President John Dramani Mahama has asked the general public—particularly investors and depositors—to be wary of outrageous financial packages on the market.
Addressing a media session at the Flagstaff House in Accra, he said most of the products which promises high interests on deposits are “enticements” to lure and dupe unsuspecting customers.
“If somebody is offering you an interest rate that is higher than the T-bill rate, take a step back and look at it well; that person may be ‘fooling you’ and only trying to dupe you,” he indicated.
The president’s comment comes on the back of a raging situation in the Brong Ahafo Region where unsuspecting customers of fun clubs and a microfinance company have been left in a fix as their monies remains locked up in deposits.