The President of the Ghana Bullion Operators Association (GBOA), Alhaji Iddi Sumaila, has announced that banks in Ghana are anticipated to start using armored bullion vans for cash transportation starting next month July 1. However, he discloses that some banks are still finalizing the agreement with the GBOA regarding this matter.


“To enhance the safety of cash transportation, Ghanaian banks will receive armored bullion vans. However, there are still pending agreements with several other banks which they are yet to finalize finalized.”

He went on to say, “We can boldly say that we have about 150 armored bullion vans within the nation. Most banks have signed contracts with us for their deployment. The process for banks to obtain them involves a series of steps that require time.”

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It is worth noting that in 2021, the BoG issued a directive mandating all financial institutions to acquire sophisticated vans for protection. Failure to comply would result in the Bank of Ghana refusing entry to any substandard or vulnerable Cash in Transit (CIT) vehicles on its premises nationwide.

Nevertheless, this timeframe was prolonged until July 1, 2023, shortly after the occurrence of the James Town robbery incident, which implicated an armored bullion van and resulted in the unfortunate demise of a police officer, as well as an innocent bystander being hit by a stray bullet.

The series of robbery attacks on officers accompanying inadequate vehicles during cash transfers compelled the Inspector General of Police to issue warnings against escorting any vehicle lacking the necessary protection for police officers.

Regarding the attacks in Ablekuma, the police issued a strong caution to the perpetrators responsible for the officer’s killing. The officer was shot multiple times at close range while positioned in front of a bullion van assigned to security duties.

Subsequent to a robbery at the Star Oil Filling Station in Ablekuma Fan Milk, a suburb of Accra, an unfortunate incident unfolded. The robbers, a group of four, reportedly trailed the bullion van as it went to refuel at the fuel station, where the shootout took place.

“The police are currently conducting a manhunt to apprehend a gang of four robbers who attacked an armored bullion van in Ablekuma Fanmilk, a suburb of Accra, and fatally shot the police officer who was part of the escort team,” stated the police in an official statement.

This initiative is therefore helpful to protecting the lives of law enforcement who escort these bullion vans and the monies of the banks as well. will therefore follow the story closely and update you soon.