Tensions escalated as members of the Locked-Up Investment Holders Forum clashed with a Deputy Finance Minister, Dr Stephen Amoah when they resumed their picketing at the Finance Ministry on Wednesday, May 15.

The protest, which is not the first of its kind by the group, sought to pile pressure on the Minister of Finance to allocate funds to the Bank of Ghana to revoke the licenses of insolvent Finance Houses and Savings & Loans companies and pay depositors their funds.

Speaking on Joy FM's Midday News on Wednesday, a member of the group insisted that their leader should be allowed to communicate with the Deputy Minister in his office, stating that it was disrespectful to hold discussions with them outside.

“You cannot send him to your office? What kind of life is this?". What kind of impression is this? He should send him to your office and talk to him. It is an insult for him to talk to you outside here. You do not have any respect for your father. We have worked for so many years to be who we are. What work have you done?"he lamented.

The convenor of the group, Dr Anane Antwi, who spoke to the Deputy Finance Minister, said Dr Stephen Amoah assured them of the government’s response as soon as possible.

He said the Minister promised to forward their petition to the Minister of Finance for the necessary action.

“He is going to take it up and have a discussion with the Minister and give us their response as soon as practicable. I have told him we are coming here every Wednesday, and therefore, if we get a response and the response is such that we do not have to come, we will not come."

"If the response comes and it's not acceptable, we will continue to come,” he noted.

The licences of over 400 financial institutions were revoked by the Bank of Ghana between 2017 and 2019 causing depositors' funds to be locked up.