The Bank of Ghana (BoG) has announced that individuals arriving in or departing from Ghana carrying in excess of $10,000 should declare the amount using the Currency Declaration Form (CDF) indicating the source and purpose for carrying such an amount.
Failure to do so or a false declaration according to the Central Bank shall lead to the seizure and/ or forfeiture of all the currency or monetary instruments. They may be subject to penalties and/ or criminal prosecution.
“If you have someone else carrying the currency or monetary instrument for you, you must also declare at the point of entry or exit,” the BoG said in a statement.
Persons carrying up to $10,000 or its equivalent in any other monetary instruments shall not make any declaration.
Monetary instruments according to the Central Bank include coins, currency, traveller’s cheques and bearer instruments such as personal or cashier cheques, bearer shares and bonds.
“Transportation of currency through emails or cargo is strictly prohibited and such amounts shall be confiscated to the State,” the statement added.
