More armoured bullion vans imported, Interior Minister has to give release approval – BoG Governor

Dr. Ernest Addion, the Governor of the Bank of Ghana (BoG), has disclosed that additional armored bullion vans have been imported into the country to help reduce the frequency of robbery attacks on these vans.

He mentioned that the approval for releasing the bullion vans lies with the Minister for the Interior.

During the 113th Monetary Policy Committee (MPC) press conference held in Accra on Monday, July 24, Dr. Addion asserted that the BoG does not anticipate further cases of fatal robbery attacks on bullion vans going forward.

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“The Ministry of Interior has to give approval for them to be released,” he said.

Dr Addison further indicated that a lot of the banks in Ghana are complying with the directive on the armoured bullion van.

“A lot of the banks are complying with the directive, he said.

He reminded that in 2021, the central bank had issued a directive mandating all financial institutions to acquire protective sophisticated vans; otherwise, substandard or soft-skinned Cash in Transit (CIT) vehicles would not be allowed into any BoG premises across the country.

Initially, the deadline for compliance was set for July 1, 2023. However, it was extended after the James Town robbery attack on a Bullion Van that resulted in the death of a police officer and a bystander being hit by a stray bullet.

The continuous series of robbery attacks on officers accompanying sub-standard vehicles for cash transfers led the Inspector General of Police to issue threats against escorting any vehicle without proper protection for police officers.

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In a recent incident in Ablekuma, Accra, a Bullion van was attacked, resulting in the death of a police officer who was shot multiple times at close range. The incident occurred during an attempted robbery at the Star Oil Filling Station in Ablekuma Fan Milk, a suburb of Accra. The robbers followed the bullion van to the fuel station, leading to the shootout.

As a response to these alarming incidents, efforts have been made to increase the number of armored bullion vans to enhance security and mitigate the risk of such attacks in the future.

“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.

“Our prayers and thoughts are with the family of our deceased colleague in particular and all personnel of the Police Service in general.

“We wish to assure the public that we will surely get the robbers arrested to face justice.”

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