Matilda Akakpo – Page 6

PAYMENT WON’T STOP PROSECUTION AGAINST YOU – AG TO ATO ESSIEN

BOG | Matilda Akakpo | June 18, 2020 | Comment off

The Chief State Attorney, Marina Appiah Opare, has said the plan by Mr. Willaims Ato Essien, CEO of the defunct Capital Bank, to pay the funds will not stop the trial from proceeding since the negotiation will affect only four of the charges. He and three others are facing 26 charges for various roles they played leading to the collapse of Capital Bank. The Attorney General on Thursday, June 18, 2020, rejected the repayment terms submitted by Ato Essien, who is standing trial for the collapse of the bank. Ato Essien wrote to the Attorney General’s Office for a payment plan. But Ms. Marina Appiah Opare told an Accra High Court on Thursday, June 18, 2020, that the agreement was “totally unacceptable”. She said the terms were not favorable to the State. The trial judge, Justice Kyei Baffour, after hearing the case, adjourned proceedings to July , 2020, saying should the State fail to reach an agreement, the case will proceed.

COURT GRANTS BOG STAY OF PROCEEDING IN GN SAVINGS AND LOAN CASE

Uncategorized | Matilda Akakpo | June 3, 2020 | Comment off

The Court of Appeal has by a unanimous decision granted the Bank of Ghana’s application for stay of proceedings in the GN Savings and Loans case in the High Court (Human Rights Division). All three Justices’ decision is pending the determination of the central bank’s appeal at the Court of Appeal against the decision of the High Court to hear the case brought by shareholders of GN Savings and Loans. The effect of the Court of Appeal’s ruling today is that the proceedings filed at the High Court by shareholders of GN are for now suspended. The Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom, sued the BoG and two others over the revocation of the license of GN Savings and Loans Company Limited. The suit, which was filed jointly by Coconut Grove Beach Resort and Conference Centre Limited and Groupe Nduom (GN) Limited, is challenging the decision of the central bank to declare GN Savings and Loans Company insolvent leading to the revocation of its operating license. The suit is challenging the issue of insolvency claim by the BoG, saying contrary to the central bank’s claims, a fair, truthful, just and independent assessment of GN Savings and Loans’ books would show it was very solvent “and particularly, that the value of Gold Coast’s government infrastructure project portfolio, running in excess of ¢2.2 billion in addition to other assets available to Groupe Nduom, could support the GN Savings and Loans to far exceed the value of its liabilities.” Reliefs Among the reliefs being sought by the plaintiff include a declaration that by failing to take into account the indebtedness of the government of Ghana and its MDAs to Groupe Nduom, Gold Coast Advisors Limited or GN Bank, before concluding that the savings and loans company was insolvent and, consequently, revoking its specialized deposit-taking license, violates their rights. They also want an order of certiorari, quashing the decision in the notice issued by BoG which declared GN Savings and Loans Company insolvent and, consequently, revoked its license to operate as a specialized deposit-taking institution. Again, the suit is seeking an order on BoG to restore to the company its license to enable it to continue operating as a specialized deposit-taking institution. It also wants an order on the receiver of the company “to submit the possession, management or control of the assets, operations and other activities of the company to its shareholders or persons who, immediately before August 16, 2019, were in possession, management or control of such assets, operations and activities.”

UT BANK CASE: GIVE AMOABENG ALL DOCUMENTS – COURT TO AG

Banks | Matilda Akakpo | May 28, 2020 | Comment off

The Attorney General has been asked by the court to give all the evidence it intends to rely on in the case against the founder of the defunct UT Bank, Mr Prince Kofi Amoabeng, who is on trial in connection with the collapse of the bank. Justice Philip Bright Mensah, a Justice of the Court of Appeal who sat as a High Court judge, ordered the AG on Thursday, 28 May 2020, to serve Mr Amoabeng and four others with all the necessary documents. The Attorney General has up to June 22 to file the disclosures and serve them on the defense team. Chief State Attorney Frances Mullen Ansah told the court on Thursday that his side was working to have the trial documents filed and served on the accused persons with the initial June 23 adjournment date in mind prior to the abridgement of time. In February, Mr Amoabeng and five others were slapped with 42 charges by the state. The charges came after an Accra Circuit Court on, Wednesday, 5 February 2020 dropped all the earlier charges against him. The five others include Johnson Pandit Asiama (2nd Deputy Governor of the Bank of Ghana (BOG) between May 2016 and December 2017), Raymond Amanfu (Head of Banking Supervision Department (BSD) at BOG from 2014 to October 2017), UT Holdings Ltd. (company which held shares in UT Bank Ghana Limited (UT).), Catherine Johnson (Head of Treasury who had also acted as the Head of Corporate Banking of UT.) and Robert Kwesi Armah (General Manager of Corporate Banking of UT). Police Prosecutor, ASP Emmanuel Nyamekye had earlier told the Circuit Court Judge, Emmanuel Essandoh that the state intended filing a fresh case against Mr Amoabeng at the High Court. To this end, he said the trial of Mr Amoabeng at the Circuit Court was no longer necessary. The businessman was arrested together with Mr Michael Nyinaku of the now-defunct Beige Bank and charged for mismanaging their banks which led to their collapse.

DEFUNCT CAPITAL BANK’S ATO ESSIEN WILLING TO REFUND GH¢27.5M TO THE STATE – LAWYERS

Banks | Matilda Akakpo | May 21, 2020 | Comment off

Embattled founder of the defunct Capital Bank, Ato Essien, is willing to refund GH¢27.5 million back to the state, his lawyers have said. Willaim Ato Essien is standing trial for allegedly collapsing the bank. The GH¢27.5 million is what the state has accused Essien of using as business promotion and which he allegedly carried in jute bags to be distributed to some people. The online news website of the state-owned Daily Graphic newspaper reports that the Counsel for Mr Essien, Baffour Gyewu Bonsu, told an Accra High Court on Thursday that his client had already paid GH¢1.4 million of the GH¢27.5 million to the state. According to the report, Mr Essien’s attorney said discussions are still ongoing with the prosecution, hence, the court should adjourn the case to enable the discussions to continue. The prosecutor, Mariana Appiah Oppong, a Chief State Attorney, confirmed to the court that lawyers for Essien had indeed informed her about their intention to pay the amount. “She, however, said the lawyers must bring a detailed proposal to the Director for Public Prosecution (DPP) and after a review the DPP would make a determination to accept it or not,” Graphic.com reports. Presiding Judge, Justice Eric Kyei-Baffour, has given Mr Essien’s attorneys one month to send the proposal to the DPP for hearing to continue on June 18, 2020. Mr Ato Essien and three others became the first to be hit with criminal trials over the banking crisis last year. All the four accused persons pleaded not guilty to the charges levelled against them. The Founder of the defunct Capital Bank, William Ato Essien; the Managing Director of the bank, Fitzgerald Odonkor, and two other persons — Tettey Nettey, the Managing Director of MC Management Services, a company said to be owned by Essien, and Kate Quartey-Papafio, a businesswoman and Managing Director of Reroy Cables Company Limited — have been put before the Accra High Court on 26 counts. They are facing charges of stealing, abetment to stealing, conspiracy to steal and money laundering.

UPDATE – RECEIVER TO PAY OUTSTANDING LOCKED UP FUNDS AFTER 2ND LEVEL VALIDATION IN MAY 2020 – GOV’T

BOG | Matilda Akakpo | May 7, 2020 | Comment off

The Receiver of the defunct Microfinance companies and savings and loans firms is set to complete a second level of validation processes to pay all affected customers whose funds were locked up after the licenses of those institutions were revoked by the Central Bank. The Minister of Information, Hon. Kwadwo Oppong Nkrumah as part of his press briefing today, May 7, 2020 updated on behalf of Mr. Eric Nana Nipah, the Receiver of the defunct 347 Microfinance Companies and 23 Savings & Loans and Finance House Companies that this exercise will finally be completed by May 2020. SEE UPDATE BELOW: Out of the top claim’s worth approximately GHS6.4 billion that was received at the close extended deadline for the submission of claims for these organizations: 347 Microfinance companies, 39 Microcredit companies, 23 Savings and Loans and Finance House Companies, legitimate claims admitted for processing and payment after validation, on the region of GHS5.66 billion. The approximate GHS740 million difference between the total claims received and value of the legitimate claims admitted for processing and payment was due largely two main reasons: Invalid claims which were rejected and Setoffs and cross lending, that is some depositors who are either taking loans from some of these same entities or had in their custody placement from some of these resolved companies. What the Receiver has validated to pay is GHS5.66 billion. Now based on those validations, the Receiver, Special Liquidator has commenced work on some GHS5.32 billion leaving an amount GHS340 million that is going through the very final processes of second level checks. Payments made to date Depositor payments are made in forms, that is in cash and by way of zero coupon rated bonds. Approximately GHS2.11 billion has been paid in cash while about GHS2.95 billion has been paid in bond bringing total payment to GHS5.06 billion. Based on total cash payment to be made by the end of depositor exercises, it is expected that the population of individual depositors numbering about 297 thousand whose claims have been validated and accepted in the resolution of the aforementioned groups of companies and not less than 290 thousand which is about 98% of individual claims be fully paid in cash. The remaining 2% individual depositor claims will be paid by combination of cash and bonds. Next step on payment The Receiver is first of all concluding the depositor payment process and the key next step to be undertaking are as follows: The Receiver will conclude the final second level of validation of GHS340 million and make payment accordingly. It is expected that this should be fully completed by the end of May 2020. There are some of the organizations whose book records still have challenges; those institutions are being processed for further investigations. The Receiver will finally submit a report to Bank of Ghana (BoG) on depositor payment scheme.

DEFUNCT BANKS CEOs CASES GET MAY ADJOURNMENT

Banks | Matilda Akakpo | April 28, 2020 | Comment off

The Trials of owners and heads of defunct banks whose actions allegedly led to the banking crisis in recent years have been adjourned to latter parts f May due to restrictions imposed on the courts as measures to fight the Covid-19 pandemic. A total of 19 persons who were involved in the running of the banks have been charged before different division of the Accra High Court for their alleged involvements in misapplication of funds of their respective banks. UniBank Former Finance Minister Dr Kwabena Duffour, founder of defunct UniBank Ghana Limited, and eight other officers of the bank are in court from their alleged ‘dishonest’ spending of over GHS5.7 billion belonging to customers and investors of the insolvent private bank. Among the accused persons charged is the former 2nd Deputy Government of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, under whose watch over GHS450 million was allegedly doled out to uniBank, without following laid-down procedures according to the Attorney General’s Department. Dr Duffour, Dr Asiama, Kwabena Duffour II, Ekow Nyarko Dadzi-Dennis, Elsie Dansoa Kyereh, Jeffrey Amon, Benjamin Ofori, and Kwadwo Opoku Okoh are facing a total of 68 charges, including fraudulent transaction and money laundering, but they have all pleaded not guilty to the charges. Capital Bank The Founder and Chief Executive Officer of defunct Capital Bank, Ato Essien, the bank’s former Managing Director, Fitzgerald Odonkor, together with Tetteh Nettey, a former Managing Director of MC Management Service owned by Ato Essien, as well as a businesswoman, Kate Quartye Papafio, are before the court charged with 26 counts of conspiracy to steal, stealing, and money laundering. The four are alleged to have misappropriated a total of GHS620 million liquidity support given to the bank by the BoG to enable it to service its maturing debt. The accused persons, according to the state, opened various bank accounts with Capital Bank through which the GHS675 million BoG liquidity support was transferred to, while others were carried in jute bags to Ato Essien as payment for business promotion. UT Bank Former Chief Executive Officer (CEO) of insolvent UT Bank, Prince Kofi Amoabeng, and five others have been charged for their alleged conducts, leading to depositors of the bank losing money. The businessman and Dr Johnson Pandit Asiama, as well as four of his former employees, are before the court facing some 42 charges, including causing financial loss to the state. Mr Amoabeng is alleged to have transferred the investment some 15 companies totaling GHS51,334,387.08 and $8,799,917 from UT Bank to UT Holdings, a company he owns, without the knowledge and consent of the investors. Dr Asiama, on the hand, is accused of allegedly causing financial loss to the state by approving GHS460 million liquidity support for UT Bank, without following laid-down procedures. Apart from Mr. Amoabeng and Dr Asiama, other persons charged are Raymond Amanfu, former Head of Banking Supervision Department (BSD) at BoG from 2014 to October 2017; UT Holdings Limited (UT Holdings); Catherine Johnson, former Head of Treasury who had also acted as the Head of Corporate Banking of UT and Robert Kwesi Armah, a former General Manager of Corporate Banking of UT. Adjournment The case involving Ato Essien, and others was to begin with the prosecution led by Director of Public Prosecutions (DPP), Yvonne Atakora-Obuobisa, set to call its first witness, but the Covid-19 restrictions affected the process. The other cases are at pre-trail stages as the Office of the Attorney General is taking steps to disclose all the documents it intends to rely on for the trial. The cases have all been adjourned to late May 2020 as a result of the restrictions. Source: Daily Guide, Thursday April 28, 2020

CBG EXPLAINS MODALITIES FOR PAYMENT OF CASH AND BONDS TO CUSTOMERS OF COLLAPSED FINANCIAL INSTITUTIONS ON BEHALF OF THE RECEIVER

BOG | Matilda Akakpo | April 6, 2020 | Comment off

Consolidated Bank Ghana (CBG) has clarified how customers of collapsed financial institutions can access their cash and bonds, following government’s decision to pay the affected customers. It will be recalled that Government has provided a combination of cash and bonds totalling Five Billion Ghana Cedis (GHS5,000,000,000.00) to pay depositors of the collapsed financial institutions. At the direction of the Receiver of the defunct MFI & S&Ls the bank has almost concluded paying affected customers of the defunct institutions the cash component of their validated investments. For customers whose deposits exceed the cash payment threshold as advised by the Receiver, a special account has been opened to hold the balance payable. According to CBG, funds in excess of the cut-off for cash payment will be held in special holding accounts opened for the depositors and paid in equal instalments every six months over a five year period after the initial payment is made in March 2021. The Bank has established a mechanism for those depositors who wish to obtain cash ahead of the liquidation schedule to discount those expected cashflows with the bank at a very competitive rate. Managing Director of the Bank, Daniel Wilson Addo pledged the Bank’s commitment to play its role professionally and in its usual customer centric approach to business. He assured the depositors of the defunct financial institutions that the bank will soon publish the modalities involved to all concerned. The Managing Director concluded by reminding everyone of the need to observe the various safety protocols that have been advised to ensure containment of the COVID-19 virus. He advised customers to call 0302216000 or send a mail to talktous@cbg.com.gh for all enquiries.

RECEIVER ISSUES NOTICE ON BOND PAYMENT TO CUSTOMERS OF DEFUNCT S&LS AND MFIS WHOSE CLAIMS HAVE BEEN VALIDATED IN THE RESOLUTION PROCESS

BOG | Matilda Akakpo | April 2, 2020 | Comment off

The Receiver for the purposes of winding down the affairs of 347 Microfinance Companies and the 23 Savings & Loans And Finance House Companies wishes to notify the general public especially individuals and institutions whose claims have been validated in the resolution process that, effective Thursday 2 April 2020, Consolidated Bank Ghana Limited will be issuing a Bond Payment to depositors who have not been fully paid by the application of the cash component of Government’s funding provided for the exercise. See Press Release below: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 FULL PAYMENTS TO DEPOSITORS OF RESOLVED MICROFINANCE, AND SAVINGS AND LOANS AND FINANCE HOUSE COMPANIES WHOSE CLAIMS HAVE BEEN VALIDATED IN THE RESOLUTION PROCESS In line with Government’s commitment to protect depositors’ funds and to shore up public confidence in the financial system, Government has made available to the Receiver of the above resolved companies, as well as the Official Liquidator of the Micro Credit Companies in official liquidation, a combination of cash and Financial Instrument totalling approximately GHS5bn to fully settle outstanding depositor claims of these institutions. As at Tuesday 31 March 2020, of the GHS1bn cash component of Government’s funding made available to the Receiver/Official Liquidator on 24 February 2020, approximately GHS920m has been disbursed, leaving an amount of approximately GHS80m to be distributed to relevant depositors of the above resolved entities and Micro Credit institutions placed in official liquidation. Notice is hereby given that with effect from Thursday 2 April 2020, Consolidated Bank Ghana Ltd (“CBG”) will be issuing a Government backed non- interest bearing Financial Instrument worth approximately GHS4bn to depositors of the above institutions whose validated and agreed claims in the resolution exercises have not been fully extinguished by the application of the GHS1bn cash component of Government’s funding provided for this purpose. The main features of the Government backed Financial Instrument are as follows: Coupon Rate: Zero coupon rate i.e. Non-interest bearing Tenure: 5 Years Draw downs: 10 Equal instalments every six months Timing of First draw down payment: 31 March 2021. Depositors should please note that based on information to be provided by the Receiver/Official Liquidator on depositors due for payment, CBG will open Non Interest bearing Accounts for all depositors whose validated and agreed claim(s) remain outstanding after cash payments have been made to them by the Receiver/Official Liquidator, to defray part of their deposit claims in the resolution exercises. Depositors should note further that SMS messages will be sent from the Receiver/Official Liquidator to relevant depositors, setting out their Account numbers and the amounts credited to their Non Interest bearing Accounts held at CBG. The Receiver and Official Liquidator are in discussions with CBG aimed at providing depositors the opportunity to liquidate portions of their Account balances prior to the first draw down date of 31 March 2021. Stakeholders may direct all questions or clarifications on the above to the coordinators below:Tel: 024 243 9441/ 0550000966www.ghreceiverships.comSGDERIC NANA NIPAH

CBG ACCOUNT NUMBERS FOR REPAYMENT OF LOANS BY LOAN DEFAULTERS OF THE DEFUNCT MICROFINANCE COMPANIES

BOG | Matilda Akakpo | March 16, 2020 | Comment off

CBG ACCOUNT NUMBERS FOR REPAYMENT OF LOANS BY LOAN DEFAULTERS OF THE DEFUNCT MICROFINANCE COMPANIES 1 1st Eye Microfinance Company Limited 1297002100007 2 Abepa Microfinance Limited 1297002100008 3 Acea Microfinance Co. Limited 1297002100009 4 Adom Sika Microfinance Limited 1297002100010 5 Advalue Microfinance Limited 1297002100011 6 AE Microfinance Company Limited 1297002100012 7 AF Microfinance Company Limited 1297002100013 8 Afrique Capital Microfinance Limited 1297002100014 9 Akad Microfinance Limited 1297002100015 10 Aki Microfinance Company Limited 1297002100016 11 All Ghana Microfinance Limited 1297002100017 12 All Inclusive Microfinance Limited 1297002100018 13 Alliancetrust Microfinance Limited 1297002100019 14 Amisgold Microfinance Services Limited 1297002100020 15 A-N Microfinance Services Limited 1297002100021 16 A-One Trust Microfinance Services Limited 1297002100022 17 Appiaduman Microfinance Limited 1297002100023 18 Aspet-A Microfinance Limited 1297002100024 19 A-Star Microfinance Limited 1297002100025 20 Axis Direct Microfinance Company Limited 1297002100026 21 Benkoson Microfinance Limited 1297002100027 22 Best Microfinance Services Limited 1297002100028 23 Bluehills Microfinance Limited 1297002100029 24 Boafo Ne Nyame Microfinance Limited 1297002100030 25 Bodev Microfinance Limited 1297002100031 26 Boin Microfinance Limited 1297002100032 27 Bonamax Microfinance Company Limited 1297002100033 28 Brite Life Microfinance Limited 1297002100034 29 Broadview Capital Microfinance Limited 1297002100035 30 Capital and More Microfinance Company Limited 1297002100036 31 Capital Connect Microfinance Limited 1297002100037 32 Cash Multitrust Microfinance Limited 1297002100038 33 Cashphase Microfinance Company Limited 1297002100039 34 Cashplus Microfinance Limited 1297002100040 35 Christian Community Microfinance Limited 1297002100041 36 Citizen Capital Microfinance Limited 1297002100042 37 City Credit Microfinance Limited 1297002100043 38 Connect Capital Microfinance Limited 1297002100044 39 Cottage Microfinance Limited 1297002100045 40 Credability Investment and Microfinance Limited 1297002100046 41 Crown Capital Microfinance Limited 1297002100047 42 Crown House Microfinance Limited 1297002100048 43 Cymain Capital Microfinance Limited 1297002100049 44 Cypress Microfinance Company Limited 1297002100050 45 Dahinsheli Microfinance Limited 1297002100051 46 Daily Capital Microfinance Limited 1297002100052 47 Datacash Microfinance Limited 1297002100053 48 DBM Microfinance Limited 1297002100054 49 Delight Microfinance Company Limited 1297002100055 50 DES Microfinance Limited 1297002100056 51 Dolphin Microfinance Services Limited 1297002100057 52 Donewealth Microfinance Limited 1297002100058 53 Dove Microfinance Company Limited 1297002100059 54 DPF Microfinance Limited 1297002100060 55 D-Vanc Microfinance Limited 1297002100061 56 Dwetire Microfinance Limited 1297002100062 57 Easyfast Microfinance Limited 1297002100063 58 Ebenezer Microfinance Company Limited 1297002100064 59 Eclipse Microfinance Limited 1297002100065 60 Emefs Microfinance Limited 1297002100066 61 Emeralf Microfinance Limited 1297002100067 62 Emerge Microfinance Limited 1297002100068 63 Emeton Microfinance Services Limited 1297002100069 64 Empire Credit Microfinance Limited 1297002100070 65 EMWL Microfinance Company Limited 1297002100071 66 ET Microfinance Limited 1297002100072 67 Evergreen Microfinance Limited 1297002100073 68 Expressway Microfinance Limited 1297002100074 69 Fast Track Capital Microfinance Limited 1297002100075 70 Financial Republic Microfinance Company Limited 1297002100076 71 Fino Microfinance Limited 1297002100077 72 First Call Microfinance Company Limited 1297002100078 73 First Liberty Microfinance Limited 1297002100079 74 Fountaingate Microfinance Limited 1297002100080 75 Frontier Capital Microfinance Limited 1297002100081 76 Frontline Microfinance Limited 1297002100082 77 FTS Capital Microfinance Limited 1297002100083 78 Future Leaders Microfinance Limited 1297002100084 79 GAB Microfinance Limited 1297002100085 80 GAD Microfinance Limited 1297002100086 81 Galaxy Microfinance Limited 1297002100087 82 Geo Multi Microfinance Limited 1297002100088 83 GG Credit Microfinance Company Limited 1297002100089 84 Ghabsy Microfinance Limited 1297002100090 85 Giant Steps Microfinance Services Limited 1297002100091 86 Global Feed Microfinance Limited 1297002100092 87 Global Trust Microfinance Services Limited 1297002100093 88 God Is Perfect Microfinance Limited 1297002100094 89 Goldman Capital Microfinance Co. Limited 1297002100095 90 Great Nation Microfinance Limited 1297002100096 91 Greenfield Microfinance Services Limited 1297002100097 92 Hegis Microfinance Limited 1297002100098 93 Heritage Microfinance Limited 1297002100099 94 Hodidi Microfinance Company Limited 1297002100100 95 Home Support and Allied Microfinance Limited 1297002100101 96 Idos Microfinance Limited 1297002100102 97 Integrity Capital Microfinance Limited 1297002100103 98 JCF Consumer Microfinance Limited 1297002100104 99 JDC Microfinance Company Limited 1297002100105 100 Jefam Microfinance Company Limited 1297002100106 101 Jidai Microfinance Limited 1297002100107 102 JW Microfinance Limited 1297002100108 103 Kingdave Microfinance Limited 1297002100109 104 Kingsbridge Microfinance Limited 1297002100110 105 KKA Empire Microfinance Limited 1297002100111 106 Kwahu Microfinance Company Limited 1297002100112 107 Lake View Microfinance Limited 1297002100113 108 Legend Microfinance Co. Limited 1297002100114 109 Liberty Dmi Microfinance Limited 1297002100115 110 Liberty Trust Microfinance Limited 1297002100116 111 LJ Cashplus Microfinance Limited 1297002100117 112 Lloyds Capital Microfinance Limited 1297002100118 113 Mace Microfinance Limited 1297002100119 114 Masadar Microfinance Limited 1297002100120 115 Melbond Microfinance Limited 1297002100121 116 Meridian Microfinance Limited 1297002100122 117 Micaid Microfinance Company Limited 1297002100123 118 Mop Microfinance Limited 1297002100124 119 Multi Money Microfinance Company Limited 1297002100125 120 Multibility Microfinance Limited 1297002100126 121 Nas Microfinance Company Limited 1297002100127 122 Nationwide Microfinance Limited 1297002100128 123 New Business Microfinance Limited 1297002100129 124 New Image Microfinance Limited 1297002100130 125 New Ways Microfinance Limited 1297002100131 126 Nkosuo Microfinance Limited 1297002100132 127 1 Microfinance Company Limited 1297002100133 128

LIST OF ACCOUNT NUMBERS FOR LOAN REPAYMENTS OF DEFUNCT SAVINGS AND LOANS

BOG | Matilda Akakpo | March 16, 2020 | Comment off

LIST OF ACCOUNT NUMBERS FOR LOAN REPAYMENTS OF DEFUNCT SAVINGS AND LOANS No CBG ACCOUNT NUMBERS FOR LOAN REPAYMENTS BY DEFAULTERS OF THE DEFUNCT SAVINGS AND LOANS COMPANIES Account Type Account Number 1 GN Savings and Loans (In Receivership) GHS 1315515100002 USD 1315515100003 2 Accent Financial Services(In Receivership) GHS 1315515100004 USD 1315515100005 3 Adom Savings and Loans(In Receivership) GHS 1315515100006 USD 1315515100007 4 Alltime Finance (In Receivership) GHS 1315515100008 USD 1315515100009 5 Alpha Capital Savings and Loans(In Receivership) GHS 1315515100010 USD 1315515100011 6 ASN Financial Services (In Receivership) GHS 1315515100012 USD 1315515100013 7 CDH Savings and Loans (In Receivership) GHS 1315515100014 USD 1315515100015 8 Commerz Savings and Loans (In Receivership) GHS 1315515100016 USD 1315515100017 9 Crest Finance House Ltd (In Receivership) GHS 1315515100018 USD 1315515100019 10 Dream Finance Co. Ltd (In Receivership) GHS 1315515100020 USD 1315515100021 11 Express Savings and Loans(In Receivership) GHS 1315515100022 USD 1315515100023 12 First African Savings and Loans (In Receivership) GHS 1315515100024 USD 1315515100025 13 First Allied Savings and Loans (In Receivership) GHS 1315515100026 USD 1315515100027 14 First Ghana Savings and Loans(In Receivership) GHS 1315515100028 USD 1315515100029 15 Firstrust Savings and Loans (In Receivership) GHS 1315515100030 USD 1315515100031 16 Global Access Savings and Loans(In Receivership) GHS 1315515100032 USD 1315515100033 17 Ideal Finance (In Receivership) GHS 1315515100034 USD 1315515100035 18 IFS Financial Services (In Receivership) GHS 1315515100036 USD 1315515100037 19 Legacy Capital Savings and Loans(In Receivership) GHS 1315515100038 USD 1315515100039 20 Midland Savings and Loans (In Receivership) GHS 1315515100040 USD 1315515100041 21 Sterling Financial Services(In Receivership) GHS 1315515100042 USD 1315515100043 22 Unicredit Savings & Loans (In Receivership) GHS 1315515100044 USD 1315515100045 23 Women’s World Banking Savings&Loans (In Receivership) GHS 1315515100046 USD 1315515100047 RECEIVERSHIP MTN MOMO ACCOUNTS LIST OF DEFUNCT SAVINGS AND LOANS AND THEIR MTN MOMO NUMBERS No Name of Receivership S&L Account Type Account Number * THE RECEIVER 2 MOMO 0591452955 1 GN Savings and Loans (In Receivership) MOMO 0591449303 2 Accent Financial Services(In Receivership) MOMO 0591449269 3 Adom Savings and Loans(In Receivership) MOMO 0591449271 4 Alltime Finance (In Receivership) MOMO 0591449272 5 Alpha Capital Savings and Loans(In Receivership) MOMO 0591449273 6 ASN Financial Services (In Receivership) MOMO 0591449275 7 CDH Savings and Loans (In Receivership) MOMO 0591449274 8 Commerz Savings and Loans (In Receivership) MOMO 0591449276 9 Crest Finance House Ltd (In Receivership) MOMO 0591449277 10 Dream Finance Co. Ltd (In Receivership) MOMO 0591449279 11 Express Savings and Loans(In Receivership) MOMO 0591449281 12 First African Savings and Loans (In Receivership) MOMO 0591449308 13 First Allied Savings and Loans (In Receivership) MOMO 0591449309 14 First Ghana Savings and Loans(In Receivership) MOMO 0591449310 15 Firstrust Savings and Loans (In Receivership) MOMO 0591449278 16 Global Access Savings and Loans(In Receivership) MOMO 0591449302 17 Ideal Finance (In Receivership) MOMO 0591449316 18 IFS Financial Services (In Receivership) MOMO 0591449307 19 Legacy Capital Savings and Loans(In Receivership) MOMO 0591449317 20 Midland Savings and Loans (In Receivership) MOMO 0591449284 21 Sterling Financial Services(In Receivership) MOMO 0591449283 22 Unicredit Savings & Loans (In Receivership) MOMO 0591449282 23 Women’s World Banking Savings&Loans (In Receivership) MOMO 0591449315

Author: Matilda Akakpo