The Commissioner of the Rent Control Department, Frederick Opoku, has expressed strong concern over the increasing practice of charging rent in United States dollars in parts of the country, describing it as unacceptable and contrary to Ghana’s legal tender regulations.
Speaking on Joy FM’s Super Morning Show on Tuesday, Mr Opoku argued that the growing “dollarisation” of the rental market undermines national monetary policy and must be brought to an end.
He stressed that Ghanaian law recognises the cedi as the sole legal tender for transactions within the country, and therefore, the use of foreign currency to price rent and related services is not permitted.
He further indicated that his office would deepen collaboration with the Bank of Ghana to clamp down on the practice of pricing goods and services in foreign currency, particularly the US dollar, within the domestic economy.
Mr Opoku noted that he had engaged the Bank of Ghana’s Financial Markets Department in discussions aimed at strengthening enforcement and addressing the issue of dollarisation.
According to him, sustained enforcement and coordinated regulatory action will be necessary to ensure compliance and protect the integrity of Ghana’s financial and rental systems.
He warned that if left unchecked, the trend could distort the market and weaken the effectiveness of existing legal frameworks governing pricing and tenancy.
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