- BoG shuts down Dek-Nock Investments for operating without license.
- Closure due to unauthorized deposit-taking activities.
- Police investigating, customers urged to remain calm.
- BoG vows to clamp down on illegal deposit-taking operations.
The Bank of Ghana (BoG) has collaborated with the Ghana Police Service to shut down Dek-Nock Investments, a company operating in Nungua and Ashaiman in the Greater Accra Region. The closure is due to the company’s unauthorized operations, specifically engaging in deposit-taking without a license.
According to a statement released by the BoG, Dek-Nock Investments was in violation of Section 20(2)(g) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930). This section explicitly prohibits any entity from engaging in deposit-taking activities without the necessary license.
The BoG’s statement revealed that Dek-Nock Investments was accepting deposits from the public, contravening Section 6(1) of Act 930. This unauthorized activity led to the closure of the company’s operations in Nungua and Ashaiman.
The Ghana Police Service has launched an investigation into Dek-Nock Investments’ activities, and customers have been advised to remain calm during this time. The BoG assured that the general public and stakeholders will be kept informed about any developments in the case.
The BoG emphasized its commitment to clamping down on illegal deposit-taking operations, stating that it will continue to collaborate with law enforcement agencies to ensure that offenders are dealt with in accordance with the law.
Dek-Nock Investments’ customers have been reassured that their interests will be protected, and they will be updated on the next steps to take. The BoG urged customers to remain calm and cooperative during the investigation.
The closure of Dek-Nock Investments serves as a warning to other entities engaging in unauthorized deposit-taking activities. The BoG will continue to monitor and enforce compliance with banking regulations to protect the public’s interest.
The Ghana Police Service’s investigation into Dek-Nock Investments is ongoing, and further updates will be provided as more information becomes available. The public is encouraged to report any suspicious activities or unauthorized deposit-taking operations to the authorities.
The BoG’s swift action against Dek-Nock Investments demonstrates its commitment to maintaining the stability and integrity of Ghana’s financial system. The collaboration with law enforcement agencies ensures that offenders are held accountable, and the public’s interest is protected.
The BoG’s proactive approach to regulating deposit-taking activities serves as a deterrent to other entities considering engaging in unauthorized operations. The public is assured that the BoG will continue to work tirelessly to ensure the safety and soundness of Ghana’s financial system.
