Rent Commissioner, BoG begin move to end dollar rent payments

The Bank of Ghana (BoG) and the Rent Control Department have initiated discussions aimed at stopping the practice of charging rent in United States dollars in Ghana, the acting Rent Commissioner, Frederick Opoku, has said.

Speaking in a radio interview monitored by Graphic Online on Joy FM on Tuesday, May 12, 2026, Mr Opoku said there were also plans to amend Ghana’s Rent Act of 1963 by the end of 2026.

Mr Opoku said he has met with the Financial Markets Department of the Bank of Ghana over how to strengthen the enforcement of existing directives requiring domestic transactions to be conducted in Ghana cedis.

“I met the Bank of Ghana, the Financial Markets Department, and they are to help stop this kind of dollarisation,” he said.

“Bank of Ghana has been issuing directives. Who listens to them? Enforcement. Ghana is becoming a lawless country. People boldly come on television and say $1million, $3million, and go with that impunity. That is what we have to kill,” he added.

Mr Opoku said the practice of pricing and collecting rent in dollars was against the law and that the Rent Control Department intended to work with the central bank to deal with the issue.

He said the partnership with the Bank of Ghana was expected to produce results and not end with public statements alone.

On the proposed amendment of the Rent Act, Mr Opoku said the law, which has been in force since 1963, needed to be updated to reflect present conditions in the housing market.

“I am hoping that by the end of the year, some of the places we believe need to be amended will be amended,” he said.