A customer of Absa Bank, formerly Barclays Bank, Mr. Sylvester Oppong has petitioned the Bank of Ghana to investigate activities of ABSA Bank which he finds doubtful regarding a loan he acquired in 2018 which the bank is still deducting suspiciously and mysteriously.
According to Mr. Oppong, he has already completed the payment of a loan of ghc17, 000 cedis he applied in 2018 but the bank insist he hasn’t finished paying and continue to deduct until mid-2026.
In his petition to the Bank of Ghana, Sylvester Oppong indicated that the last time he took a loan from the Absa Bank was in 2018. Which was a sum of GHC17, 000 Ghana cedis.
“For the past three and a half years, a total of GH₵79,000 has been unlawfully deducted from my salary by Absa Bank through the Controller and Accountant General’s Department. Each month, an amount of GH₵490.90 is deducted before my pay is credited into my account, stated.
“This loan, which is being repaid on my behalf through monthly deductions, is completely unknown to me. Despite my repeated attempts to resolve this matter by directly contacting Absa Bank’s management in Techiman, Kumasi, Accra, and several other branches, the issue remains unresolved. I have been assured multiple times that the matter will be investigated, but no action has been taken, and the deductions continue without justification”.
“I find this situation not only deeply concerning but also detrimental to my financial well-being. These deductions are being made without any form of contract, authorization, or benefit to me. It is clear that I have been wrongfully burdened by a loan that I did not take, and I believe that this may be a case of fraud or serious administrative negligence”.
“In light of the above, I respectfully request the following actions to be taken immediately:
- Immediate Investigation: I request that the Bank of Ghana conduct a thorough investigation into the unauthorized loan deductions from my salary. This should include a detailed inquiry into the origin of the loan, the parties responsible for initiating the loan, and the parties benefiting from the deductions.
- Suspension of Deductions: I request that all further deductions from my salary be immediately suspended until the investigation is concluded and the source of the wrongful loan and deductions is determined.
- Refund of Deductions: I request that the total amount of GH₵79,000, which has been deducted from my salary over the past three and a half years, be fully refunded to me, along with any accrued interest, as I have not benefited from any loan or financial product from Absa Bank.
- Accountability: I urge the Bank of Ghana to ensure that those responsible for imposing this wrongful loan on me are identified and held accountable for their actions. If this issue is a result of fraudulent activity, I request that legal action be taken against those responsible.
- Public Communication: I also request that both Absa Bank and the Bank of Ghana provide me with an official statement explaining the nature of this situation, as well as any corrective measures that will be implemented to prevent such occurrences in the future.
I trust that the relevant authorities will treat this matter with the seriousness and urgency it deserves. This situation has caused me significant emotional and financial distress, and I am hopeful that with your intervention, a swift resolution will be reached”.
When Contacted, a loan officer at Absa bank explained that when Mr. Sylvester Oppong applied for the loan of ghc17, 800 in 2018 he was already paying for an existing loan of Ghc 10,250 cedis which was acquired in the same year of 2018. As part of the process, part of the new loan was used to pay for the existing loan and the remaining amount was given to him. He described this process as loan refinancing, which is allowed in banking. So much by regulation is at the time that our application got to the employer, the employer looked at how much he was earning and how much by regulation he could pay for anything at all and what it was established the employer said no he couldn’t pay the 632 we wanted to deduct. And slashed that by half. So we started deducting from that amount. 387, so immediately this happed the loan tenure shot up to 144 months. By no fault of his or that of the bank. It was the design of the structure at the controller, and even with that the deductions seized from the controller and accountant general after 7 months and resumed after five months when we reported. When payment resumed it resumed with ghc475.87. Then at a point it came to ghc490. And that is what is being deducted. So he is left with Ghc 7,979.79 Ghana cedis and if you divide that he would need about 16 months to finish paying. That about a year and a half.