The Bank of Ghana (BoG) has cautioned mobile money loan defaulters to desist from any attempt to avoid registering their Sim Cards.
The warning is coming barely two days to the deadline for registration of Sim Cards in the country.
A statement issued by the BoG on Wednesday( 28 September ) said failure by such defaulters to pay their loan will have far reaching repercussion on their credit history.
“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,” the statement added.
“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,” the BoG statement said.
Below is the full statement
