BOG orders three investment companies to cease operations

The Bank of Ghana (BoG) has directed three investment companies to cease operations with immediate effect.

The three; CB Net Marketing Concepts, E Finance and more as well as Diamond Investment Limited are to also refund all monies collected from their clients failure of which will lead to their arrest.

According to the central bank, the three companies were engaged in unauthorized and illegal deposits taken from the general public without licensing by the bank as required under the banking act as well as the non bank financial institution act.

Meanwhile, the BoG has warned the general public to be circumspect in its dealings with the three companies or any other with similar operations.