BoG cautions the public against the services of 19 unlicensed loan companies

The Bank of Ghana issued a statement warning Ghanaians not to use the services of 19 unlicensed loan providers whose activities violate the Banks and Specialised Deposit-Taking Institutions Act, 2016.

The central bank said the activities of the 19 institutions amount to the non-adherence of the consumer protection requirements and abuse of customer data and privacy.

The central bank revealed it was taking action against the 19 institutions and has cautioned the public not to do business with them.

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