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
Ghana’s development hinges on political-business collaboration – Seidu Agongo
19:47Agongo urges business leaders to mentor 300 youngsters each for Ghana’s future
21:40Jospong Group partner with Austria to boost waste-to-energy and skills training
16:49Bank loans: 35% interest rate senseless – Agongo says Heritage Bank would’ve charged 20% to force low rates
13:23‘Ofori-Atta promised to do his best to protect my bank but still collapsed it’ – Agongo
10:53‘Vindictive,’ ‘backward-minded’ Akufo-Addo gov’t didn’t think the name ‘Agongo’ deserved owning a bank or prospering
10:31PMMC transforms into GoldBod following passage of GoldBod Bill
16:30Remittances, gold prog. anchor cedi against dollar – BoG
05:13Ghana’s trade surplus meets IMF reserves expectation with US$6.9bn for 3 months
05:09BoG: Gold crosses $3,000/ounce price, oil jumps 2.4%, cocoa tumbles 8.5%
05:07