President Akufo-Addo during the State of the Nation Address on February 20, 2020, in parliament stated that persons whose funds have been locked up in some defunct Savings and Loans companies and microfinance institutions will begin receiving their funds from Monday, February 24, 2020.
He said he had been informed by the Receiver of the Savings and Loans and the Microfinance institutions that the payments will total GH¢5 billion.
“I will like to repeat that all depositors of the savings and loans and Microfinance institutions including DKM which collapsed in 2015, will receive a 100% of their deposits once the validation exercise is concluded . . . I am informed that the Receiver of the Savings and Loans and the Microfinance institutions will begin on Monday, 24th February [2020], making payments to their customers, [with] these monies totalling GH¢5 billion being in addition to the GH¢13 billion being paid to the customers of the failed banks,” President Akufo-Addo said.
Confirming the President's statement, Managing Director (MD) of CBG, Daniel Wilson Addo, indicated that government has made available to CBG a combination of cash and bonds totalling about ¢5 billion to fully settle outstanding depositor claims.
To ensure that the affected customers are well served, there are clear modalities, he explained. According to him, the Bank will start by first paying depositors whose claims have already been validated.
He, therefore, advised depositors, whose claims are yet to be validated, to exercise patience. He assured them that their claims will also be paid as soon as the validation is completed by the Receiver.
He said SMS will be sent to depositors when their payments are due by the Receiver, adding that there was no need for them to go to the banking halls if they have not received notification by SMS, to come for their funds.
However, the Managing Editor of the Insight newspaper, Kwesi Pratt Jnr says not all the customers will receive their monies.
Contributing to a panel discussion on Peace FM's morning show 'Kokrokoo', he explained his argument.
"What it means therefore is that if you are not validated you will not be paid. And the process of validation means some may not be validated," he argued.
Watch his submission in video below
Source: Peacefmonline.com
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I wonder why people still continue to refer to this Pratt guy as a senior journalist. His logic is so terrible to the extent that even primary school pupils will laugh at him. I suspect it is 1diocy that's at play.
Without validation, how can the CBG establish that someone has truly deposited money with any of the defunct financial institutions in question? Otherwise, anybody at all can come and claim that he/she is owed money. This is common sense.
eiii all knowing Kwesi pratt, half a loaf is better than non, at least it is a right direction by paying customers money hatred will kill you and your grasscutter teeth
Whether Nana Addo is paying quarter or half is still payment, a journey of thousand miles begin with a step, hatr3d will kill you, if your usel3ss incompetentt had done this , we would have by now paid everyone involved. There is no free Landcrusser for . you can shout and ***barred word*** to all we care, grasshopper teeth
So is this news ahba
What is this guy's understanding of validation? Why has he chosen to disgrace himself so often for the ***barred word*** cause of the NDC?
Please go and inform Seth Terkper who was paying double salaries to his ministers and surpervised the collapse of all theses MFI's. He also claim that NPP government can not pay. Please tell him Akuffo Addo is paying us
What a character, always thinking negative on any NPP move. You have lost credibility so get lost