Customers of collapsed saving and loans, as well as microfinance, institutions, also known as specialised deposit-taking institutions (SDIs), can now heave a sigh of relief following the initiation of a process to pay the full amounts of their deposits to them. The receiver and Official Liquidator of the defunct SDIs started the process yesterday, after […]
Customers of defunct Savings and Loans, as well as microfinance companies, are to receive their payment through the Consolidated Bank Ghana (CBG). The Bank in a communique to staff Monday outlined modalities for payment to customers effective today, February 24. “Based on data to be submitted to CBG by the Receiver, CBG will open new accounts for […]
The Official Liquidator (OL) of the 39 insolvent microcredit companies whose licenses were revoked by the Bank of Ghana (BoG) has announced modalities for the payment of the outstanding fixed investment holder’s obligation: PRESS RELEASE NOTICE OF FULL PAYMENTS TO FIXED INVESTMENT HOLDERS OF 39 MICROCREDIT INSTITUITONS (IN OFFICIAL LIQUIDATION) WHOSE CLAIMS HAVE BEEN VALIDATED […]
The receiver for 347 collapsed Microfinance companies and 23 Savings and Loans and Finance House Companies has given modalities for paying in full, all the locked -up funds of the customers of the defunct institutions. This is in line with a statement issued by Eric Nana Nipah a copy of which has been indicated below: […]
President Akufo-Addo has announced that the Receiver of the defunct Savings and Loans and Microfinance Companies will start paying locked up funds of customers from Monday, 24 February 2020. The President disclosed that the Receiver is ready to disburse 5 billion cedis in addition to the 13 billion cedis that has already been spent on […]
The Economic and Organized Crime Office (EOCO), has frozen the assets of Nii Kotei Dzani, a Member of the Council of State and founder and Director of defunct Ideal Finance. According to Citi Business News sources, the action is to among other things intended to find ways to retrieve funds from him to pay back […]
The former Chief Executive Officer of insolvent UT Bank which is now defunct, Prince Kofi Amoabeng, and five others charged with their alleged conduct leading to depositors of the bank losing money were yesterday granted a total of GH¢320 million bail by an Accra High Court. The court presided over by Justice Bright Mensah, a […]
Vice President, Dr. Mahamudu Bawumia, says all customers of defunct savings and loans and microfinance companies will be paid their locked up funds in full, including DKM customers who were affected in 2015. This is the second time a high government official has made the assurance following a directive by President Akufo Addo to the […]
The Receiver for the collapsed microfinance and Savings Loans companies, has raked in about 2.6 million cedis from the auction sale of the first batch of confiscated vehicles owned by the defunct companies. The 5-day exercise is part of efforts to recoup monies to pay affected depositors. A variety of salon cars were put up […]
Dr Kwabena Duffour, a former Minister of Finance and owner of defunct Unibank and his son, Kwabena Duffour II, the former Deputy Governor of the Bank of Ghana (BoG) and six others have been charged with various charges including conspiracy to commit crime, fraud, money laundering which led to the collapse of the bank in 2017.