BoG, Police Shutdown Dek-Nock Investments Offices For Alleged Unauthorised Deposit-Taking
- The Bank of Ghana, with the help of the Ghana Police Service, has shut down two offices of Dek-Nock Investments
- Dek-Nock Investments is allegedly involved in unauthorised deposit-taking in contravention of Section 6(1) of Act 930
- The BoG has assured Ghanaians it will continue to clamp down on illegal financial activities in the country
The Ghana Police Service, in conjunction with the Bank of Ghana (BoG), has shut down two offices of Dek-Nock Investments today, Friday, July 19, 2024.
The offices were in Nungua and Ashaiman, in the Greater Accra Region.
Source: Getty Images
The shutdown was conducted in accordance with Section 20(2)(g) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
The Bank of Ghana, in a statement announcing the shutdown, stated that Dek-Nock Investments had been illegally taking deposits from customers in contravention of Section 6(1) of Act 930.
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It said that the Ghana Police Service has initiated further investigations into the operations of Dek-Nock Investments.
BoG urges calm among Dek-Nock clients
Meanwhile, the Bank of Ghana has urged Dek-Nock Investments customers to remain calm as the police investigate the matter.
The apex bank noted that it would inform customers of further actions at the appropriate time.
The central bank assured the general public that it will continue to crack down on illegal deposit-taking operations in collaboration with the respective law enforcement agencies.
It added that offenders would be dealt with accordingly.
“The Bank assures the general public of its commitment to promoting the integrity and stability of the financial system,” it concluded.
BoG blacklists eight MTOs
The Bank of Ghana has also released a list of eight Money Transfer Organisations (MTOs) Ghanaians should avoid.
In a statement, the BoG said these platforms operating within the remittance and Ghana forex market were not approved.
The organisations listed are LEMFI, WISE, TRANSFER GO, XOOM-A PAYPAL SERVICE, SENDWALU, BOSS REVOLUTION, BTC-AZA FINANCE, and SUPERSONIC.
The BoG also warned banks against dealing with any of the blacklisted institutions.
"Non-compliance will result in severe sanctions, including the withdrawal of the institution's license in breach," it warned.
Accept one and five pesewa coins - BoG
YEN.com.gh also reported that the Bank of Ghana has declared the one and five pesewa coins legal tender and must not be rejected.
The Head of Currency Management at the Central Bank, Dominic Owusu, argued that both coins could be used in transactions.
At a media engagement organised as part of the Ghana Month Celebration, he confirmed that the coins fall within the change class.
Proofread by Bruce Douglas, senior copy editor at YEN.com.gh
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Source: YEN.com.gh
