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Customers of the 347 microfinance institutions whose licences were revoked recently by the Bank of Ghana, will start receiving their locked-up funds today, Friday, 7 June 2019.

The Receiver of the MFIs, Mr Eric Nana Nipah, will begin the payments following the release of funds for that purpose by the government.

A statement from the Receiver said 420 personnel have been deployed across the country to validate and approve the customers’ claims and start making payments without delay.

“Depositors whose claims have been validated and agreed will receive phone calls from the Receiver’s representatives, confirming the amounts due to them, and directing them to the designated CBG branches for the processing and payment of their claims to the extent possible,” the statement said.

All the depositors are required to go along with their valid IDs such as passport, NHIS card, Voter ID card or drivers licence.

“In accordance with the order of ranking provided in the relevant sections of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930, all other creditors will be paid their claims depending on the quantum and timing of asset realisations in the receivership of the affected microfinance companies,” the statement said.

The Receiver has also pleaded with the depositors of the defunct microfinance companies to exercise patience, since the government has made available the necessary funds to pay each and every depositor whose claim(s) has/have been validated and agreed, to the extent possible.

Source: classfmonline

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