To those mischievous persons who have taken loans using the famous MTN Quickloan but have sworn heaven and earth never to pay, aptly aided by the ongoing SIM reregistration, the Bank of Ghana (BoG) is coming after them.
The central bank has warned those who have borrowed money using mobile money services but have purposefully chosen not to register their SIM cards in order to be able to repay the loan.
MTN Quickloan is a short-term, unsecured, cash loan paid into your MTN Mobile Money wallet. The loan is simple and accessible, with no previous savings required. If you pay your loan on time, every time, then you will continue to have access to a loan whenever you need it.
“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,” a statement by the Bank on Wednesday, September 28 said.
Similarly, Ursula Owusu-Ekuful, the minister of communications and digitalization, had previously forewarned them and called their behaviour “vile corruption.”
Press Release – Mobile Money Loan Defaulters pic.twitter.com/dbY8VqKEPD
— Bank of Ghana (@thebankofghana) September 28, 2022