A total number of 53,522 dud cheques were submitted by banks and SDIs to credit bureaus in 2023.
This represented a 23.0% increase from the 2022 position of 43,457.
The figures were captured in the 2023 Credit Reporting Activity Report.
The Credit Reporting Act, 2007 (Act 726) requires financial institutions to submit to credit reference bureaus, data on dud cheques issued by customers of financial institutions.
The Bank of Ghana said “We continue to observe increasing trend in the issuance of dud cheques resulting in a reduced confidence in the cheque system”.
To curb this menace, the Central Bank said it has intensified its sensitisation of the general public on the ramification for issuance of dud cheques.
As such, customers through sensitisation are informed about the negative implications of dud cheques on their ability to secure new credits. In addition to this, culprits risk the chance of being sanctioned by the Bank of Ghana.
The sanctions involve culprits being barred from accessing credit facilities and issuing cheques for a period of three years.
Latest Stories
-
What’s the point of buying the latest smartphone?
2 hours -
UCL: Monaco stun 10-man Barcelona in opener
3 hours -
UCL: David Raya saves Arsenal in draw against Atalanta
3 hours -
UCL: Wirtz nets brace in Leverkusen win over Feyenoord
3 hours -
Your elevation has brought honour to Asanteman – Kumawu Omanhene tells Napo
3 hours -
Finance Ministry credits IMF programme for economic recovery
3 hours -
Ewura Adwoa Larbi: A thriving oxymoron; Ghana’s faith and her environment
3 hours -
We’ve petitioned IGP over arrest of ‘Fix The Country’ member – Barker-Vormawor
3 hours -
KNUST College of Health Sciences to raise GH₵150m from newly created endowment fund
3 hours -
Cocoa farmers advocate enhanced value addition
3 hours -
There’s no need for a forensic audit of provisional voter’s register – NPP insists
3 hours -
The manipulation of the voter’s register stands to benefit the NPP – Sammy Gyamfi
4 hours -
Voter’s Register: NDC has a reputation for making baseless allegations without evidence – NPP
4 hours -
Trust Mother and Child Hospital Celebrates 10th anniversary
4 hours -
Illegal miners threatening fisher folks on Black Volta with weapons – Inland Fishermen President
4 hours