Government Releases Ghc5B To Settle Defunct Savings And Loans Customers

Government has released a total Ghc 5 billion to the receiver of the defunct Savings and Loans microfinance companies to settle all validated claims due depositors.

This was contained in an announcement gave by the Ministry on Monday, February 24.

President Nana Addo Dankwa Akufo-Addo had indicated in his message on the State of the Nation in Parliament last Thursday that measures have been set up to settle the clients from Monday.

As indicated by the announcement, by the arrival of the money “all investors will be paid their required funds”.

This comes after government burned through GH¢6.1 billion to settle clients of up to GH¢20,000 each, pending the sale of assets of the defunct financial institutions.

Up until this point, total of GH¢17.7 billion has been spent in the settlement of clients since the clean up of the financial sector

The announcement revealed that sale of properties of the defunct institutions has been too slow.

“We expect that the ongoing accelerated pace of the arraignments and intensification of the civil recovery process under the receivership will bring about considerable recuperation of these monies for the Treasurer.”

The funds will be dispensed to the clients through Consolidated Bank Ghana (CBG).

Depositors have been informed that the receiver and CBG will give a nitty gritty arrangement and systems on the best way to settle them.

In some other news, a concerned fan of Burna Boy has sent him a long letter. Read here.


4 thoughts on “Government Releases Ghc5B To Settle Defunct Savings And Loans Customers”

  1. I just want to say I’m beginner to blogging and certainly savored this web site. More than likely I’m planning to bookmark your site . You amazingly come with perfect articles. Many thanks for sharing your web site.

  2. hi and thanks for the actual blog post ive recently been searching regarding this specific advice on-line for sum hours these days as a result thanks

  3. Appreciating the time and energy you put into your site and in depth information you provide. It’s nice to come across a blog every once in a while that isn’t the same out of date rehashed information. Excellent read! I’ve saved your site and I’m including your RSS feeds to my Google account.

  4. An excellent share, I simply provided this onto an associate that was doing a little analysis on this. And also he in fact acquired me breakfast because I discovered it for him. smile. So let me reword that: Thnx for the treat! However yeah Thnkx for investing the time to discuss this, I feel highly about it and enjoy reading more on this topic. Preferably, as you become competence, would certainly you mind upgrading your blog with more information? It is highly handy for me. Large thumb up for this post!

Comments are closed.