The Receiver for the defunct financial institutions has revealed that only those that have had their claims validated shall be paid from today.  According to a statement issued by the Receiver Eric Nana Nipa, depositors are expected to receive a text message as to which branch to receive their funds and the amount that they would be receiving. Mr Nipa said CBG will open new accounts for all depositors whose claims have been validated and agreed in the receiverships of the above-resolved companies. The receiver an SMS message to depositors due for payment, setting out the Account number and Cash amount due to depositor. Those that have received their text messages are expected to proceed to the Consolidated Bank Branch identified showing their Identity Card to aid the payments.  According to the receiver, a combination of cash and bonds will be used to settle depositor claims.  It is expected that with the above funding arrangement comprising part cash and bonds, about 97.6% of individual claimants in number will be fully settled in cash. Other categories of depositors including corporate customers will be fully settled through a combination of cash and bonds. Clearance of outstanding deposits Mr Nipa in the statement said the receiver will fully settle outstanding depositor claims once these claims have been validated and agreed in the resolution process.  He noted that they are still working to validate depositor claims not yet validated and agreed in the receiverships and will communicate the status of depositor claims submitted within the claim deadline period, as and when they have been validated and agreed in the receiverships of the above-resolved companies. Payment of Fixed Investment Holders’ The same procedure may apply to these individuals and corporate institutions. The receiver noted that based on information to be provided by the Official Liquidator on Fixed Investment holders due for payment, CBG will open new accounts for all Fixed Investment Holders whose claims have been validated and agreed in the official liquidation of the affected institutions. Background President Akufo Addo during the State of the Nation Address the Nation Address announced that the receiver is expected to commence payment of the remaining funds that were locked up.   The President in his address announced that GH¢5 billion has been made to the receiver to aid this payment.  According to the finance minister Ken Ofori Atta about GH¢, 13 billion has been spent so far in cleaning up the financial sector.