• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, May 31, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
Home News Opinions

BoG Waiting For Another Disaster?

February 22, 2024
in Opinions
Reading Time: 4 mins read
0

In the intricate realm of global affairs, Ghana stands as a paradox, a nation caught in the relentless grip of reactive governance. 

Its leaders, entrusted with the sacred duty of steering the ship of state, seem to have adopted a peculiar philosophy – a philosophy of waiting for storm clouds to gather before unfurling the sails of action. 

As the world hurtles forward, Ghana remains tethered to a tradition of procrastination, only mustering the will to address long-standing issues when they metamorphose into full-blown crises. 

RelatedPosts

John Mahama: Trump’s Unfounded Attack on Cyril Ramaphosa was an Insult to all Africans

Zoomlion’s Unholy Waste Mines

Zoomlion Advised Deal To Stay ‘Dead And Buried’

This habitual reactivity not only jeopardizes the nation’s well-being but also leaves the world watching in incredulous fascination at a leadership seemingly trapped in the clutches of inertia.

In the arena of global geopolitics, the adage “prevention is better than cure” finds its resonance in the elusive art of proactivity. 

Yet, within the borders of Ghana, this fundamental principle appears to be but a distant whisper drowned out by the cacophony of crises. 

The leadership and institutions of this nation have mastered the art of reactive governance, a practice that transforms issues into ticking time bombs, detonating only when the urgency of disaster demands their attention. 

This alarming pattern not only underscores a lack of foresight but also raises profound questions about the capacity and commitment of those at the helm.

You may recall that the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, confirmed that most banks in the country have complied with the directive to purchase ‘bulletproof’ bullion vans for transporting cash. 

This came after the Central Bank directed all banks to acquire ‘bulletproof’ bullion vehicles to transit cash by July 1, 2023. 

Before then there had been a series of robbery attacks on vans transporting cash, leading to the death of a police escort. 

According to the Governor, “Ideally, there should be police escorts who should not be in these vans. But rather following these vehicles.”

Speaking at the 113th Monetary Policy Committee (MPC) press conference in Accra on Monday, July 24, 2023, Dr. Addison said the banks had complied with the directive. He said, “I have seen a lot of clearances from the Ministry of Interior to aid these imports and even those that have already brought in these cars.”

A Call For Proactive Measures

Despite the assurances from the Governor of the Bank of Ghana that banks have complied with the directive to purchase bullion vans, recent observations paint a different picture. 

Fast forward to today, and it’s evident that some banks continue to utilize refitted pickup trucks for cash transportation. 

Even if these pickups have been upgraded with armor plating, they still lack the structural integrity and specialized design inherent to standard bullion vans.

Standard bullion vans are purpose-built vehicles engineered with a suite of features specifically tailored for secure cash transit. 

These features include reinforced armor plating, robust locking systems, and compartments designed to deter and withstand attempted robberies. 

Moreover, bullion vans often come equipped with advanced security technologies such as GPS tracking, panic buttons, and secure communication systems, further enhancing their ability to prevent and respond to security threats effectively.

In contrast, refitted pickup trucks, while may be armored, are not structurally designed to fulfill the demanding requirements of cash transit. 

Their conversions typically lack the specialized security features found in dedicated bullion vans, leaving them vulnerable to breaches and compromising the safety of both personnel and assets.

Given the critical role of secure cash transportation in maintaining financial stability and public safety, it is imperative that authorities take proactive measures to address this issue. 

The continued use of inadequately equipped vehicles for cash transit poses significant risks and undermines efforts to combat robbery attacks effectively.

Therefore, authorities must enforce strict compliance with regulations mandating the use of standard bullion vans for cash transportation by financial institutions. 

Additionally, there should be regular audits and inspections to ensure adherence to safety standards and protocols. 

Investing in the proper infrastructure and equipment now will not only mitigate the risk of future security breaches but also safeguard the integrity of Ghana’s financial system and protect the welfare of its citizens. 

They should not wait for another tragedy before they act.

READ ALSO: You Can’t Shoot Your Way Through An Ideological War

Tags: Bank of GhanaBullion VansDr. Ernest Addisonghana
Share5Tweet3Share1SendSend
Previous Post

Court Adjourns Case Between Charles Bissue and OSP

Next Post

Dr. Draman Declares Majority Leader’s Exit As A Dent On Ghana’s Democracy

Related Posts

HE President John Dramani Mahama

John Mahama: Trump’s Unfounded Attack on Cyril Ramaphosa was an Insult to all Africans

by Evans Junior Owu
May 28, 2025
0

The meeting at the White House between Donald Trump and the South African president, Cyril Ramaphosa, was, at its heart, about the preservation of essential historical truths. The US President’s claims of white genocide conflict with...

Parliament’s Sanitation Committee Rebuked over Defence of Zoomlion-YEA Contract

Zoomlion’s Unholy Waste Mines

by Evans Junior Owu
May 23, 2025
0

It wouldn't be a stretch to infer from recent discussions in Ghana that everyone in the country is obligingly following table manners at Zoomlion's dining table. Few voices have consistently stood up to challenge what increasingly...

zoomlion's monopoly over sanitation under scrutiny

Zoomlion Advised Deal To Stay ‘Dead And Buried’

by Lilian Ahedor
April 24, 2025
0

The controversial Zoomlion contract must never be resurrected.  That is the passionate and urgent plea investigative journalist Manasseh Azure Awuni has made to Malik Basintale, the newly appointed Chief Executive Officer of the Youth Employment Agency...

Mrs Jean Adukwei Mensah, EC Chairperson

When One Sin Scars a Nation, Let Not Another Rise from Ablekuma North

by Evans Junior Owu
April 29, 2025
0

Today, April 22nd, marks the 106th day since the Republic of Ghana inaugurated its ninth parliament and the sixth President of the 4th Republic. This important transition followed the December 7 General Elections held to elect...

From Classrooms to Capital Markets: Yaa Asantewaa Girls Partners Women in Forex Ghana to Shape Futures

From Classrooms to Capital Markets: Yaa Asantewaa Girls Partners Women in Forex Ghana to Shape Futures

by Stephen M.C
April 22, 2025
0

Yaa Asantewaa Girls School ahead of its 65th anniversary celebrations has collaborated with Women in forex Ghana under its initiative: THE ELEVATE GHANA FOREX PROJECT to train and mentor 3,500 students in digital finance literacy/skill set...

Please login to join discussion

Recent News

  • Mahama Reaffirms Commitment to Ahafo Region, Outlines Bold Development Agenda
  • Hamas Responds To US Ceasefire Proposal
  • Chief Justice’s Conduct Under Fire Amid Petition
  • Ministry of Health Leads 2025 No Tobacco Day Campaign
  • GuiltyBeatz on Humble Beginnings in Music Production
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.