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Customers of defunct banks to start receiving payment on Monday

Customers of the defunct microfinance, savings and loans to start receiving their locked-up funds on February 24, 2020.

H.E Nana Addo Dankwa Akufo-Addo who disclosed this on the floor of parliament during his presentation of the 2020 state of the nation address on Thursday said, 5bn cedis payment has already been given to the receiver to make a payment on Monday in addition to the already 13BN cedis paid to these customers.

“I am informed that the Receiver of the Savings and Loans and the Microfinance institutions will on Monday 24th February 2020, begin making payments to their customers, with these monies totalling ¢5 billion being in addition to the ¢13 billion being paid to the customers of the failed banks”. The president said.

“I will like to repeat that all depositors of the savings and loans and Microfinance institutions including DKM which collapsed in 2015, will receive 100% of their deposits once the validation exercise is concluded,” President Nana Addo stressed.

Story by: Isaac Otoo.

About Isaac Otoo

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