Bank of Ghana warns against investing in SIDICOIN

Bank of Ghana
Bank of Ghana

The Bank of Ghana (BoG) is warning the general public on a Cryptocurrency Investment scheme called ‘SIDICOIN’.

Previously, the Bank of Ghana issued a notice that, such schemes are not regulated under their auspices hence, the public shouldn’t transact any business with them because, they haven’t been approved to operate per any law in Ghana.

In a notice dated 27th April, 2022, the Bank of Ghana is serving another caution to the general public about a cryptocurrency scheme called ‘SIDICOIN’.

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The bank is advising the general public to exercise caution with regards to trading in cryptocurrencies and either unregulated investment schemes.

Further, the Bank cautions all regulated institutions including banks, specialized deposit-taking institutions, dedicated electronic money issuers and payment service providers to desist from facilitating cryptocurrency transactions and unlicensed investment schemes, through their platforms or agent outlets.

For further enquiry, the Bank of Ghana gave the following contacts to reach:

Financial Stability Department, Bank of Ghana on Tel.: 0302665005

WhatsApp through 0596912354 / 0501502270

E-mail: complaints.office@bog.gov.gh

SOURCE: Coverghana.com.gh

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