The Bank of Ghana (Bog) has sent a strong warning to Ghanaians who take loans from Qwikloan and XpressLoan and refuse to pay.
According to the central bank, Qwikloan and XpressLoan customers who have taken loan and failed to pay will attract negative repercussions.
In a statement, the apex bank said data on all mobile money loan customers are available in the database of credit bureaus.
It stated that some owing persons have decided to discard their SIM cards.
« As a result failure to repay such loans will attract negative repercussions on borrowers’ credit reports and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in future, » the statement added.
Earlier, Communications Minister Ursula Owusu-Ekuful warned people who do owe Qwikloan do not want to have their SIM cards registered to avoid settling their loans.
She described the act of the loan defaulters as evil corruption.
Pulse
