BoG, Ghana Police to crack down on illegal investment firms after shutting down Dek-Nock

The Bank of Ghana (BoG) has closed down investment firm Dek-Nock Investments for carrying out unauthorized deposit-taking activities.

In a statement released July 19, the BoG said it had collaborated with the Ghana Police Service to shut down Dek-Nock's offices in Nungua and Ashaiman in the Greater Accra Region.

According to the statement, Dek-Nock was found to violate Section 6(1) of the Banks and Specialised Deposit-taking Institutions Act, which prohibits unlicensed deposit-taking.

The statement said: "Dek-Nock Investments was engaged in unauthorised deposit-taking contrary to Section 6(1) of Act 930."

The police are now conducting investigations into Dek-Nock's operations.

BoG assured the general public that it remains committed to promoting stability and integrity in Ghana's financial system.

As part of this, the central bank said it will continue cracking down on illegal deposit-taking schemes.

"In collaboration with the respective Law Enforcement Agencies, the Bank of Ghana will continue to clamp down on illegal deposit-taking operations and all offenders shall be dealt with in accordance with the law," the statement stressed.

BoG urged customers of Dek-Nock to stay calm as investigations proceed.

It said further updates on actions taken against the firm's managers would be provided to stakeholders.