The Bank of Ghana has issued a strong warning to Mobile Money defaulters regarding the repayment of their loans. According to the top bank, individuals who have, for whatever reason, chosen not to settle their loans that they took will be brought before a court.
In a statement released on September 27, 2022, and signed by The Secretary, the Bank of Ghana hinted that some loan defaulters had thought about it and refused to re-register their SIM Cards in an effort to avoid paying back the loans they had taken.
Failure to repay these loans will have an adverse effect on the borrower’s ability to obtain loan facilities from other financial institutions and credit providers in the future and will have a negative impact on their credit reports.
The Full Statement is Below…