The Coalition of People Affected by the Banking Collapse has expressed their disappointment in the government for what they describe as inept handling of their locked up investment payment.
The over 2,000 members in the Bono Region say they won’t accept the government’s new arrangement of a 5-year bond or only a 50% payment as that will further exacerbate their sufferings.
The aggrieved customers at a press conference in Sunyani say if the government does not review and initiate alternative plans to effect payment of their hand earned investment after two weeks, they will march to the Jubilee House and will only leave when full payment is done.
The government in 2017-2018 undertook reforms in the banking and financial sector to clean up the sector, leaving financial institutions stronger.
The government had assured depositors or clients of the affected institutions that their monies will be safe and paid in full.
The aggrieved customers claim they held on to that promise and entrusted their monies and lifetime savings in the banks and the financial institutions.
Prince Agyei Hayford, just like Yaro Abdulai, Emmanuel Asante, and many others, told Joy News, “my locked up investment has rendered me helpless and made me a frustrated young man.
“My sister, just like my other family members who depends on me for support, has deferred her university education because I could not raise another money to pay her fees”.
“At first you go about your normal business as a young man, but now some people see you as a failure in the society just because I did one investment that I thought will give me the interest to help me go higher”, he continued.
He, however, hopes the government will ease his burden by paying him in full what he described as his substantial investment.
Addressing the press, spokesperson for the customers, Nicholas Agarena said government’s cleanup exercise that affected the local banks and financial institutions has affected liquidity in their micro-businesses thereby rendering them jobless as lives and properties have been lost as well.
”Worse still, through this action, the Government has rendered us depositors impotent, useless and redundant while some wives have deserted their husbands for their failure to perform their duties, he grieved.
Clad in red bands, the spokesperson said the government’s new arrangement of a payment plan will worsen their plight.
“Then after many of us agitated that we can’t wait for 5 years and want our monies now, government tells us to take the bond to the Consolidated Bank of Ghana who will discount it by 50% and pay that to us whilst we forgo the remaining”, Agarena said, describing the decision as unacceptable and insensitive to their sufferings.
He said, “if after two weeks we don’t receive any favorable revised payment plan from the government to refund and pay us all our monies, we shall besiege the Jubilee house and occupy it till they pay us our money. We have duly served our notice”
The Coalition of People Affected by the Banking Collapse, includes persons whose investments are still locked up in the many defunct microfinance companies such as DKM, Jestor Motors, and the recent bank and financial sector cleanups.
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