The Receiver of the 347 defunct microfinance companies, as well as 23 savings and loans companies and financial houses, Eric Nana Nipa has served notice of readiness to pay off the locked up funds of the customers of all of these collapsed companies.
According to Mr. Nipah, a total of 352,000 claims will be fully paid by way of cash while the remaining 8,000 claims, will be cleared by way of bonds only.
Already, he says, final
payments are ongoing as government has made available, cash and bonds totaling
¢5 billion to fully settle outstanding depositor claims of these
institutions as well as of the 39 Micro Credit institutions in official
“As part of payment modalities, CBG will open new accounts for all depositors whose claims have been validated and agreed in the receiverships of the above companies.”
As part of the arrangement, SMS messages will be sent out from the Receiver to depositors due for payment. Such depositirs will be made to provide account numbers and cash amounts due them, which they can then withdraw.
But thye depositors are to know that the receiver, will only sttle claims that have been validated.