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Ghana: Press highlights apex bank’s advice to media houses on broadcast of illegal money doubling, others

The advice of the Bank of Ghana to all media outlets not to allow the broadcast of illegal money doubling…

The advice of the Bank of Ghana to all media outlets not to allow the broadcast of illegal money doubling and credit card loading schemes on their platforms and the promise of Mr. John Mahama of the NDC to touch souls, heal wounds and restore truth and dignity to Ghana if elected are some of the leading stories in the Ghanaian press on Thursday.The Graphic reports that the Bank of Ghana has notified all media outlets not to allow the broadcast of illegal money doubling and credit card loading schemes on their platforms.

This the Bank says is because no entity or individual has been licensed to engage in that business in the country.

In a statement, the BoG explained that “Money Doubling”, “Card Loading” and “Credit Card Loading Systems” amount to deposit-taking, under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) and under Section 4 of Act 930 only entities licensed by the Bank may carry out deposit-taking business.

“By this notice, the Bank of Ghana informs the general public that the Bank has not licensed any entities or individuals engaged in “Money Doubling”, Card Loading” and “Credit Card Loading Systems”.

The said individuals and entities in question, commit an offence and will be required to return all funds received,” the BoG statement said.

The newspaper says that the flag bearer of the opposition National Democratic Congress (NDC), Mr. John Dramani Mahama, says the next NDC government will touch souls, heal wounds and restore truth and dignity to Ghana.

Speaking at the launch of the NDC’s 2020 campaign at Sefwi Dwinasi in the Western North Region Wednesday, October 7, 2020, Mr. Mahama said his party was rolling out the most effective retail campaign in this year’s general election.

He says that he is committed to working hard to build a Ghana where people’s hopes and aspirations can be met, and with opportunities created for all Ghanaians, not a few privileged citizens.

Mr. Mahama therefore entreated members and supporters of the NDC to move to every nook and cranny of the country with the message of the NDC as contained in its people’s manifesto.

“I want to assure all the teeming supporters of NDC, our sympathisers, well-wishers and the millions of people waiting to vote for John Mahama and Jane Naana Opoku Agyemang and the NDC that we are winning this election”, he said.

The Graphic also reports that President, Nana Addo Dankwa Akufo-Addo, yesterday launched “For Better Business Together (4BBT)”, a new international partnership to strengthen businesses in the world following the COVID-19 pandemic.

The ultimate goals is to advance the UN Sustainable Development Goals (SDGs), which are aimed at lifting people out of poverty, eliminating inequities and building a sustainable environment, in collaboration with governments, the private sector, development partners and civil society organisations (CSOs).

The programme is expected to inspire business-worthy behaviours in UN member countries, discuss and critically analyse special local issues and serve as a convergence for the youth of the world with innovative ideas to connect with entrepreneurs who have the solutions and investors with SDG perspectives.

The collaborative effort of the Ministry of Business Development, the United Nations Development Programme (UNDP), the International Chamber of Commerce (ICC) and other organisations, the programme has the theme: “Post-COVID-19 — Rebuilding global business together”.

The President said every country had been required to implement various fiscal measures to mitigate the horrendous adverse effects, and that it was time for world leaders to build bridges, foster unity and create business opportunities for citizens and countries.

The Times reports that the government is to consider raising bonds in the nearest future to address the country’s acute housing deficit.

The Minister of Works and Housing, Mr. Samuel Atta-Akyea, who gave the hint, indicated that the move had become necessary as government interventions in the sector had been inadequate to solve the country’s housing problems.

“Sometimes, we believe cocoa is critical to the economy of this country and therefore we are able to raise good money on the bonds market to solve cocoa challenges, but to have a housing deficit which is running over 2 million, there should be bold government intervention to raise money on the stock exchange, if not, our efforts will not go far and we cannot totally trust the private sector to wipe out the deficit,” he stated.

The Minister was speaking at an event in Accra to mark this year’s World Habitat Day, which is celebrated every first Monday in October.

This year’s edition was on the theme “Housing for All: A Better Urban Future”.

The annual event reflects on the state of cities and towns and the basic rights of all to adequate housing.

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