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Banking In Ghana BoG warns against doing business with unlicensed Oboanipa Ventures

The Central Bank said that the company has not been licensed for the business it is operating.

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The Bank of Ghana (BoG) has cautioned the general public against doing business with a financial institution called Oboanipa Ventures Limited.

The Central Bank said that the company has not been licensed for the business it is operating.

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According to the Central Bank, the entity is operating a deposit-taking business without the requisite licence from them.

"The above-mentioned entity is operating contrary to section 6 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).”

"The general public is informed that Oboanipa Ventures Limited has not been licensed by the Bank of Ghana to engage in any form of deposit-taking business," BoG said in a release Monday. It is, therefore, warning that anyone who does business with Oboanipa Ventures Limited does so at their own risk.”

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This is not the first time the BoG is warning against doing business with unlicensed financial institutions.

Earlier in the year, the BoG warned the general public against transacting business with Menzgold Ghana Limited because they were also not licensed to take financial deposits like traditional banks do.

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