Banking crisis: Mahama will pay customers’ deposit in full – Sammy Gyamfi

The National Communications Director of the opposition National Democratic Congress Sammy Gyamfi says former President John Mahama will pay the locked-up funds of customers of the collapsed financial institutions in full if he wins the December polls.

Addressing the media at a press briefing in Accra Monday, Mr Gyamfi also noted the former President will work to restore indigenous businesses in the financial sector.

“His Excellency John Dramani Mahama is committed to fixing the mess that has been created by the mild administration of President Akufo-Addo in all sectors of the nation and in all facets of our lives. He is committed to delivering transformational leadership needed to create prosperity and wealth for all,” he noted.

He stressed: “As he has announced through his digital conversations with the nation in the last few months, [former] President Mahama when elected shall pay all customers of the collapsed financial institutions whose monies are locked up in full and restore indigenous Ghanaian participation in the financial sector”.

Meanwhile, former Finance Minister, Seth Tekper says government cannot continue to assume it is impossible to pay back depositors their locked up capital after the collapse of some 347 micro-finance companies, 39 microcredit companies, 23 savings and loans and finance house companies.

According to the former Finance Minister, there is no excuse for leaving those affected frustrated resulting in the renewed agitations because the Akufo-Addo Administration can raise funds through the Energy Sector Levy Act (ESLA) fund.

“If we are talking about the payment of GHS5 billion, GHS10 billion or even up to GHS 15 billion or even GHS20 billion, there should be enough money in the ESLA fund to have paid the depositors their full amount.”

Customers of failed Savings & Loans, Microfinance Institutions are accusing the President Akufo-Addo of false hope after a promise last December, which was affirmed in his State of the Nation Address, SONA in February that he has directed Finance Minister, Ken Ofori Atta to release a whopping 15.6 billion cedis for full payment of all those affected.

Source: Starr FM