Accra: The Bank of Ghana facilitated refunds of about GHS42 million to deserving complainants between 2022 and 2025, while imposing GHS4.6 million in sanctions on financial institutions that failed to comply with regulatory requirements.
According to Ghana Web, this was disclosed by Dr. Kwesi Yeboah, the Director of Financial Stability at the Bank of Ghana on behalf of the Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu at the launch of the Ghana Customer Service Index (G-CSI) report. He stated that the central bank has improved customer service and consumer protection by strengthening complaint handling systems and introducing better regulatory measures.
Dr. Yeboah noted that these efforts have helped increase the rate of resolved banking complaints from 64% in 2022 to 81% in 2025, indicating improved capacity and stronger supervision. "The Bank also facilitated about GHS42 million in refunds to deserving complainants while imposing approximately GHS4.6 million in sanctions on non-compliant institutions, reinforcing accountability across the banking sector," he stated.
He further explained that the increase in complaints is mainly because more people are now aware of the channels available to report issues and have gained confidence in the Bank of Ghana's consumer protection system. Dr. Yeboah added that the central bank remains committed to protecting customers, improving service standards, and ensuring financial institutions are accountable to their customers.