{"id":290482,"date":"2017-02-02T06:00:42","date_gmt":"2017-02-02T06:00:42","guid":{"rendered":"http:\/\/citifmonline.com\/?p=290482"},"modified":"2017-02-02T06:00:42","modified_gmt":"2017-02-02T06:00:42","slug":"bog-pins-down-illegal-microfinance-company-in-sunyani","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/02\/bog-pins-down-illegal-microfinance-company-in-sunyani\/","title":{"rendered":"BoG pins down illegal microfinance company in Sunyani"},"content":{"rendered":"<p>The Bank of Ghana has cautioned the public against investing with an unlicensed microfinance company; Agro Development Fund Services Limited.<\/p>\n<p>[contextly_sidebar id=&#8221;b18bJoefnoaEytpBbsVF5rIPrqbsaK0x&#8221;]The company is reported to be operating from its office located at A67\/3, Asufufu, opposite the Sunyani Traditional Council, Sunyani.<\/p>\n<p>A statement from the central bank and signed by its Secretary, Caroline Otoo said the company is \u201ccarrying on the business of microfinance without a licence from the Bank of Ghana.\u201d<\/p>\n<p>The statement added that \u201canyone who does business with Agro Development Fund Services Limited, does so at their own risk.\u201d<\/p>\n<p>The caution follows the recent debacle involving DKM Microfinance Company which was also based largely in the Brong Ahafo region.<\/p>\n<p>Affected customers are still being paid their locked up investments which are estimated to be running into millions of cedis.<\/p>\n<p>The unfortunate development follows the halt of the company\u2019s operations in 2015 for flouting some rules guiding legal operations in the financial sector.<\/p>\n<p>&#8211;<\/p>\n<p>By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana has cautioned the public against investing with an unlicensed microfinance company; Agro Development Fund Services Limited. [contextly_sidebar id=&#8221;b18bJoefnoaEytpBbsVF5rIPrqbsaK0x&#8221;]The company is reported to be operating from its office located at A67\/3, Asufufu, opposite the Sunyani Traditional Council, Sunyani. A statement from the central bank and signed by its Secretary, Caroline Otoo said [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,11],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BoG pins down illegal microfinance company in Sunyani - Citi 97.3 FM - Relevant Radio. 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