Armoured Bullion Van Directive: BoG Happy With Compliance By Banks

Governor of the Bank of Ghana (BoG) Dr Ernest Addison has revealed that a ton of the banks in Ghana are conforming to the mandate on the armoured bullion van.

At the 113th Monetary Policy Committee press conference in Accra on Monday, July 13, Dr Addison said the BoG doesn’t anticipate hearing instances of lethal burglary attacks on bullion vans going ahead.

He said, he is happy that lot of the banks are complying with the directives.

It is reviewed that BoG in 2021 gave a mandate for all financial institutions to acquire the protective sophisticated vans failure to which the Bank of Ghana said it would not admit any substandard or soft-skinned Cash in Transit (CIT) vehicles into any of it’s premises nationwide.

This cutoff time was however reached out to July 1, 2023 soon after the James Town robbery attack on a Bullion Van in which a cop was killed and one more by-stander was hit with a stray bullet.

The series of robbery attacks on officials accompanying sub-standard vehicles for cash transfers forced the Inspector General of Police to issue threats not to escort any vehicle without the necessary protection for police officers.

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A Bullion van was recently attacked at Ablekuma in Accra killing a police officer in the process.

In front of a bullion van on security duties, the police officer was shot multiple times at short proximity.

The sad episode followed an attempted robbery at the Star Oil Filling Station at Ablekuma Fan Milk, a suburb of Accra.

Four in number, the looters are said to have followed the bullion van, which went to top off at the fuel station, where the shootout happened.

“The police are on a manhunt to arrest a gang of four robbers who attacked a bullion van at Ablekuma Fanmilk, a suburb of Accra and shot the police escort who has unfortunately passed on,” a statement from the police said.