Bank of Ghana reacts to matter on Black Stars winning bonus

The Bank of Ghana has responded to allegations that it is refusing to pay winning bonuses to the national team, the Black Stars following their participation in the 2010 World Cup in South Africa.

In a press release copied to ghanabusinessnews.com, the central bank says it has noted discussions in sections of the electronic media concerning the bank’s alleged refusal to pay the Black Stars their winning bonuses and states that the bank has not refused to pay the Black Stars.

According to the bank it serves customers in accordance with its operational guidelines and that “it is against prudent operational practice to make payments to individuals in excess of $10,000.00 (Ten thousand dollars) in over-the-counter transactions.”

Accordingly, the bank says it has informed the Ministry of Youth and Sports that the bank would pay the foreign exchange amounts in question either to the bank accounts of the Black Stars players, or by cheques drawn on the bank’s external account. This it says “is in line with international best practice and with various security considerations.”

The bank has therefore requested the Ministry to furnish it with a list of the names of the players and the respective amounts to each player to enable it to make the payments. The bank is still expecting a response from the Ministry, it added.

By Emmanuel K. Dogbevi