Former Deputy Energy Minister in the erstwhile Mahama Administration, John Jinapor says it is unfair for President Akufo-Addo to pay only deposit-taking institutions customers leaving out customers of Fund Managers.
According to the Member of Parliament for Yapei-Kusawgu Constituency, the Fund Managers are regulated like Bank of Ghana regulating deposit-taking institutions which are both enshrined in the 1992 Constitution.
Speaking on Okay FM’s 'Ade Akye Abia' Morning Show, the member of the Finance Committee of Parliament indicated that Fund Managers like Gold Coast Security and others are regulated by the Security and Exchange Commission (SEC).
“My major point with regards to the President's assurance to pay all customers of DKM and other Financial Institutions has to do with those with the Fund Managers. It is not everybody that deposit for safe-keeping, some people invest in banks, people invest in Fund Managers. The Fund Managers are regulated by the Security and Exchange Commission . . . These are all regulators under the law . . . " he opined.
He reiterated that the decision of the President to pay customers of the defunct Savings and Loans Companies and Microfinance institutions, and leaving out customers of Fund Managers who are both regulated by mandated bodies, is not proper and fair.
“ . . Any such decision by any government to pay customers of deposit-taking institutions to the detriment of Fund Managers is unfair, unethical and not proper,” he stressed.
He emphasized that Microfinances and Fund Managers must be treated equally and equitably.
"Savings and Loans give more interest than Fund Managers and so why will you choose microfinance customers, pay them and leave out those who invested with Gold Coast Security and others? What crime have they committed?" he rhetorically asked.
Source: Daniel Adu Darko/Peacefmonline.com/[email protected]
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I am pleading with NPP supporters and sympathizers to allow the government to speak for itself on this matter. Just as a definite statement was made by several Government Appointees including the President, that Customers of Microfinance and Savings & Loans Companies will be paid 100% of their locked up funds, so are we expecting them to make a definite declaration that customers of Fund Managers would also get 100% of their locked up funds paid. After all, the Fund Managers were also under regulation by SEC.
I hope the government will listen to Mr. Pianim on this sensitive subject matter.
SEC is currently validating claims of investors submitted to them and per a notice sent to these affected investors the first payment shall be made after the validation exercise.
You are very right, they will surely see who is worth our vote since 'we are greedy than they are' I pray that the way they rig the election will backfire that day because they cannot get true win, never and if they think free SHS is going to give them that win then the are day dreaming, kai.
I heard and saw this same guy called John Jinapor on Newfile complaining why the gov't spend the tax payers' money to pay depositors. He also complained about the gov't going to borrow money to pay depositors. Now he's hypocritically blaming gov't for not paying everybody. Wonders they say, will never end.
People who invested with Fund Managers will also be paid. The Receivers are paying depositors of banks, Savings and Loans, micro finance and micro credit firms for now. Those that are regulated by SEC will be paid later.
Maya Angelou book entitled I know why a caged bird sings. This Junapor and his wife opened a micro-inance in Accra that is the reason he urging the government to pay the fund managers daawakonko.You and your cohorts made Ghana a cash cow and millked it to the lowest point. Anyway you were able to built more than estates houses enjoy that booty,
John Jinapor, the NEW Financial guru of NDC is a very funny man. He behaves as if he has not been in government before. Jinapor, please listen to me. Governing a country is about making choices. Nana Addo chose Free SHS but Mahama chose bus branding and buying Airbus at higher prices. How fair were Mahama choices to Ghanaians? Jinapor, you always make me underestimate your intelligence and you need to buck up in your thinking
ka wo ano pado wo hom, woye nyema rough rough banana enya ahom ere kasa. me te de ere kasa na oy3 me ebufuw brutal
Very, very sad for the government to continue delaying for the payment of these investors especially the pensioners who are dying since they could not access their monies for medical attention.