"Exercise patience, payment of your locked-up cash will take time – GHASALC Sec.

Executive Secretary for the Ghana Association of Savings and Loans Companies (GHASALC), Twenaboah Kodua Boakye, has asked aggrieved persons of the defunct banks to exercise patience as the validation procedure takes time.
Customers of the defunct microfinance and savings and loans companies are to be paid their locked-up cash effective yesterday, February 24, 2020. This was announced during President Nana Akufo-Addo’s State of the Nation Address on the floor of parliament last Thursday.
He stated that his government has released GHS5 billion to the Receiver to enable the payment of customers’ locked up deposits once validation is completed.
“I am informed that the Receiver of the Savings and Loans and the Microfinance institutions will on Monday 24th February, begin making payments to their customers, [with] these monies totalling ¢5 billion being in addition to the ¢13 billion being paid to the customers of the failed banks.”
“I will like to repeat that all depositors of the savings and loans and Microfinance institutions including DKM which collapsed in 2015, will receive 100% of their deposits once the validation exercise is concluded,” Akufo-Addo added.
Speaking with Ekourba Gyasi on Atinka AM Drive, Executive Secretary for the Ghana Association of Savings and Loans Companies (GHASALC), Twenaboah Kodua Boakye, noted that some of the customers has been paid.
He added that the receiver is still sending text messages to affected clients of the defunct banks and so it would be too early to doubt the process.
 
Ghana | Atinkaonline.com | Vivian Adu Boatemaa

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