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Anyone holding $10K+MUST declare source when entering, leaving Ghana – BoG

Any person arriving in or departing from Ghana carrying in excess of $10,000 shall declare the amount indicating the source and purpose for carrying such an amount, The Bank of Ghana (BoG) has said.

The Central Bank has warned that anyone who fails to declare source or purpose of carrying the amount shall have all his currencies or monetary instruments sized.

The Bank of Ghana in a statement added that the person 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 statement said.

“Transportation of currency through mails or cargo is strictly prohibited and such amounts shall be confiscated to the state,” the statement added.

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.

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