The Receiver for the defunct financial institutions says over 10,000 claims totalling a value of GH¢610 million have been paid so far to depositors.

Speaking to JoyBusiness in an exclusive interview, Eric Nana Nipa said, “I tell you for a fact that between Monday and yesterday (Tuesday), we have paid in excess of 10,000 claims. We had paid in terms of value GH¢610million. We credited the accounts of schools, hospitals and some individuals. So yes we made those payments between Monday and Tuesday.”

“…all depositors would be paid their monies that had been locked up. Of course this applies to depositors whose claims have been validated and agreed in the receivership and liquidation process. It isn’t any claim at all that would be admitted and paid because as I did mention there are some frivolous claims…”

Mr Nipah added, “gov’t has indeed provided funding to me and what I have is indeed GH¢5 billion which is consistent with the instructions and assurances of the President that there was going to be GH¢5 billion…”

He said “the GH¢5 billion consist of GH¢1 billion cash and GH¢4 billion by way of paper or bonds.”

Meanwhile, Mr Nipah has indicated that the payment process is expected to be completed by the end of March, 2020.

In his address to Parliament, President Nana Addo Dankwa Akufo-Addo said his government has made arrangements to pay all depositors of failed financial institutions, including customers of defunct microfinance company, DKM.

He stressed that the government has made available an extra ¢5 billion to pay affected depositors, 100% of their deposits.