Professor Stephen Adei, the board chairman of Ghana Revenue Authority, Member of the Advisory Board Ministry of Finance, a member of the National Development Planning Committee, Government Appointee on Supreme Court Committee last Saturday, 29th February 2019 made a much-awaited statement that “the government has set aside 1 billion Ghana cedis to pay depositors of defunct financial institutions including even DKM”.
He said this when he was speaking in Takoradi at Businessmen and Professional Summit 2020 organized by Assemblies of God church Southwestern region of the Men’ Ministry on a theme; ‘Business Development and Economic Empowerment’. He was the main speaker for the summit. However, in attendance were Western Regional Minister, Elder Kofi Abaidoo, Mr. Anim of Zoomlion, and a host of dignitaries.
As a member of the Advisory Board Ministry of Finance, this statement is assuring and reassuring and he added that verifications are ongoing. In that, the affected depositors should do their verifications at the Consolidated Bank Limited and as soon as you are verified payment will be processed to be effected in the respective accounts.
The Central Bank did a cleanup exercise in the financial sector last year which collapsed 9 local banks, 347 microfinance companies, 23 savings & loans and finance houses, as well as 53 fund management companies. As a result, thousands of Ghanaians have lost their source of livelihood, survival, lost families and brought job losses as well.
Ghanaians will be very delighted to be receiving payments of their lock-up capital. And if payments are made in full objectively credit should be given to the ruling government.