The Bank of Ghana has released a list of some 125 individuals who have been barred by Ghana’s Central Bank, the Bank of Ghana (BOG), from operating bank accounts.
The individuals, according to a report sighted on Adomonline.com by GhanaNewsPage.Com are people the BOG has identified as being guilty of persistently issuing a number of dud cheques to some banks and rural banks in the country.
In a letter dated November 2, 2018, and signed by the Head of Financial Stability Department of the BOG, Dr Joseph O. France, the BOG said: “you are directed to debar or cease them [the 125 individuals] from operating current accounts for three years with immediate effect”.
The BOG further advised all banks to make arrangements to facilitate the recovery of debts such individuals may owe them.
“We further advise that if they are indebted to your bank, appropriate arrangements should be made with your institution to facilitate recovery,” the letter read.
A dud cheque is a cheque that cannot be honoured because the person who wrote it has no money or does not have enough money in their bank account.
“These individuals may, however, be allowed to operate savings accounts,” the BOG letter directed.
Find the full list below: