Audio By Carbonatix
Members of the Coalition of Affected Savings and Loans Customers (CASLOC) say the Receiver for the 23 Savings and Loans companies is inadequately funded to pay the depositors of the insolvent firms.
Speaking to the media in Accra, Secretary of the Coalition, Ezekiel Annor stated that their grievances lay in the inability to access all their funds, a year and a half after finance institutions holding their cash, had their licenses revoked.
Mr Annor said, “It was GH¢900 million that was released to the Receiver during the time the licenses of the 347 Microfinance institutions were revoked but when it came to the Savings and Loans and Finance Houses, no amount of money was mentioned to have been given to the Receiver; it is just three days ago that an amount of GH¢15.6 billion have been released or approved by the Presidency to be used for this exercise.”
He stated that no one knows when all the customers will receive their funds. He acknowledged the increased cap of GH¢20, 000 but added that nobody knows when this will be disbursed.
Mr Annor said the funds that have been released to the Receiver were insufficient to complete the task.
He noted that information available to the public suggests that only GH¢900 million was made available to the receiver, at the time licenses for the 347 MFC's were revoked but with the 23 Savings & Loans and Finance Houses Companies, no amount of money was mentioned as having been given to the Receiver.
He expressed distrust in a letter purported to have come from the presidency, sanctioning the release of GH¢15.8 billion funds, to make payments to affected customers.
"I don't trust it a hundred per cent, because I've come across similar figures for over a year now and none of them seems to have been working. So why should I put my trust in this one now?”
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Putin denounces Nato at scaled back Victory Day parade
60 minutes -
Humility and hard work will take you far — Dr Amin Adam to students
1 hour -
Dr Amin Adam urges students to embrace failure and resilience
1 hour -
What does it take to win ‘treble’ at TGMA?
1 hour -
WHO monitors rare hantavirus outbreak aboard cruise ship; three dead
2 hours -
Persistence key to success, says Karaga MP
2 hours -
No one has denied ex-NAFCO boss access to his lawyers – Deputy AG
2 hours -
Joy FM Mummy’s Day Out: Patrons welcomed with fresh coconut juice at Crown Forest
3 hours -
NDC fully supports Raymond Archer’s work as EOCO boss – Abass Nurudeen
3 hours -
Raymond Archer has made EOCO a one-man institution – Afenyo-Markin
3 hours -
Kumasi to become Industrial energy hub with over 1,000MW capacity — Energy Minister
3 hours -
Hanan’s case is one of EOCO’s strongest — Raymond Archer asserts
3 hours -
Constitution of NPP policy committees a step in the right direction — Osae-Kwapong
3 hours -
Samson’s Take: Transfers as punishment – The confessions of Minister Linda Ocloo
4 hours -
Raymond Archer denies blocking lawyers’ access to Hanan and wife in EOCO custody
4 hours