Akufo Addo Boasts of Paying 98% Locked Up Funds of Collapsed Microfinance Companies

President Akufo Addo has insisted that 98% of depositors of collapsed Microfinance and Savings and Loans Companies have received payments of their locked up funds.

According to him, the receiver [Eric Nana Nipah] and his team are working around the clock to pay the remaining two percent.

Speaking on a Koforidua based radio station the President noted, “As far as the microfinance and savings and loans institutions are concerned, 98 percent of their deposits have been paid; there is still a balance.”

He added, “I believe that Nipah [Receiver] has said that by the end of August all of them would have been paid.”

“In fact, the intervention of the Central Bank was to protect the savings of depositors because many of the banks that finally went into receivership were about to collapse”, he stressed.

Ahead of the December 7 polls, the opposition National Democratic Congress (NDC) flagbearer John Dramani Mahama has been promising to pay all customers with locked up funds in various collapsed financial institutions within his first year of Presidency should he be elected.

The governing Akufo Addo government have on the other-hand been calling out his bluff insisting government is already doing that.

Source: GhanaFeed.com