July 15, 2024

The Strategic Thinkers Network-Africa (STRANEK) has challenged Bank of Ghana (BoG) to publish detailed list of debtors owing GHS1.2 billion which has been written off as Non-Performing Loans (NPLs) on the books of banks in the country.

According to Nii Tetteh, if there is no corrupt deal involve, BoG should be ableto publish a detailed list of those who took loans and could not pay or have decided not to pay to expose such persons to public scrutiny for such acts to stop.

The Executive Director of STRANEK added it is not enough for BoG to write off such huge debts without putting in place measures to curtail their recurrence.

“All these write-offs lead to higher prices of loans for genuine lenders and affect the general credit environment for persons and entities who may need such facilities for social and economic endeavors”, he laments.

“It is for these reasons we call on Dr. Adison, Governor of Bank of Ghana to unveil the entities and individuals behind these loans and either enhanced or enforced regulations to enable them protect the assets of banks in the country”, he opined.

In a statement sent to The Hawk Newspaper in Accra, STRANEK suggests the BoG works together with ‘credit reference bureaus’ to ensure that persons behind these non-performing loans are barred from taking credit facilities within financial eco-system for at least 5 years as a way of ensuring that the system is rid of errant lenders.

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *