The Minority in Parliament wants a permanent ban on mobile money transfer charges, saying the Bank of Ghana’s suspension of a proposed 0.75 percent fee does not go far enough.
The opposition caucus is demanding an unconditional ban on any wallet-to-bank or bank-to-wallet charges unless approved by an Act of Parliament.
The Bank of Ghana this week ordered Mobile Money Fintech Limited (MMFL) to suspend the planned 0.75 percent fee on direct wallet-to-bank transfers, capped at five cedis per transaction, pending consultations. The charge was due to take effect on 1 June.
Minority Leader Alexander Afenyo-Markin said the suspension was insufficient and argued that introducing levy-like charges without parliamentary approval breaches the Constitution. He said the caucus was “not interested in the suspension.”
He called on the central bank to dismantle the framework behind the charges and urged the Attorney-General to issue a constitutional interpretation on imposing tax-equivalent fees through fintech operators without parliamentary oversight.
Afenyo-Markin also demanded that the Finance Minister appear before Parliament to explain how the charge originated and was approved. The Minority warned that if investigations reveal executive involvement, the government should formally apologise to Ghanaians.
The proposed fee would have applied even to transfers customers made to their own bank accounts, a service that was previously free. It surfaced months after the government scrapped the Electronic Transfer Levy on mobile money. The Bank of Ghana has yet to respond substantively to the Minority’s latest demands.
