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ensure a 100% payment of depositors of failed banks, microfinance, and savings and loan companies whose licenses have been revoked.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