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MTN Qwikloan Is Not Free, If You Are Owing Go And Pay- Bank Of Ghana Warns

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Bank Of Ghana has advised all those owing mobile money loans to settle their debts as fast as they can because their future can be affected badly. According to Bank Of Ghana, most people have decided to take advantage of the system and do not pay after taking the loan. Some people either deactivate their SIMs, chew them or intentionally throw them away in order to run away with the money.

As a result telcos are in debt of millions of cedis. It is not yet clear how much the telecos are owed but sources say it is in millions of Ghana cedis. For your own good, BOG will encourage all Ghanaians owing mobile money loans to do well and pay because these records will be used in future.

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They added that quick loan as most people call it is not a free loan but bussiness run by these telcos. It is therefore not a Non Governmental Organization, it was set up to help suffering Ghanaians and extend businesses.

Paying after borrowing is the best option for all borrowers. The bank said most people were of the view that they could get away with the mobile money loan by discarding their SIM card after taking the loans.

However, the Head of Credit Reporting Unit of BoG, Godfred Cudjoe, said all those owing mobile money loans had their details with the Credit Reference Bureau ” and this could affect you in the future when you badly need a loan. ”

Have you borrowed some before? Are you still owing and finding it difficult to settle your qwikloan? Bank of Ghana would like to use this opportunity to advice you to settle it fast before it turns to a problem in future. If you are also planning to borrow and throw your SIM away you are advised.

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Frank Oteng known professionally as Ghlagatin is a Ghanaian celebrity blogger, freelance journalist, and reporter.He is the founder of Ghlagatin.net, an entertainment website. He graduated from Accra Technical University, ATU with a National High Diploma in Interior Design.

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