Flutterwave has pushed back against a Bank of Ghana (BoG) directive affecting inbound remittances, describing the move as unexpected and rooted in a “misunderstanding.”
The fintech company confirmed that the suspension applies only to remittance flows received through its SendApp platform, while its wider suite of services, including Flutterwave for Business and all other operations under its Payment Service Provider (PSP) licence, remain unaffected.
“We are surprised by this directive as we have always maintained a cordial and collaborative relationship with the Bank of Ghana. We believe this development arises from a misunderstanding, and we are already in touch with the BoG and our banking partner to clarify matters and work towards a swift resolution,” Flutterwave said in a statement.
The company stressed that regulatory compliance remains central to its operations as it seeks to safeguard confidence in its platforms. “Our priority remains the provision of reliable services to our customers in full alignment with regulatory requirements. We greatly value the guidance of the Bank of Ghana and the trust of our users, and we are committed to ensuring full compliance as we resolve this matter.”
The sanctions, from BoG which is effective September 18, 2025, follow findings that the firm conducted unauthorised remittance services for money transfer operators (MTOs).
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According to the BoG, the action, under the Updated Guidelines for Inward Remittance Services (2023) and Notice No. BG/GOV/SEC/2025/25, points to multiple breaches of sections 5 and 7.1–7.3, which govern licensing, settlement, and due diligence obligations for payment service providers (PSPs).
