You can’t run from paying loans by discarding SIM – BoG to mobile money loan defaulters

The Bank of Ghana (BoG) has cautioned mobile money loan defaulters that they cannot avoid repayment by discarding their SIM cards because their data have been captured by credit bureaus.
Some persons who have acquired loans through mobile money platforms have deliberately refused to register their SIM cards in the ongoing national SIM card re-registration exercise with the intention of avoiding payment of the acquired loans.
But the central bank, in a statement, has cautioned these defaulters that because their data have been captured in credit bureaus, their failure to repay such loans would affect their chances of obtaining any loan facilities from any financial institution in future.
Borrowers who have discarded their SIM cards have been 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.
Trending Business
Energy expert warns new electricity tariffs could fuel unemployment
08:05Easter: Kwahu Obomeng Queen Mother cautions against price hikes
02:31Basintale blocks renewal of Zoomlion's contract if salary remains GH¢250
13:14MDF forum pushes for mineral revenues to benefit mining communities
09:38MPs assure Zoomlion of gov't's prompt debt settlement
11:24GoldBod begins licensing of gold trading service providers
11:48President Mahama appoints Capt. James Richmond Quayson as the Director of Takoradi Port
13:10Replicate Kwahu Business Forum nationwide- UCC don to Mahama
09:27Better Ghana Alliance rebuts DPPF’s hailing of KGL as Africa’s top lotto company
09:13New policies will hurt mining sector growth - Minority to gov’t
08:27