Telcos, BoG To Collaborate To Retrieve Locked Funds On MoMo Accounts - Ursula

The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, has announced that Mobile Network Operators (MNOs) are working with the Bank of Ghana to facilitate the retrieval of funds for individuals whose monies are locked up in mobile money accounts. Numerous subscribers have voiced their concerns regarding the inability to access their funds on mobile money accounts after their SIM cards were deactivated for failing to re-register them.

Providing an update on the status of the SIM re-registration exercise in Parliament on Thursday, June 8, Ursula Owusu-Ekuful assured affected subscribers that while they won’t be able to conduct mobile-related transactions with their deactivated SIMs, their funds will be recovered through the necessary processes.

We continue to encourage the National Identification Authority (NIA) to assist people to acquire their Ghana Card. We have also been made aware of the difficulties facing subscribers in accessing their funds on their mobile money wallets.

These subscribers will not be able to transact money mobile-related activities, however, we are working with the Bank of Ghana to ensure that these subscribers are able to retrieve funds upon the presentation of a valid ID and going through the required processes.