ADVERTISEMENT

Ghana's President, Akufo-Addo orders full payment of funds belonging to depositors of collapsed financial institutions

Ghana’s President, Nana Akufo-Addo has asked the necessary stakeholders responsible for the payment of the funds belonging to depositors of failed financial institutions to refund their money.

Ghana's President, Akufo-Addo orders full payment of funds belonging to depositors of collapsed financial institutions

While delivering his Christmas and New Year message, President Akuffo-Addo said the Ministry of Finance is to work hand-in-hand with the Bank of Ghana (BoG) to ensure a 100% payment of depositors of failed banks, microfinance, and savings and loan companies whose licenses have been revoked.

ADVERTISEMENT

He added that, the decision to sanitise the banking system was a painful one and that it was very necessary for such a measure to be put in place to safeguard the funds of 4.6 million depositors.

"We've had to take painful but necessary measures, to sanitise and save the banking system, a process which I know has brought discomfort to many a household."

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Top 10 African countries with the highest economic prospects for 2023

Top 10 African countries with the highest economic prospects for 2023

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

ADVERTISEMENT