Ghanaians, especially business owners, have been entreated to desist from keeping their earnings at home and instead deposit them in banks for safekeeping.

The Adwumfourhene of Otumfuo, Nana Opoku Dwobeng II, says it is safer to keep money in financial institutions than at home, where it can easily be lost to theft, fire, or natural disasters.

He referenced the recent flooding that hit parts of Accra and the Central Region, noting that many victims lost all the cash they had stored in their rooms.

“During the recent floods in Accra and the Central Region, we saw how people lost everything, including money they had kept in their homes,” Nana Dwobeng II observed. “This should be a lesson to all of us. Banks are safer, and they also help in growing the economy.”

He was speaking at the commissioning of the Adum branch of Asokore Mampong Community Bank PLC in Kumasi.

The traditional leader stressed that aside from security, banking money promotes accountability and gives businesses access to loans and other financial services needed for expansion.

Nana Opoku Dwobeng called on traders and entrepreneurs across the country to cultivate the habit of saving with banks and mobile money platforms to protect their livelihoods.

He further urged the government and financial institutions to continue public education on financial inclusion, especially in market centres and rural communities.

Meanwhile, the Chief Executive Officer of Asokore Mampong Community Bank PLC, Francis Nantwi, called on customers of banks to be vigilant when using digital channels to avoid fraud.

He observed recent complaints from customers of other financial institutions about how fraudsters scam them and withdraw their hard-earned money from their bank accounts.

He noted that while Asokore Mampong Community Bank has not recorded such incidents, it is important to create awareness and educate customers.

He cautioned customers not to, under any circumstances, reveal their PIN code or OTP to anyone who calls demanding it.

“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.” Mr. Nantwi cautioned.