The Bank of Ghana has called on the public to disregard some malicious messages circulating on social media platforms such as WhatsApp and Facebook.
According to a press release from the Central Bank, the messages create the false impression that an intended “clean up” of Rural and Community Banks (RCBs) sub-sector by the Bank of Ghana would negatively affect depositors fund with RCBs, urging them to move their funds to other institutions.
But in a response the BoG stated that for the avoidance of doubt, the clean-up exercise is only directed at insolvent and illiquid financial institutions which are not able to meet depositor withdrawals.
“The exercise is to enable depositors have access to their funds. The Bank of Ghana would want to encourage the general public and customers to continue to do business with Rural and Community Banks that are solvent, liquid and strong.” The Bank of Ghana statement added.