of unchecked charges will no longer be tolerated.
Governor of the Bank of Ghana Dr. Johnson Asiama, disclosed this at the opening session of a post-Monetary Policy Committee meeting with Heads of Banks where he announced that authorities are finalising comprehensive policy directives that will set clear benchmarks on pricing disclosures across licensed banks.
It comes on the heels of a Citi/Channel One TV Business petition in which hundreds of public complaints on inter-account transfer fees were submitted to the Central Bank for redress.
In addition, the Bank is tightening controls on interest charges across digital platforms, enhancing transparency in foreign exchange (FX) pricing, addressing non-performing loans (NPLs) and ensuring the recapitalisation of commercial banks.
“We have received reports that some banks continue to apply interest charges on credit accounts that remain inactive. This results in cases where accrued interest exceeds the original principal.”
“Let me clear, such practices are unacceptable and must end. This distorts customer outcomes and misrepresent the true profitability of lending portfolios and violates the principles of fair treatment and transparency. We expect all banks to review their pricing models and ensure that customer charges reflect ethical and commercially defensible standards”, the Governor said.
The implementation of all these new regulations will be phased.
Some are taking effect from July and August 2025, while others such as a 10% cap on NPL ratios are expected to become operational in 2026.
One key component of the measures is a directive requiring commercial banks to publish details of “blacklisted” borrowers and entities with a history of default in their annual accounts.
This is to improve credit risk management and deter chronic defaults that continue to threaten the stability of the banking system.
