President Addo Dankwa Akufo-Addo has announced that the receiver of the defunct savings and loans and microfinance companies would start paying locked up funds of customers from Monday, 24th February 2020.
President Akufo-Addo disclosed that the Receiver is ready to disburse GHC5 billion in addition to the GHC13 billion that has already been spent on the financial sector clean-up. Delivering his fourth State of the Nation Address in Parliament on Thursday February 20, President Akufo-Addo reiterated that all customers of the defunct companies will receive their monies in full.
His assurance comes after Vice President Mahamudu Bawumia also assured during a recent Town Hall Meeting in Kumasi that such customers would receive 100% payments of their locked up funds, including customers of DKM, a defunct savings and loans firm. The Private Enterprise Federation (PEF) also recently criticized the government for delaying the payments after the President gave a directive to the Bank of Ghana and Ministry of Finance to provide money to pay the customers.
“I am informed that the Receiver of the Savings and Loans and Microfinance institutions will on Monday the 24th of February start paying most of the customers their monies totaling 5 billion cedis, being the addition to 13 billion cedis paid to customers of the failed bank,” he said.
He stressed that customers of DKM whose monies were locked up in the company in 2015 would also receive their total funds.
Credit: citifmonline.com
