BANK OF GHANA ACT - 2002 (ACT 612)

    Section - 29 - The banker for Government

    (1) The Bank shall receive, collect, pay and remit money, bullion and securities on behalf of the Government.

    (2) The Bank shall accept custody of all securities, documents and other valuable objects belonging to the Government.

    (3) The Bank may act as banker to any government institution or agency.

    (4) In a place where the Bank does not have a branch, the Bank may appoint a banking institution to act as its agent for the collection and payment of Government moneys.

    (5) An agent which collects money for and on behalf of the Bank under subsection (4) shall, as may be specified, remit the money to the Bank.

    (6) Interest shall not be paid by the Bank on amounts deposited in a government account.

    (7) Except as otherwise determined by agreement with the Minister, the Bank shall not receive from the Government remuneration for its services under this section.

    (8) Subject to this section, the Bank may undertake and transact a business which the Government may entrust to the Bank.