The legitimate claims made to depositors of Savings & Loans and Micro Credit institutions whose funds were locked up due to the financial sector clean-up is at GH¢5.06 billion, according to a government official.
Out of this, GH¢2.11 billion in cash has so far been paid to depositors with about GH¢2.95 billion in zero-rated coupon bonds known as debt instruments have been issued.
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The Information Minister, Kojo Oppong Nkrumah, speaking at the meet-the-press series in Accra, last week, disclosed that, depositors are expected to receive payments after validation of claims by the end of May, 2020.
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“They want to conclude the final second level validation of GH¢340 million and make payment accordingly. They expect that by the end of May they should be done with that one,” he indicated.
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“There are some organizations whose books and records still have challenges and they are processing those for some investigations. And finally, they will issue a report to the Bank of Ghana on the depositor payment”, Oppong Nkrumah added.
Earlier, the Receiver for the collapsed Savings & Loans and Micro Credit institutions, Eric Nana Nipah said about 290,000 customers, representing 98 percent of individual depositors will be paid fully in cash, whilst the remaining 2 percent will receive their payments in cash and bonds.
By Adnan Adams Mohammed
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