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The Bank of Ghana has reminded all Mobile Network Subscribers, particularly users of Mobile Money services that it has access to all their account details that are “domiciled in the databases of credit bureaus”. The Central Bank has therefore advised individuals who have acquired loans through mobile money platforms to approach their service providers or lenders for repayment arrangements to avoid dire consequences on their creditworthiness or face any punitive action.
In a Press Release issued on Wednesday, September 28, by the Financial Stability Department of the Bank of Ghana, it cautions individuals who have deliberately refused to reregister their SIM cards in the ongoing national exercise in order to escape repayment of their loans to desist from such actions in their own interest. The Central Bank insists that “borrowers who have discarded their SIM cards are advised to contact their telecommunication service providers or respective lenders, to discuss repayment arrangements to avoid adverse information on their credit reports, that could deny them access to future credit facilities”.
Below is the full Press Release