The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have issued a strong warning to the public against a purported crypto investment platform known as “Daily Wealth Guide”, describing it as a scam designed to defraud unsuspecting Ghanaians.
The warning follows the circulation of a doctored video on social media in which President John Dramani Mahama is falsely portrayed as endorsing the investment platform.
In a public notice dated September 1, 2026, the two financial regulators cautioned members of the public not to be deceived by the video or any claims suggesting that the President has endorsed the platform.
According to the BoG and SEC, the individuals behind the scheme are allegedly promising members of the public high returns on their investments through a crypto-related platform.
The regulators said such activities constitute unlawful deposit-taking under the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).
The Bank of Ghana stated categorically that it has not licensed any entity or individual to engage in crypto investment.
It warned that persons or entities involved in receiving funds from the public through such schemes are operating illegally and could face sanctions, including an obligation to refund monies received from victims.
Under Section 4(i) of Act 930, only a body corporate licensed by the Bank of Ghana is permitted to conduct deposit-taking business.
The central bank therefore urged the public to exercise extreme caution before depositing money with individuals, companies or online platforms claiming to offer investment opportunities.
The warning was issued in accordance with Sections 8 and 52 of the Anti-Money Laundering Act, 2020 (Act 1044).
The BoG and SEC further warned that persons or entities found to be operating the scheme could face significant administrative penalties.
According to the notice, offenders may be liable to an administrative penalty ranging from 500 to 100,000 penalty units under Section 53(3) of Act 1044.
The regulators also said individuals and entities engaged in such activities could be referred to law enforcement agencies for investigation and prosecution under relevant provisions of the Anti-Money Laundering Act.
“The Bank of Ghana and the Securities and Exchange Commission will not hesitate to seek the assistance of law enforcement agencies to arrest and prosecute persons who are found culpable,” the notice stated.
The BoG has advised the public to verify the licensing status of any individual or entity offering investment or deposit-taking services before committing funds.
Members of the public have also been reminded to place deposits only with institutions licensed by the Bank of Ghana or other relevant regulatory authorities.
The regulators stressed that members of the public should not rely solely on social media advertisements, endorsements or promotional videos when deciding whether to invest their money.
They encouraged potential investors to independently confirm the regulatory status of investment companies and platforms before transferring funds.
The Bank of Ghana has also directed media organisations, including radio, television and online platforms, not to carry advertisements promoting the operators behind the alleged scam.
The central bank urged media houses to verify the licensing status of companies or individuals before publishing or broadcasting advertisements for their investment products and services.
The directive is intended to prevent fraudulent investment schemes from using mainstream and digital media platforms to reach a wider audience.
The BoG and SEC have urged anyone who encounters the “Daily Wealth Guide” scheme or similar investment activities to report them to the appropriate authorities.
Reports can be made to the Bank of Ghana’s Financial Stability Department at:
Bank of Ghana The Bank Square 42 Castle Road Ridge, Accra P.O. Box 2674, Accra, Ghana.
The regulators reiterated their call on the public to remain vigilant and avoid transferring money to unlicensed investment operators.
They cautioned that the use of a purported presidential endorsement in the promotion of the “Daily Wealth Guide” platform should not be interpreted as proof of its legitimacy, particularly because the video circulating online has been identified as doctored.
The public has consequently been advised to take note of the warning and be guided accordingly to avoid falling victim to investment fraud.
By 1960news.com
