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Management of the First Allied Savings & Loans has asked it's numerous customers and the general public to disregard rumors that government will be taking over the financial institution anytime soon.

In an attempt to allay customers fears, the management, in a statement copied to Peacefmonline.com stated categorically that all it's "branches are operational and we continue to serve you".

"The Management of First Allied wishes to state that the stories are false and should be disregarded. Anybody in doubt can verify the institution’s ownership records from our regulator, the Bank of Ghana or the Registrar General’s Department", the statement further read.

Read full statement below:

The Management of First Allied Savings & Loans

Following the circulation of unfounded rumours that one ‘Nyantakyi’ who is associated with ‘FSL’ (a savings and loans company the government is allegedly stepping in to take over), ‘FASL’ has become a victim of mistaken identity which has sparked a run on our business by customers who could not distinguish between the two entities.

This is causing panic withdrawals among some of our customers.

The Management of First Allied wishes to state that the stories are false and should be disregarded.

Anybody in doubt can verify the institution’s ownership records from our regulator, the Bank of Ghana or the Registrar General’s Department.

All customers are to note that all our branches are operational and we continue to serve you.

We appreciate the anxiety of customers flowing from such rumors and we appeal to them to be patient with us as we attend to them. We wish to further reassure them that their funds are safe and secured.

We are working assiduously to rectify any challenge caused by these developments in the past few weeks.


Thank you.

Yaw Antwi.
Management Rep
First Allied