Leader of Coalition for Affected Savings and Loans Customers, Kofi Sarpong, has expressed his disappointment in the President as he reveals that the affected savings and loans customers were unable to receive their monies on the 24th of February, 2020 as promised by the President.
In his speech at the State of the Nation Address, the President promised that persons whose funds were locked up in the collapsed savings and loans companies will receive their monies beginning February, 24th.
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“I am informed that the Receiver of the savings and loans and the microfinance institutions will on Monday 24th February [2020], begin making payments to their customers, [with] these monies totaling GH¢5 billion being in addition to the GH¢13 billion being paid to the customers of the failed banks,” the President stated.
However, in an interview on the Happy Morning Show aired on Happy 98.9FM, the leader of the Coalition of Affected Savings and Loans Customers revealed that the exercise focused on validation and verification rather than payment.
“The president said that on Monday, 24th, February, payment will start, he didn’t say processes will start. The processes began in September and the receiver informed us that within 30 days after the forms are filled, we will be validated. So what processes are they talking about from September till now? Have we still not been validated? So when will they be done?, he queried.
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According to him, prior to yesterday, he was informed by some media houses that they will not receive their monies because there were no modalities in place. However, because of the trust they had in the President, they had journeyed from far places to take their monies only to find out that they will not receive their monies.
He also revealed few of them had received their monies but not hundred-percent (100%) as assured by the President.
He thus pleaded with the President to come to their aid by migrating all the customers unto a system where their accounts can be credited.
The Bank of Ghana revoked the licenses of some 23 insolvent savings and loans companies and finance houses in 2019. This action caused the lock-up of the monies of customers.
However, President Nana Addo Dankwa Akufo-Addo has promised to give back monies to customers of these defunct institutions.
By: Alberta Dorcas N D Armah
