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BoG sanction 47 individuals 245 businesse for persistent issuance of dud cheques

Kumasi Mail by Kumasi Mail
August 6, 2024
in Business
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Bank of Ghana (BoG) has bans 47 individuals and 245 business entities from issuing cheques and accessing new credit facilities for 3 years for consistently issuing dud cheques

The affected bank customers issued dud cheques on at least three occasions between January 2022 and January 2024, despite warnings about the consequences of their actions.

The offenders are accordingly banned from:

a) Issuing cheques in Ghana for three years, effective 28th June 2024. b) Accessing new credit facilities from the banking system for three years with effect from 28th June 2024.

The above sanctions are without to any legal proceedings that may be taken against the offenders under Ghana’s criminal code.

BoG in a statement  directed Banks and Specialised Deposit-Taking Institutions (SDIs) whose customers are involved have been directed to notify the culprits of the ban and recall all unused cheque books from them.

The statement further warned “They shall not issue new cheque books to the affected customers until the sanctions are lifted. The public is by this Notice, cautioned to desist from issuing dud cheques as the offence has both legal and regulatory consequences. Bank of Ghana will continue to monitor the payment system space closely and is committed to the promotion of the integrity and soundness of the financial system’’.

Source: www.kumasimail.com

Tags: 245 businesse47 individualsBoGBoG sanctiondud chequestopstory
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