IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT,2016(ACT 930) AND IN THE MATTER OF THE RECEIVERSHIPS OF 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS AND LOANS AND FINANCE HOUSE COMPANIES AND NOTICE OF CONVERSION OF GOVERNMENT BACKED NON-INTEREST-BEARING COMMERCIAL PAPER (“BONDS”) INTO CASH AT NO DISCOUNT IN RESPECT OF PAYMENTS TO AFFECTED […]
IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930) AND IN THE MATTER OF THE RECEIVERSHIPS OF THE 347 MICROFINANCE COMPANIES AND 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES NOTICE TO THE GENERAL PUBLIC Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act […]
Vice President Dr Mahamudu Bawumia says government had no option than to shut down some banks and financial institutions in the country. He said even though the situation is sad it didn’t make sense to continue supporting these banks that are suffering. “It was bad . . . when I saw the numbers at the […]
President Nana Addo Dankwa Akufo-Addo has said his government has paid all the locked-up deposits in the nine local banks that collapsed and 98 per cent of the funds that got stuck in the over 386 microfinance institutions, finance houses and savings & loans companies that also went down. The banks and financial institutions were […]
The Deputy Finance Minister, Charles Adu Boahen, has said a big chunk of depositors locked-up funds during the banking sector clean-up have been settled. He said at least 96% of persons whose monies were locked-up in the collapsed banks and saving and loans companies have received their deposits. Mr. Charles Adu Boahen disclosed that 20% […]
IN THE MATTER OF THE BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS ACT, 2016 (ACT 930) IN THE MATTER OF THE RECEIVERSHIPS OF THE 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS & LOANS COMPANIES AND FINANCE HOUSE COMPANIES NOTICE TO THE GENERAL PUBLIC EXTENSION OF DEADLINE FOR SUBMISSION OF BIDS TO PURCHASE LANDED PROPERTIES, USED MOTOR VEHICLES […]
The Receiver of the defunct 347 microfinance companies, 23 savings and loans and 39 micro-credit companies has recovered GH¢598 million out of the targeted combined assets of GH¢2.9 billion. The amount was recouped from loan recoveries (GH¢44 million), placements and investments (GH¢495 million), balances transferred from other banks (GH¢50 million), sale of vehicles (GH¢4 million) […]
The receiver is set to pay GH₵151.8 million to 5,637 former staff of 209 defunct Specialised Deposit Taking Institutions (SDIs) as outstanding salary arrears and compensation due them before the end of this month. This follows the Bank of Ghana (BoG) making available funds to the receiver and official liquidator to fully settle employee-related claims […]
The Receiver for the defunct 347 Microfinance Companies and 23 Savings and Loans Companies and Finance Houses, Eric Nana Nipah, says the government is not only interested in recovering assets and paying depositors, but will also commence prosecutions from August this year. In an interview with Citi Business News, Mr. Nipah, who has assured a […]
The Receiver of the defunct 347 Micro Finance Companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah, says customers who have not received their claims, should be able to access them by the end of July this year. According to Mr. Nipah, he has already paid about 96% of customers, and is hopeful […]