Some individuals think they can outsmart the system by taking loans from their mobile operators and refuse to pay just because of the ongoing sim card re-registration but the Bank of Ghana (BOG) thinks the opposite.
In a statement released on Wednesday morning, September 28ty, to the public via it’s social media handles, the central bank of Ghana has issued words of warning to individuals to repay.
According to them, some people acquired loans via mobile money platforms, but purposefully chose not to register their SIM cards in order to be able to pay back the loan.
The statement makes it clear that the data of all loan takers are available in the data base of credit bureaus. Which means their refusals to repay might block them access to acquiring loans from other serves (platforms) be it banks etc.
BOG’s warning to the defaulter is that they pay or face the consequence. They also advised individuals who have after receiving and using their loans stopped using their sim cards to contact the financial institutions (operators) to discuss repayment arrangements.
The SANDRA THOMPSON (MS.) Who is the THE SECRETARY of Bank Of Ghana signed statement reads in full below.
“The attention of Bank of Ghana has been drawn to some individuals who have acquired loans through mobile money platforms, but have deliberately refused to register their SIM cards under the on-going national SIM Card registration exercise, with the intention of avoiding repayment of the acquired loans.
“Bank of Ghana wishes to inform the general public that data on all mobile money loan customers are domiciled in the databases of credit bureaus. As a result, failure to repay such loans will attract negative repercussions on borrowers’ credit reports/history and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in future.
“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.”
Press Release – Mobile Money Loan Defaulters pic.twitter.com/dbY8VqKEPD
— Bank of Ghana (@thebankofghana) September 28, 2022