The Bank of Ghana (BoG) has committed to resolving issues related to illegal fees in mobile money transactions due to increasing consumer complaints about unauthorized charges imposed by certain mobile money service providers.
In a statement, BoG reaffirmed its dedication to protecting consumers’ interests and upholding the integrity of the mobile money system.
BoG highlighted its ongoing scrutiny of mobile money operators to detect and rectify any instances of unauthorized fees.
“To my understanding, if you are doing this for yourself, there are no charges. I think that it is where there are third-party individuals involved that these charges come into play and it is something that we have raised in the past. It is an area that we are looking at because of the issue of financial inclusion. It is very important for all of us,” he said.
The central bank stressed the significance of transparency and accountability within the mobile money sector to uphold consumers’ trust and confidence.