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 under the ongoing national SIM card registration exercise to avoid repayment of the acquired loans.
But the Central bank in a statement has cautioned these defaulters that because their data has 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 the 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.
the Central Bank stressed in a statement on Wednesday.
Bainamultimedia
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