Customers of all the collapsed financial institutions – banks, microfinance firms, savings & loans companies, finance houses and fund managers – will have a full refund of their locked-up deposits and investments, President Nana Akufo-Addo has said.
“Thus far, the Ministry of Finance and the Bank of Ghana have worked together to guarantee payments of 100% of deposits of customers of the failed banks – which is being done”, the President announced in his Christmas message a couple of days ago, adding: “I have directed the Ministry of Finance to work with the Bank of Ghana to ensure that same applies to customers of microfinance and savings and loans companies whose licences have been revoked,” he said.
The financial sector cleanup exercise saw the collapse of nine local banks, 347 microfinance companies, 23 savings & loans and finance houses, as well as 53 fund management companies.
Justifying the collapse of those firms, Mr Akufo-Addo said: “We have had to take painful but necessary measures to sanitise and save the banking system – a process which I know has brought discomfort to many a household”.
“It is worthy to note, however, that the jobs of some 6,500 workers were saved as a result, instead of the 10,000 that could have been lost, in addition to the protection of funds of 4.6 million depositors”, the President added.
Source: Class News
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Very vindictive pregnant old man who can never ever be trusted even by his 51 government employed family and friends blacks
IS THIS OLDMAN STILL SLEEPING? THEN LET SOMEONE DO HIM A FAVOUR BY WAKING HIM UP E. 2020 HERE WE COME. WE GO SHOW NANA
Don Biko please be very careful the manner in which you dwell on political anger to spell a feeling. in all respect, do not insult an elderly person on the basis how nature made him or her. you have every right to misunderstand, challenge or complain on an opinion, mind and saying not how he or she walks, looks, talk or speak. Remember all scriptures warn against a dis respectfulness to elders. You may hate the president but please please i plead, do not insult elders on the appearance. Love you and merry Xmas
HAHAHAHA! OHHHH, HAHAHAHA!. DO YOU EVEN KNOW OF THE FIGURES OF THE TOTAL DEPOSITORS' FUNDS? YOU JUST OPEN YOUR MOUTH AT ANY ANGLE TO RELEASE THE FRUSTRATION YOU ARE GOING THROUGH SO THAT YOU CAN RELAX FOR SOME MINUTES. CAMPAIGN PERIOD HAS STARTED. CcONN OLDMAN!
Please Mr President,no long talk do it for me 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
Would paying of this money come from his own pocket? Oh God save us oooooooo
What debt are u talking about? We are not kinds....Nana will completely will pre- retire u before your time. We are happy with Nana and NPP regime.... Nana for 4 more years
Is he not the same person that said he won't refund the money of the institutions. Ghana politics is indeed for the stomach
***barred word***. When?????????? when the money has lost its value. with no interest. ***barred word*** of a president.
That is the price Ghanaians had to pay for voting a vindictive person as president. Just because he targeted a few individuals he ended poisoning the soup that everybody would eat! How come some banks which were not solvent were not collapsed? And some that had liquidity were rather forcibly closed down? We are watching you and we have taken note!