BoG Cautions Public Against Unlicensed Deposit-Taking Entities

Dr. Ernest Addison, Governor of BoG

The Bank of Ghana has cautioned the public from doing business unlicensed deposit taking entities.

The Central Bank in a statement issued Thursday, November 8, 2018 stated that 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 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.