Defaulters and debtors of MTN’s Qwikloan are leaping for joy after Bank of Ghana and the Telco giant announced a chimera that automatically writes off the loans of debtors and defaulters.

In a joint statement by the two institutions, MTN and BoG described the move as an ignis fatuus put together to reduce the adverse impacts of the coronavirus outbreak on the ordinary Ghanaian citizen.

The statement said that the will-o’-the-wisp approach taken by the government will cost the nation some GHS6 million with more than 500,000 beneficiaries.

Ghanaians on social media, including the NDC-COVID-19 Response Team, have welcomed the decision and congratulated the government for the bold step taken to save the wallets of Ghanaians while on lockdown.