Bussiness
July 1 Deadline: You Wil Not Lose Your Account But Your Risk Profile Will Increase – Bank To Customers
Bank customers who fail or are unable to link their GhanaCard to their bank accounts before the July 1 deadline, will not lose the account but will have their risk profile elevated, Deputy Chief Executive Officer of the Ghana Bankers Association, John Awuah has said.
If they fail to link the Card to the accounts, the banks are going to scale up due diligence when such customers attempt to transact business, Mr Awauh stressed.
The Bank of Ghana (BoG) had earlier directed that starting July 1, the GhanaCard shall be the only identification card to undertake transactions at all BoG licensed and regulated financial institutions.
“In furtherance of its objective of ensuring the safety of the financial system, Bank of Ghana pursuant to Regulation 7 of the National Identity Register, 2012 (L.I.2111), hereby directs that with effect from 1st July, 2022, the Ghana Card shall be the only identification card that will be used to undertake transactions at all Bank of Ghana licensed and regulated financial institutions including: i. Banks; ii. Specialised Deposit-Taking Institutions; iii. Non-Deposit-Taking Financial Institutions; iv. Payment Service Providers and Dedicated Electronic Money Issuers; v. Forex Bureaus and Credit Reference Bureaus,” the regulator said.
Speaking in interview with TV3, on Thursday June 30, just a day before the deadline, Mr John Awuah said “If you don’t have it and the deadline comes, yes, your account will not be closed but the risk profile for your account will just be elevated and therefore, there will be extra due diligence that the banks will ask before you can transact.
“This is a situation you don’t want to put yourself into. So for your own convenience and for your own safety, the GhanaCard also provides extra safety in terms of security features. Some banks have sent links to their customers to update their records.”
Meanwhile, the Economic and Organized Crime Office (EOCO) has warned that fraudsters are taking undue advantage of the exercise to link the GhanaCard to bank accounts.
EOCO said these fraudsters send messages to suspecting customers demanding their bank account details, Mobile App PIN and Mobile numbers.
A statement by EOCO on Thursday June 30 said it has taken “notice with great concerns the rate at which some members of the general public have fallen victims to fraudulent banking transactions.
“Fraudsters have taken advantage of the ongoing call on customers of bank to link their accounts to Ghana Card. Regarding the bank fraud, the fraudulent messages are sent to individuals requesting them to click on links in order to update their bank records.
“Customers are therefore asked to provide their bank account names, Mobile numbers, Mobile App PIN , One Time Password. Some daring fraudsters even make phone calls to members of the public to request for the aforementioned information.
“Do not click on any link purporting to be emanating from your bank unless you have confirmed from your bank,” EOCO warned.
Source: 3news
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
