Receiver of insolvent microfinance companies, Nana Eric Nipa has issued a warning to all loan defaulter of the liquidated institutions to pay up.

A statement said, “the Receiver wishes to notify the general public especially person/persons/institutions who took loan facilities from these defunct companies to visit any of the maintained branches of these institutions for repayment of the loans immediately.”

Attached to the release were 23 branches, account numbers and mobile money numbers, which are also available on

This is for the purposes of winding down the affairs of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies which had their licenses revoked on 31 May 2019 and 16 August 2019,

The Receiver encouraged all defaulters to settle their outstanding obligations to the defunct companies through the respective MTN MoMo numbers and receivership bank accounts listed. 

The statement went on to mention that, “the Receiver will pursue all recalcitrant defaulters through all available means as permitted by the Act including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers.

“In this regard, the Receiver will soon publish the first list of recalcitrant defaulters and their respective addresses in the national dailies.”