EOCO Monitors Compliance Of BoG’s Directive On Dollarisation

BIADELA MORTEY C.E.O  EOCOThe Economic and Organised Crime Office (EOCO) Task force on the ban on foreign currency transactions, has begun a nationwide monitoring of the adherence of the Bank of Ghana’s (BoG) recent directives a the pricing of goods and services in foreign currencies.

Members of the team yesterday visited a number of business organisations in Accra and no violations of the directives had been detected by the team at the time of going to press.

Mr. Biadela Mortey Akpadzi, Executive Director of EOCO, told The Ghanaian Times on telephone yesterday afternoon that, the exercise began “smoothly.”

He said the Office would analyse the outcome of yesterday’s operation for a modification of the strategy, where necessary.
The BoG recently issued a number of directives, including a ban on the quoting of prices in foreign currencies locally, as part of measures to halt the dollarisation of the country’s economy.

Following that, EOCO has set up a task force to enforce the adherence of the directives by the business community in the country.
EOCO, in a statement, said the task force would visit hotels, forex bureaux, shops and all other organisations that quote prices in foreign currency to ensure the compliance of the directive.

Officials of EOCO, the statement said, would carry out the necessary identification documents along during the inspection and the urged public to demand and examine such documents.

The statement also reminded the public that the deadline for the tax amnesty, declared by government for companies and other persons liable to pay tax, had long expired.

It said a joint EOCO and Ghana Revenue Authority task force would on March 3, embark on an exerciseto investigate, arrest and prosecute all companies and persons who would fail or refuse to fulfill their tax obligations. By Edmund Mingle

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