What will happen when You are a Mobile money defaulter and You Discards Your Sim

What will happen when You are a Mobile money defaulter and You Discards Your Sim.

Since the NCA is ready to block all unregisterred Sim Cards on 30th September, 2022. Mobile money defaulters seem a little happy as a blocked sim can’t contain Loans. Some have intentionally thrown their SIM Cards Away to avoid Repayment.

Here is a press Release by the Bank of Ghana

Read Also; What Happens To Your Mobile Money When Your SIM Is Blocked? A call to 100 Reveals

PRESS RELEASE

MOBILE MONEY LOAN DEFAULTERS

The attention of Bank of Ghana has been drawn to some individuals who have acquired loans through mobile money platforms, but have deliberately refused to register their SIM cards under the on-going national SIM Card registration exercise, with the intention of avoiding repayment of the acquired loans.

Bank of Ghana wishes to inform the general public that data on all mobile money loan customers are domiciled in the databases of credit bureaus.

As a result, failure to repay such loans will attract negative repercussions on borrowers’ credit reports/history and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in future.

Borrowers who have discarded their SIM Cards are advised to contact their telecommunication service providers or respective lenders, to discuss repayment arrangements to avoid adverse information on their credit reports, that could deny them access to future credit facilities.

Read Also; All outgoing Calls to be Re-routed to Interactive Voice Recording. What Happens to Sims with Loans on them

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