All customers of failed banks will be paid their deposits – Buaben Asamoa

Customers of the failed banks who are yet to be paid their full deposits would receive their monies, Director of Communications of the New Patriotic Party (NPP), Yaw Buaben Asamoa, has assured.

He gave the assurance on TV3’s New Day show with Johnnie Hughes on Wednesday February 2.

“I believe, and I am certain that every customer will be paid their funds,” he said.

Recently, the Progressive People’s Party (PPP) accused the Governor of the Bank of Ghana (BoG), Dr Ernest Addison of not painting the real picture of the situation to President Nana Addo Dankwa Akufo-Addo that customers of the failed banks had been paid their deposits.

The PPP in a statement issued on Tuesday January 18, 2022 said not all customers of the banks and non-bank financial institutions have received their deposits.

“There are indisputable facts that we have taken time to validate. They include the following: Contrary to the impression given by the Governor of the Bank of Ghana, the Receivers and other officials, not all customers of the banks and non-bank financial institutions have received their deposits. Unfortunately, a huge lie has been told to President Akufo-Addo in this regard.

“The decision not to pay investments of BlackShield/Gold Coast customers until that company is liquidated does not hold water. The owners of banks and non-bank financial institutions have taken the Bank of Ghana and the Receivers to court to challenge the revocation of licenses. Yet, the customers are being paid. What is good for one is good for the other. Besides, by agreement the customers of fund management companies have been made to sign, they have become customers of a different fund manager approved by the Securities & Exchange Commission (SEC).

“The payments have been guaranteed to the customers per that agreement executed between the affected customers and the Amalgamated Fund managed by GCB Capital. In effect, the affected customers are no longer customers of Gold Coast/Blackshield, but they are customers of GCB Capital.

“The President, the Vice President, the Minister of Finance, the Minister of Works & Housing and Roads & Highways have all admitted publicly that indigenous Ghanaian contractors are owed significant sums of money. The Ministry of Finance & Economic Planning led by Mr. Ken Ofori-Atta has been selective in determining which contractors to pay and which ones not to pay.

” It has directed funds to financial institutions such as Fidelity Bank to pay contractors bypassing the original lenders. This has the potential of denying the original lenders funds due them and likely to cause huge judgements debts and financial loss to the state.”

Source: 3news.com