The central bank has directed all financial institutions to only accept Ghana Cards for all transactions.
The Bank of Ghana (BoG) explained that this order takes effect from July 1, 2022.
This is pursuant to Regulation 7 of the National Identity Register, 2012 (L.I. 2111).
“With effect from July 1, 2022, the Ghana Card shall be the only identification card that will be to undertake transactions at all Bank of Ghana licensed and regulated financial
institutions…,” a January 19 statement read.
Mr Prince Obiri Yeboah a financial Analyst in an interview with Bohyeba Afriyie on PlanB FM’s Ebanoosen revealed that the direction from The central bank will be very good one if problems facing the NIA is strategically solved.
He said that the national identification card is one that he is very much happy about but the problem surrounding it is one that scares him as well.
He said that the direction has got its positive but the negatives exceeds them. He listed some of the positives as reduction of money laundering in Ghana. The system will help with easy identification
He also stated some of the negative as NIA is yet to provide the cards for all Ghanaians.
NIA do not have a lot of branches across Ghana Some workers of NIA will now use this as a new way to extort money from Ghanaians in other words it will promote bribery and corruption and It might collapse banks More banking charges.
He concluded that the initiative is a good one but must be built before implemented and it needs a lot of time hence Bank Of Ghana must extend the date.
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