Reliable information reaching Techfocus24 indicates that the African Diaspora Central Bank (ADCB) has asked the Bank of Ghana (BoG) to retract its June 10, 2025 notice cautioning the public against HanyPay and Yellow Card or they (ADCB) will sue the BoG.
In the said BoG public notice, the central bank noted that an unauthorized entity called Yellow Card Financial Inc, through its digital payment platform called YellowPay, is collaborating with another unauthorized entity called HanyPay Ghana, to rollout a supposed currency called AKL Lumi issued by ADCB in Ghana.
BoG said neither Yellow Card nor HanyPay has regulatory approval in Ghana and it does not also recognize ADCB in Ghana.
Following BoG’s public notice, Yellow Card quickly issued a statement and denied any relationship with HanyPay, saying that earlier claims by HanyPay, in February this year, that its AKL Lumi has been integrated into Yellow Card’s YellowPay platform to drive financial inclusion in Africa is false.
Even though HanyPay made that claim way back in February 2025, it was only this month that Yellow Card debunked it and dissociated themselves from it.
Meanwhile, ADCB, which the Bank of Ghana said it does not recognize, is said to be demanding for a retraction of the entire public notice or they will sue.
Their basis for demanded the retraction and threatening to sue is that, neither ADCB nor HanyPay has a relationship with an entity called “YellowPay”, which was not what BoG said. BoG said HanyPay (not ADCB) is collaborating with Yellow Card (not YellowPay) which owns a digital payment platform called YellowPay.
ADCB also claims they had an agreement with Ghana’s Ministry of Finance to collaborate on the full adaptation and interoperability of the “regional tender” AKL LUMI within Ghana, following a meeting between Eco-6 Secretariat (owners of ADCB) and the Office of the President in February last year. Meanwhile, that meeting they refer to was reported in the media as a meeting between a delegation from Vanuatu who met the former President Nana Addo Dankwa Akufo-Addo to talk about trade relations including the adaptation of AKL Lumi in Ghana.
ADCB also noted that Hanypay is a licensed entity (No.29202466604-001-HGL) under the Sixth Region Regulatory Framework. But they did not say that HanyPay has authorization to offer financial services in Ghana.
It then stated that “As issuer of Africa’s first global currency, (AKL) LUMI, we are pleased to re-affirm our regional obligation to advance regional harmonization within a new Diaspora regional partnership framework.”
From the statement ADCB has issued so far on its website, it is difficult to figure out the basis for their demand for a retraction and possible lawsuit if BoG fails to comply, particularly given the fact that Yellow Card has come out and shot down their February 2025 claim of collaborating with Yellow Card to drive AKL Lumi adaptation in Ghana.
Techfocus24 has also asked for a copy of the agreement between ADCB and the Finance Ministry for the adaptation of AKL Lumi in Ghana.
Meanwhile, we are reliably informed that BoG has received no official notice from ADCB nor HanyPay demanding for a retraction of the June 10 public notice.
