Banking Crisis: Only 3,918 depositors haven’t been paid – Bawumia reveals

The Vice-President of Ghana, Dr. Mahamudu Bawumia has said that the government has kept to its promise of ensuring that depositors who had their monies locked up in over 82 collapsed micro-finance institutions do not lose their funds, MyNewsGh.com reports.

The Vice President in an exclusive interview with Kwame Adinkrah on Kumasi-based Pure FM monitored by MyNewsGh.com revealed that only 3,918 depositors have not yet received their locked up funds out of the 4.6million aggrieved customers and even with that, the receiver is working to resolve the legal issues surrounding it.

He blamed the situation on the erstwhile John Mahama’s government of which he accused of championing poor supervision and bad corporate governance in the banking sector.

“Financial issues can be quite complicated…but at the end of the day Nana Akufo-Addo said no depositor who has faithfully deposited to the banks or the micro financial institutions or the savings and loans will lose his or her money. 4.6 million Depositors. Savings and loans, banks and micro-finance.

In the last two weeks that I have seen the data, all the depositors have been paid except 3,918. Everyone of the 4.6million have been paid including the savings and loans and micro-finance and it cost us about 21billion Ghana cedis which was not budgeted…You see and with the economy, we are dealing with COVID and this financial sector mess but Nana Akufo-Addo says we should give equality of treatment to the micro-finance and the savings and loans like the same way we treated the banks.”

“We have made major progress as far as the payment of depositors is concerned and those that have not yet been paid have got certain legal issues that the receiver is sorting out but so far the government has done very well in keeping to our promise that everyone will get his money including customers of DKM and First Allied.”

Watch an excerpt of the interview on Kumasi-based Pure FM below.

Source: MyNewsGh.com