Selorm Adadevoh, the chief executive officer of MTN Ghana, has guaranteed that mobile money (momo) accounts will not be lost by subscribers who lose their phone numbers for failing to re-register their SIM cards.
He stated that these subscribers will subsequently receive instructions on how to access their funds.
The SIM card re-registration process will conclude today, May 31, 2023.
Mr. Adadevoh told Joy Business that consumers who have money on their deactivated SIM cards will eventually be able to retrieve their assets.
He explained that these accounts will be declared inactive, but consumers will always have access to their funds with the necessary identification card.
We do have a provision in the Payment System and Services Act regarding how to handle funds that have not been accessed; they are essentially regarded as dormant funds and can be redeemed at a later date with the proper identification and procedures. He emphasized.
Some mobile phone subscribers who have not yet registered their SIM cards are requesting information from the National Communications Authority (NCA) and the Ministry of Communications about what will happen to their mobile money wallets containing cash if they are unable to re-register their SIM cards by the end of the day on May 31, 2023, and therefore lose their phone numbers permanently.
Despite the fact that the NCA has not yet provided details on what transpires, some subscribers have stated that the money will be secure as long as there is evidence of funds in momo accounts.
Multiple deadline extensions were granted
The registration period for SIM cards was extended multiple times by the Ministry of Communications in response to requests from subscribers who have yet to receive their Ghana SIM cards. After the postponement, the majority of telecommunications companies complained of logistical difficulties, citing the expense of the exercise.
After deadline
The ministry has warned that the re-registration deadline for SIM cards will not be extended further. After the deadline, subscribers whose SIM cards have not been re-registered will be unable to make or receive calls or text messages. Telcos are compelled to prevent these lines from gaining access to any service.