Bank of Ghana suspends remittance partnerships of Flutterwave Inc. and Cellulant Ghana for a period of one month, effective as of 18 September 2025, for breach of Central Bank’s guidance.
According to bank officials, the sanctions are the result of multiple violations of the Updated Guidelines for Inward Remittance Services for Payment Service Providers 2023. The affected PSPs have conducted unauthorised remittance activities on behalf of Money Transfer Operators (MTO), including Send App, TapTap Send, and Top Connect and, therefore, all remittance partnerships between these PSPs and MTOs have been suspended.
Moreover, in the future, companies must reapply for approval to continue their activity after the suspension period comes to an end.
The Bank of Ghana advice all market players to adhere strictly to the new Updated Guidelines, as well as all applicable foreign exchange market regulations. Non-compliance will further attract regulatory sanctions according to the law.
Additional information about Flutterwave and Cellulant Ghana
Flutterwave Inc. empowers businesses of all sizes to provide seamless payment solutions. Some of its services include online checkout features, payments acceptance, and transfers.
African fintech Cellulant aims to deliver seamless, secure, and innovative payment solutions for businesses. Founded in 2003, the company connects the world to Africa through seamless digital payments. Some of its solutions include payment collection, and payouts.
