Be careful of unlicensed deposit taking institutions - BoG to public

The Bank of Ghana (BoG) has cautioned the public against unlicensed deposit taking entities.

The Central Bank in a statement which was issued and signed by Frances Van-Hein Sackey, Bank Secretary, admonished the public not to deal with the unlicensed entities.

The entities including Global Coin Community Help International Limited (G.C.C.H), Wealth Drive Ghana Limited (WDG), Devonshire Place Capital Ghana Limited, TCL Markets Ghana Limited, FX-Crypto Traders and Sonsis Susu Services have not been licensed to carry out activities of taking deposits from depositors, the statement added.

The Bank is therefore warning the public to be careful of deals with these entities as any business done with them would be at the risk of depositors.

The Bank of Ghana said it will not be liable for the refund of any deposit lost by a depositor.