Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana (BoG), has urged all banks to enhance their internal controls and strengthen oversight of their operations.
He emphasized that securing banking products and services should be the responsibility of institutions, rather than relying solely on the average customer, who depends on the integrity of systems and due diligence.
Speaking at the maiden post-Monetary Policy Committee (MPC) meeting with the Chief Executive Officers (CEOs) of banks in Accra, Dr. Asiama highlighted the importance of these engagements in fostering a mutual understanding of policy direction and ensuring alignment in efforts to achieve macroeconomic stability and recovery.
He informed the CEOs that the BoG’s Information Security Office continues to provide real-time threat alerts, urging institutions to act swiftly in line with the Cybersecurity Directive. “We take cyber threats seriously and urge all financial institutions to match that level of commitment,” he said.
The Governor also stressed the need for banks to emphasize vigilance and full compliance with anti-money laundering obligations.
He pointed out that lessons learned from past bank resolutions are instrumental in refining supervisory and resolution tools, which will help strengthen recovery planning and introduce a Resolvability Assessment Framework to ensure that banks are both well-capitalized and resolvable in times of distress, particularly in an increasingly interconnected financial system.
Dr. Asiama called on banks to support Ghana’s economic transformation by improving trade finance, cross-border payment infrastructure, and platforms like the Pan-African Payment and Settlement System.
He noted that the BoG would engage with the sector to develop coordinated solutions that enhance transaction efficiency, support exports, and improve Ghana’s competitiveness in regional and global trade.
“To build true resilience, we must move decisively beyond traditional, reactive supervision toward a more forward-looking, risk-sensitive, and system-aware model,” he said.
The Governor emphasized that this shift is not just about enforcing compliance but about shaping a banking system that is agile, accountable, and prepared for the future.
The strategy, he added, is focused on risk identification and mitigation, building digital resilience, improving governance and compliance, fostering collaboration, building capacity for future challenges, and prioritizing sustainability oversight.
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