How Ghana’s Depositors of collapsed savings and loans companies can submit claims for payment by September 12

The Receiver of the collapsed savings and loans companies, Eric Nana Nipah has asked persons who have deposits with the companies to submit their claims within the next four weeks for payment.

The Bank of Ghana
  • Deadline for submission of claims is September 12 to enhance payments.
  • Creditors are also required to attach relevant supporting documents for payments.

This follows after the Bank of Ghana revoked the licenses of 23 Savings and Loans companies in the country. The move will be subject to validation for the scheduled period.

The statement alluded to a Creditor Administration process which comprises of the following;

  • Submission of Proof of Debt forms
  • Validating and agreeing to claims
  • Payments to Depositors.

Mr Nipah said the Proof of Debt forms can be obtained from his representatives at the branches of the S&Ls and Finance Houses where the Depositors and Creditors operated accounts.

The forms can also be obtained from the nearest affected Savings and Loans’ or Finance House’s office or from the Operations Secretariat, located at  

25B Manet Towers,

8th Floor, near Vodafone head office, 

Airport-City, Accra 

Hours of operation are from 8.30 am to 4.30pm each working day.

Again, the creditors will be required to attach relevant supporting documents such as copies of Deposit slips, Account statements, Investment certificates, and invoices with respect to goods and services supplied. A photocopy of a nationally recognized Photo ID such as a Passport, Driver’s license, Voter’s ID, National ID or notarized Power of Attorney will also suffice. This process is expected to be completed by September 12, 2019.

Following the validation which should last for about a month, Mr Nipah explained that he shall proceed with payments to the extent possible using funds provided by the government. Designated Consolidated Bank Ghana Limited branches which will be communicated to depositors.

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