Banks to use armoured bullion vans from Bank of Ghana

fthghana
fthghana July 6, 2021
Updated 2021/07/06 at 3:19 PM
Banks to use armoured bullion vans from Bank of Ghana, FTHGhana.net

The Police Administration rescinded threats to withdraw police escorts on bullion vans used for carting money by banks if the financial institutions fail to provide armoured vehicles for that purpose.

This comes following a new arrangement between the Banks, Bank of Ghana and Ghana Police Service. With the new arrangement, banks will use a pool of fortified armoured bullion vans, which will be provided by the Bank of Ghana.

The police, according to the Director-General of the Criminal Investigation Department of the Ghana Police Service, Mr Isaac Ken Yeboah, also announced to  journalists in Accra, they would ensure personnel on duty on such bullion vans were well protected and more than one police personnel put on duty on such vehicles.

The comes in the wake of incessant robbery attacks on bullion vans in the country.

A number of police officers on these special duties have repeatedly complained about the unavailability of bulletproof vests and sophisticated weapons to protect them on these assignments, aside from the sub-standard bullion vans.

Following a robbery on a bullion van at Adedenpo, a suburb of James Town in Accra on Monday, June 14, 2021, the IGP said he would stop his officers from providing protection for bullion vans if the banks failed to use fortified armoured vehicles by the end of June this year.

The attack led to the killing of a police officer and a trader.

Mr Yeboah said ahead of the deadline of the IGP’s threat, the regulator of the banks had indicated that the time frame given to the banks to acquire the fortified vans was short.

He said the regulator of the banks had, therefore, requested that a temporary measure was put in place while the banks made plans to adhere to the directives of the police administration.

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