Audio By Carbonatix
Majority Leader, Osei Kyei-Mensah-Bonsu, has suggested that parliament calls Bank of Ghana officials to come and explain how far they have gone in resolving the microfinance crisis that hit the Brong Ahafo Region, particularly the one involving DKM, in which a lot of depositors lost their savings.
“We came to some determination; we invited them here; we do not know whether because matters are outstanding, it may be imperative for us to call them back to let us know where they are in the measures they themselves suggested to us,” the majority leader said.
“Perhaps, it may be important or necessary to call them back or report to us where they are in the pursuit of those claims that existed and what measures they have put in place to pay back.
"When they came, the initial response was that nothing could be done; it was from this House that we forced them to make some admissions and they said they were going to put in measures to repay those of them who were duly registered with the banks,” he told Parliament," he adds.
Members of Parliament are asking for a parliamentary probe into the micro-finance scam that rocked the Brong Ahafo Region last year leading to the loss of millions of depositors' money.
The MPs want the Speaker, Prof. Aaron Mike Ocquaye, to treat the issue with the seriousness it deserves.
DKM Microfinance, Little Drops Financial Services, God is Love Fun Club, Jaster Motors and Investment Limited and Care for Humanity Fun Club, took deposits from clients with the promise of huge returns. In the end, depositors neither saw the returns nor the actual amounts they deposited.
A similar scam took place in the Volta, Upper East and Upper West Regions, with residents marching through the principal streets to petition the authorities.
The issue was blamed on the failure of the central bank to regulate the activities of non-bank financial institutions in the country. Former President, John Mahama told Parliament the "negligence" on the part of Bank of Ghana led to the scam.
As part of efforts to forestall similar scams in future, the previous government brought the Ghana Deposits Protection Bill, which was presented to Parliament for passage into law.
The MPs are demanding full investigation into the matte,r with recommendations to forestall future occurrences.
Latest Stories
-
Women’s Premier League referee allegedly assaulted during Ampem Darkoa vs Savanna match
11 minutes -
Ghana’s Daniel Laryea was the best referee at 2025 AFCON – Former Sports Minister
12 minutes -
Playing for Chelsea would be a dream – Prince Amoako Junior
19 minutes -
High sales demands force short trips, leaving commuters stranded in Accra – Drivers lament
30 minutes -
Dr Kwabena Donkor opposes fuel floor price at selected locations, calls for nationwide compliance
30 minutes -
Leadership is not about how long you have been around
44 minutes -
Arise Ghana pickets US embassy, demands Ofori-Atta’s return
50 minutes -
Not a replacement, not a fluke: Wendy Shay’s relentless climb to stardom
50 minutes -
IFC urges Ghana to sustain economic gains to boost investor confidence
51 minutes -
Today’s Front pages: Tuesday, January 20, 2026
52 minutes -
Energy Minister reviews TOR 2025 performance, sets priorities for 2026
54 minutes -
Police arrest suspect over death of Nigerian singer Destiny Boy
58 minutes -
The rhythms, stories, and artistes that defined Ghana music in 2025
1 hour -
Man arrested for allegedly stabbing relative in both eyes in domestic dispute
1 hour -
NSA sets January 23 deadline for 2026/2027 national service registration for nurses and midwives
1 hour
