The Bank of Ghana (BoG) says it has not issued any licence to the US Money Lending Company, which is currently operating as a money-lending institution in Accra.
As a result, the bank said the operations of the company were fake and further called on the general public to be cautious in their dealings with it.
A statement from the BoG, which regulates the financial sector, said �a company operating under the name and style of US Money Lending Company Limited, a subsidiary of US Group of Companies, has been taking deposits and lending same to the general public contrary to the Non-Bank Financial Institutions Act, 2008 (Act 722), and the Rules and Guidelines for Tier 3 Microfinance institutions.�
It thus cautioned the general public against dealing with the company.
Source: Daily Graphic
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |