Much shine was taken away from a sod-cutting ceremony for an interchange in the Western Region by Vice President Bawumia, when the ceremony was photo-bombed by aggrieved customers of Gold Coast Securities whose monies are locked up after the government collapsed the Fund Management company.
Amidst chanting and the brandishing of placards, the aggrieved customers made it clear that the infrastructure being initiated means nothing if their life savings cannot be accessed by them.
“Election 2020 is near!! Action now, Mr. President, Customers of Gold Coast say ‘No money, no vote,” one placard warned.
Others read, “Our monies are locked up for months, Gold Coast Securities, We need our monies;” “SEC don’t use liquidation to kill GCFM depositors.”
The demonstration forced the Vice President’s sod-cutting into an awkward, especially when it came to time for Dr. Mahamudu Bawumia to as usual claim that government has the welfare of Ghanaians at heart.
The aggrieved customers of the Gold Coast Securities have been restless after the Securities and Exchanges Commission (SEC) excluded them from a package that the government says it has put together to repay customers of banks and other financial institutions collapsed by the Akufo-Addo Administration as part of a clean-up of the country’s financial sector.
SEC has claimed that the Gold Coast Securities customers were excluded from the package because Gold Coast is in court with it over government’s collapse of the financial institution.
However, Gold Coast Securities, now, Black Shield, has shot back saying the SEC’s explanation is bunkum because there are other collapsed institutions such as UniBank, which are in court with the government over the collapse of their banks and yet their customers have been included in the government’s package.
A very public information war between the SEC and Black Shield (Gold Coast) has also revealed that the SEC may have tried to harvest the data of Gold Coast customers and when Management of the company refused, the SEC then decided to exclude the company’s customers from the package.