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
-
Cocoa farmers advocate enhanced value addition
10 mins -
There’s no need for a forensic audit of provisional voter’s register – NPP insists
14 mins -
The manipulation of the voter’s register stands to benefit the NPP – Sammy Gyamfi
22 mins -
Voter’s Register: NDC has a reputation for making baseless allegations without evidence – NPP
43 mins -
Trust Mother and Child Hospital Celebrates 10th anniversary
1 hour -
Illegal miners threatening fisher folks on Black Volta with weapons – Inland Fishermen President
1 hour -
Why is EC afraid of a forensic audit? – Nyaho -Tamakloe asks
1 hour -
Ghanaian girl’s dream ‘baecation’ to Singapore ends with missing kidney
2 hours -
Public vs. Private healthcare in Ghana: Analysing references and impact on health delivery
2 hours -
ITF Junior: 2 Ghanaian wheelchair tennis players set to compete in tournament
2 hours -
Sissala East: Classroom shed collapses on pupils at Sumborun, causing head injury
2 hours -
Mahama promises to reinstate automatic recruitment of nurses
2 hours -
Bernard Kwakye: A closer look at Ghana’s education initiatives: Opportunities and concerns
2 hours -
University administrators resume strike, hospitals and other essential service to be impacted
2 hours -
First Lady mouns Herman Chinery-Hesse; signs book of condolence
2 hours