Ghanaians, particularly traders and business owners, have been encouraged to avoid keeping large sums of money at home and instead deposit their earnings with financial institutions for safekeeping.
The Adwumfourhene of Otumfuo, Nana Opoku Dwobeng II, said keeping money in banks is safer than storing it at home, where it can easily be lost through theft, fire outbreaks or natural disasters.
He cited the recent floods that affected parts of Accra and the Central Region, explaining that some victims lost cash they had kept in their homes.
“During the recent floods in Accra and the Central Region, we saw how people lost everything, including money they had kept in their homes. This should be a lesson to all of us. Banks are safer, and they also help in growing the economy,” Nana Dwobeng II observed.
He made the remarks at the commissioning of the Adum branch of Asokore Mampong Community Bank PLC in Kumasi.
The traditional leader noted that beyond providing security for funds, banking also promotes accountability and gives businesses access to loans and other financial services to support growth.
He urged traders and entrepreneurs across the country to develop the habit of saving with banks and using reliable digital financial platforms to protect their livelihoods.
Nana Opoku Dwobeng II also called on the government and financial institutions to intensify financial literacy campaigns, particularly in market centres and rural communities.
Meanwhile, the Chief Executive Officer of Asokore Mampong Community Bank PLC, Francis Nantwi, cautioned customers to be vigilant when using digital banking platforms to avoid falling victim to fraud.
He said recent reports of customers losing money through fraudulent activities by scammers highlight the need for increased awareness and education.
Although Asokore Mampong Community Bank has not recorded such cases, Mr Nantwi stressed the importance of reminding customers about safe banking practices.
He advised customers never to disclose their personal identification numbers (PINs) or one-time passwords (OTPs) to anyone who requests them.
“No bank staff will call a customer and request a PIN code or OTP number. Therefore, I advise our cherished customers not to disclose such information to anyone,” he cautioned.
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