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BoG Unveils New Anti-Money Laundering Guidelines to Strengthen Financial Oversight

By
Ivy Hollys
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laundering

The Bank of Ghana (BoG) has introduced new Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing (AML/CFT/PF) Guidelines to enhance compliance and oversight within the financial sector.

According to the central bank, the move is part of efforts to protect Ghana’s financial system from illicit financial flows and align with international best practices.

The revised September 2025 guidelines introduce stricter due diligence requirements for banks, specialized deposit-taking institutions, and other regulated entities. Financial institutions must now verify customer identities more thoroughly, assess risk exposure, and report suspicious transactions promptly to the Financial Intelligence Centre (FIC).

The guidelines also assign greater responsibility to boards and senior management to ensure effective compliance systems and continuous staff training in anti-money laundering measures.

The BoG noted that the framework aims to strengthen risk-based supervision and prevent the use of financial institutions for money laundering, terrorism financing, or proliferation-related activities.

Key updates include new provisions on politically exposed persons, beneficial ownership transparency, and the use of technology in monitoring financial transactions.

By reinforcing Ghana’s AML/CFT framework, the central bank aims to boost financial stability, investor confidence, and the nation’s standing as a transparent and secure financial hub.

The BoG said the new guidelines are consistent with the Financial Action Task Force (FATF) recommendations and form part of national efforts to meet international compliance benchmarks ahead of upcoming peer reviews.

The Bank has urged all financial institutions to familiarize themselves with the framework and ensure full compliance, warning that failure to do so will attract regulatory sanctions.

National PTA Council Supports School Hairstyle Policy

By
Ivy Hollys
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hairstyle
Raphael Kofi Gapson, General Secretary, National PTA Council

The National Council for Parent Teacher Associations (PTAs) of Ghana has strongly backed the Ghana Education Service (GES) and the Ministry of Education in enforcing approved hairstyle rules in senior high schools.

The Council said school regulations should not be seen as punishment or control. Instead, they help shape discipline, responsibility, and character among students.

This statement came after Education Minister Haruna Iddrisu urged parents to support the GES in enforcing the hairstyle directive. He explained that the policy aims to promote uniformity, discipline, and fairness among students in secondary schools.

During a stakeholder meeting in Accra on Monday, October 27, Mr. Iddrisu stressed that students will have more freedom of expression at the tertiary level. However, he said the secondary school system must continue to build order and respect for rules.

In an interview, General Secretary of the National PTA Council, Raphael Kofi Gapson, said the policy seeks to promote discipline and personal growth.

Moreover, he noted that the Council supports the government’s focus on discipline, as long as the policy is applied fairly and consistently across all schools.

“We are saying that we should look at the policy holistically and not pick and choose,” Mr. Gapson emphasized.

He also pointed out that discipline has sustained the reputation of Ghana’s top secondary schools often referred to as Category A and B schools.

“All the schools that we call Category A and B have maintained certain standards and discipline for decades. That’s why parents want their children there,” he added.

Afenyo-Markin Says NPP Will Regain Strength Despite Fewer Numbers in Parliament

By
Ivy Hollys
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Focus on Substance Over Numbers

Afenyo-Markin said strong democracies thrive not only on numbers but on leadership, resilience, and ideas that drive national development.

“I’m not in any way worried about the numbers. Like I indicated in my opening remarks in Parliament, it’s about substance,” he said. “Before the final destination, you need to demonstrate your weight. And for me, that is what enriches democracy.”

Lessons from NDC’s Revival

Afenyo-Markin compared the NPP’s current situation to that of the National Democratic Congress (NDC) during its time in opposition under Alban Bagbin. He said the NDC’s eventual comeback showed that political revival is possible through perseverance and unity.

“The state we find ourselves in as a party has happened before to the NDC. I draw a lot of inspiration from the Bagbin-era NDC opposition,” he noted.

He recalled how the NDC, after losing power in 2000, reorganised and returned to government in 2008. He said the NPP can achieve the same by being honest and cohesive.

Acknowledging Weakness and Building Forward

Afenyo-Markin admitted that every government faces both successes and failures. He mentioned that issues such as illegal mining and economic pressures affected the NPP’s support among the middle class and business community.

However, he highlighted major achievements such as the Free Senior High School policy and the One District, One Factory programme as lasting legacies.

“These policies benefited families and encouraged investment. Ghana became a good destination for business,” he said.

Call for Renewal and Unity

Despite setbacks, Afenyo-Markin believes the NPP can rebuild its strength and regain public trust. He urged party members to treat challenges as opportunities for renewal rather than despair.

Bank of Ghana Says Weak U.S. Dollar Strengthened the Cedi in 2025

By
Ivy Hollys
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Bank of Ghana

The Bank of Ghana has confirmed that the recent weakness of the U.S. dollar has supported the Ghana cedi, helping to stabilise the local currency despite challenges in the foreign exchange market.

According to the Central Bank, the U.S. dollar index dropped by about 8 percent between January and August 2025. The decline was mainly due to a slowing American labour market and expectations of interest rate cuts by the U.S. Federal Reserve.

The Bank of Ghana’s September 2025 Monetary Policy Report said the weaker dollar, along with the growing global use of other currencies like the Chinese yuan for trade, has strengthened several emerging market currencies, including the cedi.

In Ghana, the cedi experienced mixed performance during the period. It came under pressure from high import demand and lower forex supply, caused by issues in the Gold-for-Forex programme and reduced remittance inflows.

Despite these hurdles, the cedi still recorded strong gains — appreciating by 28.95 percent against the dollar, 19.49 percent against the pound, and 14.08 percent against the euro on a year-to-date basis. This marks a sharp recovery from the heavy losses recorded during the same period in 2024.

The Central Bank said the cedi’s stability in the coming months will depend on high gold prices, improved forex liquidity following new directives to mining companies, and strict fiscal management.

It added that positive investor confidence from recent IMF programme reviews and developments in U.S. monetary policy could further shape the cedi’s outlook.

Ibrahim Mahama Urges the Wealthy to Support Communities

By
Ivy Hollys
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Ibrahim Mahama (businessman)
Ibrahim Mahama (businessman)

Businessman and philanthropist Ibrahim Mahama has urged wealthy Ghanaians to contribute more to the development of their communities, saying that true success lies in helping others rather than hoarding wealth.

Speaking at an event with movie stars in Kumasi on Saturday, October 25, 2025, Mr. Mahama stressed the importance of generosity and social responsibility, especially among the affluent.

“If you live in a country where help is needed and you don’t help, you are not wise. You can’t be the richest man in the cemetery. One day, you’ll die and leave it all behind,” he said.

Mr. Mahama made the remarks during the launch of “Akwaaba vs Oobakɛ”, a collaborative dramalogue presented by Liezer-Legacy Productions in partnership with the Kumawood Ashanti Film Association (KAFA). The event forms part of efforts to revive Ghana’s movie industry through creative collaboration.

Proceeds from the event will go toward building a permanent office complex for KAFA to promote structured growth in the Ashanti Region’s film and theatre sectors.

The businessman encouraged unity and collective problem-solving, calling on all Ghanaians—regardless of political or social background—to support initiatives that uplift society.

His comments have drawn praise on social media, with many users applauding his humility and consistent advocacy for social responsibility.

Mr. Mahama’s statement reflects his broader belief that wealth should serve a purpose beyond personal comfort. He emphasized that those who have the means must use their resources to improve lives and strengthen communities.

“If you are blessed, use your blessings to support the needy,” he concluded.

Education Ministry Clarifies Ghanaian Language Policy for Basic Schools

By
Ivy Hollys
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education
Dr. Clement Apaak, Deputy Minister for Education

The Ministry of Education has clarified that the compulsory use of Ghanaian languages as a medium of instruction applies only from Kindergarten to Primary Three, not throughout all basic school levels.

The clarification follows recent public debate after Education Minister Haruna Iddrisu directed schools to adopt Ghanaian languages as the language of instruction.

Speaking at the launch of the Foundational Learning Action Tracker on Monday, October 27, Deputy Education Minister Clement Apaak explained that the policy covers only lower primary levels.

“The Honorable Minister for Education has asked me to clarify that the policy directive he announced on Friday regarding the compulsory use of mother tongue as a medium of instruction in our public basic schools is confined, emphasis, confined to KG up to Primary 3,” Dr. Apaak stated.

He added that the clarification was to address public misconceptions and reassure stakeholders.

The Ministry maintains that the policy aims to strengthen literacy and comprehension skills among young learners by allowing them to learn in familiar languages before transitioning to English at upper primary levels.

Two Arrested Over $102M Louvre Jewel Heist

By
Ivy Hollys
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louvre

French police have arrested two men in connection with last week’s $102 million jewel heist at the Louvre Museum in Paris, while a nationwide manhunt continues for two others.

According to the French National Police, one suspect was arrested Saturday night at Charles de Gaulle Airport while trying to board a flight to Algeria. The second suspect was caught while preparing to travel to Mali.

Both men are French nationals from Seine-Saint-Denis, a suburb of Paris. One holds dual citizenship with Mali, and the other with Algeria. Investigators say both have previous burglary records.

Police linked one of the suspects to the crime through DNA evidence found on a helmet left at the scene, leading to weeks of surveillance before the arrests.

The two men are believed to have taken part in the October 19 heist, where thieves stole eight priceless items, including crowns and jewelry once owned by Napoleon and his wife, from the Louvre’s Apollo Gallery.

Investigators say the thieves used a modified freight elevator and an angle grinder to break through a second-floor window and smash display cases in a seven-minute operation.

Authorities are still searching for the missing jewels and investigating whether an insider at the museum helped the thieves.

Interior Minister Laurent Nuñez praised police for their “tireless work” and said the probe will continue under the Paris Public Prosecutor’s Office.

President Emmanuel Macron condemned the theft as “an attack on our national heritage,” while Culture Minister Rachida Dati called it “a simple but spectacular operation.”

The two remaining suspects are believed to have escaped Paris on motorbikes shortly after the robbery.

GES Dismisses Reports of Ongoing Recruitment

By
Ivy Hollys
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ges

The Ghana Education Service (GES) has dismissed claims that it is currently conducting recruitment exercises, following widespread speculation on social media and other platforms.

In a statement posted on Facebook, Hasmin Mohammed, Press Secretary to the Minister of Education, clarified that the recent financial clearance approved by Cabinet was not for new recruitment but to facilitate the payment of salaries for over 6,200 teachers who were recruited in 2024 but had expired financial clearance.

“Please be advised that the Ghana Education Service is not currently conducting any recruitment exercises. The recent financial clearance received from Cabinet is specifically intended to facilitate the payment of salaries for over 6,200 teachers who were recruited in 2024 but had expired financial clearance,” Mr. Mohammed stated.

He added that while plans are underway for the recruitment of additional teaching and non-teaching staff, the public should wait for an official announcement.

“The public will be duly informed when the official recruitment window opens,” he assured.

Mr. Mohammed also cautioned Ghanaians to rely only on official GES and Ministry of Education communication channels for accurate and verified information, warning against misinformation circulating online.

The clarification comes amid growing interest in public sector employment opportunities and the spread of fake recruitment notices on social media platforms.

Haruna Iddrisu Vows To Ban Long Hair in Senior High Schools

By
Ivy Hollys
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Hon. Haruna Iddrisu
Hon. Haruna Iddrisu

The Minister of Education, Haruna Iddrisu, has firmly stated that senior high schools (SHS) across the country will not permit students to wear long hair, whether natural or styled, on campus.

Addressing the 75th anniversary celebration of Mawuli Senior High School in the Volta Region on Saturday, October 25, Mr. Iddrisu emphasized that the secondary school environment is designed for learning and discipline, not personal fashion or beauty expression.

“We will not tolerate long hair today or tomorrow. Schools are institutions for character formation, not beauty contests,” he said.

The Minister’s remarks come amid a public debate sparked by a viral social media video showing a first-year female student of Yaa Asantewaa Senior High School crying as her mother took her to a barber to cut her long natural hair before admission. The video reignited national discussions about student grooming policies in senior high schools.

According to reports, the girl’s father later confronted the barber for recording and sharing the video without parental consent. The incident has since drawn widespread attention, with many people debating whether such policies are outdated or necessary to maintain discipline.

Mr. Iddrisu, however, maintained that grooming standards are an integral part of school discipline.

“If we give in to hair today, tomorrow it will be shoes, and the next day, how students dress,” he explained. “Headmasters and the Ghana Education Service are fully empowered to enforce rules that ensure discipline and order in schools.”

He reiterated that institutions of learning exist to nurture discipline, character, and academic excellence, not to accommodate trends or personal preferences

Minority Cautions Government Over Proposed Online Speech Law

By
Ivy Hollys
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Kojo Oppong Nkrumah
Kojo Oppong Nkrumah

The Minority in Parliament has expressed strong concern over what it calls an attempt by the government to criminalize free speech through a new draft bill targeting online communication.

At a press briefing on Sunday, October 26, former Minister of Information and Member of Parliament for Ofoase-Ayirebi, Kojo Oppong Nkrumah, said the draft legislation seeks to make it an offence for individuals to post or share messages in online chat groups that may be considered offensive or inciteful.

According to him, the proposal appears to follow President John Dramani Mahama’s recent directive to track the IP addresses of persons accused of spreading hate speech or inciting violence online.

Mr. Oppong Nkrumah warned that such measures could pose a serious threat to freedom of expression in Ghana.

“What we are seeing appears to be a draft, and they want to consult on it. From what I have seen, this draft is dangerous,” he said.

He further criticized the move as part of a growing trend of government overreach.

“The President said they are going to use the national security apparatus to go after people who make comments on social media that they consider unfavourable. Now we are seeing a draft bill that could criminalise such comments. This is worrying,” he added.

Mr. Oppong Nkrumah noted that many countries have been moving away from laws that punish speech, opting instead for civil remedies and public education to counter misinformation and harmful content.

“This represents a serious encroachment on free expression. The government must tread cautiously,” he advised.

The Minority has called on the government to withdraw the proposal, warning that criminalizing online expression could undermine Ghana’s democratic values and the spirit of open public debate.

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