Bank of Ghana bans 125 Ghanaians from operating current accounts

The Bank of Ghana (BoG) has barred 125 Ghanaians from further operating current accounts in Ghana.

YEN.com.gh understands that the decision was reached after it was realized that the affected persons constantly issue dud cheques.

The BoG has, in that respect released the full list of people who were found to have engaged in such activities.

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In a letter dated November 2, 2018, and signed by the Head of Financial Stability Department of the BoG, Dr Joseph O. France, wrote: “you are directed to debar or cease them from operating current accounts for three years with immediate effect.”

The list showed the names, the type of identity card used to open the account and number of the identity card of the people involved.

The BoG further advised all banks to make arrangements to facilitate the recovery of debts such individuals may owe them.

“We further advise that if they are indebted to your bank, appropriate arrangements should be made with your institution to facilitate recovery,” the letter read.

The letter added that the affected people may however be allowed to operate savings accounts.

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Source: YEN.com.gh