Today, the Locked-Up Investment Bondholders’ Forum picketed the Finance Ministry for the third consecutive week.

This demonstration is aimed at demanding the release of their locked-up funds from NDK Finance and three other deposit-taking institutions.

The group indicated that their persistent requests to meet with the Finance Minister, Dr. Mohammed Amin Adam, or his deputies to discuss their demands have yet to materialise.

Speaking to JoyNews, the group leader, Dr. Adu Anane Antwi said that they are demanding the Bank of Ghana (BoG) and Finance Ministry declare as insolvent and revoke the licenses of four deposit-taking institutions that have failed to release their funds to them. 

“We will be picketing every Wednesday until our demands are met. The demand is for the Ministry of Finance to make financial provisions to enable the Bank of Ghana to revoke the licenses of four insolvent financial institutions namely NDK Financial Services, SIC Life Savings and Loans, Bond Savings and Loans and SDC Financial Services,” he told Kenneth Gyasi.

He explained that the BoG has indicated these banks have become insolvent and their licenses need to be revoked.

According to Dr Antwi, the BoG requires the Ministry of Finance to make financial provisions before revoking the licenses to ensure that deposited funds can be paid back.

“Our demand is that the Bank of Ghana is waiting for the Ministry of Finance to make financial provisions so that they can revoke the licenses of these four institutions and pay deposited just as they did in 2017.”

Dr. Antwi maintained that the bondholders forum will continue to picket the Finance Ministry until they receive a clear response on what measures are being taken to address their demands.