The Progressive People’s Party (PPP) has appealed to the Government and the Securities and Exchange Commission (SEC) to pay all affected customers of the BlackShield/Gold Coast Fund Management Company (GCFM).

The PPP said there was no justification for the Government to wait for a liquidation order for BlackShield/Gold Coast assets to be issued before making payments to customers.

In a statement signed by Mr Felix Mantey, the Director of Communications, PPP, and shared with the Ghana News Agency, the Party said it could not fathom why customers of other fund management companies that were closed down in 2019 had been paid.

The SEC revoked the license of GCFM in 2019 as part of measures to “sanitise” the fund management sector.

“It is shocking that after three years of the revocation, government has refused to pay the affected customers and there are continuous agitations all over the country due to the severe impact this unfriendly decision by government has brought on the customers,” the PPP said.

The Party said customers of the GCFM “deserve better arrangement” as it was done in the case of other institutions.

“We believe the customers deserve better in this arrangement so government should urgently fulfil its pledge by paying the affected customers because, our taxes have been collected for this purpose,” the Party added.