The African Diaspora Central Bank has demanded the Bank of Ghana retract its 10 June warning about unauthorized digital currency operations, threatening legal action if the central bank refuses. The dispute centers on conflicting claims about the AKL Lumi cryptocurrency and its purported ties to payment platforms HanyPay and Yellow Card in Ghana.

Bank of Ghana’s original notice cautioned against activities by Yellow Card Financial Inc and HanyPay Ghana regarding the unapproved AKL Lumi currency. The central bank stated it neither authorizes these entities nor recognizes ADCB’s operations in Ghana. Yellow Card subsequently denied any partnership with HanyPay, despite HanyPay’s February claims of collaboration.

ADCB contends the notice contained inaccuracies about corporate relationships and cites a purported agreement with Ghana’s Finance Ministry regarding AKL Lumi adoption. The diaspora bank references a 2024 meeting with former President Akufo-Addo that was initially reported as discussing trade relations with Vanuatu. ADCB also claims HanyPay holds licensing under its “Sixth Region Regulatory Framework” but provides no evidence of Ghanaian regulatory approval.

Bank of Ghana officials confirm no formal retraction request has been received. The confrontation highlights growing regulatory challenges as cross-border digital currency initiatives seek African market access. Financial analysts note the incident underscores the complex jurisdictional issues emerging at the intersection of national banking regulation and diaspora-focused fintech ventures.