The Bank of Ghana has pulled the plug on Zeepay’s licence to issue electronic money, citing serious concerns over the safety of customer funds.
The central bank announced on Tuesday that the company had been issuing e-money without holding enough actual cash to back it, a regulatory breach that left customers, agents, and merchants exposed to potential losses.
Despite repeated warnings and directives to rectify the shortfall, the BoG said Zeepay failed to take corrective action.
The revocation is effective immediately, and the Bank of Ghana has stepped in to provide support for affected wallet holders.
If you are a Zeepay customer or agent with outstanding concerns, the central bank has set up a dedicated helpline: 0593974486.
The BoG assures the public that support channels are available to resolve any issues arising from the licence withdrawal.
