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Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula

Ursula Owusu-Ekuful

The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, has provided an update on the issue of individuals who are unable to access their funds in mobile money accounts due to SIM card deactivation. She announced that Mobile Network Operators (MNOs) are collaborating with the Bank of Ghana to facilitate the retrieval of funds for affected individuals.

Many subscribers have expressed concerns about their inability to access funds in their mobile money accounts after their SIM cards were deactivated for failing to re-register them. Addressing the issue in Parliament on Thursday, June 8, Ursula Owusu-Ekuful assured the affected subscribers that although they cannot perform mobile-related transactions with their deactivated SIMs, their funds will be recovered through appropriate procedures.

The minister emphasized the importance of acquiring the Ghana Card from the National Identification Authority (NIA) and encouraged people to take advantage of its benefits. She acknowledged the difficulties faced by subscribers in accessing their funds and assured them that efforts are underway to resolve the issue.

To address the situation, the Ministry of Communications and the Bank of Ghana are working together to establish a process that allows affected subscribers to retrieve their funds. This will require presenting a valid identification document and following the necessary procedures. The collaboration aims to ensure that individuals who have encountered difficulties with their mobile money wallets can regain access to their funds and carry out the retrieval smoothly.

By actively engaging with the Bank of Ghana, the Ministry of Communications seeks to provide a solution that eases the concerns of affected subscribers. The initiative acknowledges the importance of safeguarding individuals’ financial assets and aims to facilitate the recovery of funds while also emphasizing the significance of acquiring a valid identification document, such as the Ghana Card.

Through these efforts, the government aims to address the challenges faced by subscribers and enable them to retrieve their funds securely. The collaboration between Mobile Network Operators and the Bank of Ghana reflects the commitment to finding a resolution and ensuring that affected individuals can regain control of their mobile money accounts.

Source – citinewsroom.com

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