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ensure a 100% payment of depositors of failed banks, microfinance, and savings and loan companies whose licenses have been revoked.

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."

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

From Millionaire to Hawker - How Muthee is rebuilding his life from scratch

From Millionaire to Hawker - How Muthee is rebuilding his life from scratch

Why do guys still masturbate when they have girlfriends?

Why do guys still masturbate when they have girlfriends?

Police uniform, weapon are ID - Mutyambai addresses Boniface Mwangi's trending clips

Police uniform, weapon are ID - Mutyambai addresses Boniface Mwangi's trending clips

Jalang'o announces his last day on Kiss 100 [Video]

Jalang'o announces his last day on Kiss 100 [Video]

3 foods that cause acne and 3 that don’t

3 foods that cause acne and 3 that don’t

If I rise, let me rise with other people - Crazy Kennar scoops 3 titles at the Pulse Influencer Awards

If I rise, let me rise with other people - Crazy Kennar scoops 3 titles at the Pulse Influencer Awards

Zuckerberg loses $6 billion hours after Facebook, WhatsApp, Instagram crashed

Zuckerberg loses $6 billion hours after Facebook, WhatsApp, Instagram crashed

Cooking for Drake, collaboration with Wizkid and other things Tems revealed in a Twitter Q&A

Cooking for Drake, collaboration with Wizkid and other things Tems revealed in a Twitter Q&A

I’m a father of Two - Willis Raburu’s humble request over his late daughter Adana

I’m a father of Two - Willis Raburu’s humble request over his late daughter Adana