Collapsed Savings and Loans Firms: Receiver Sends Warning To Loan Defaulters

The Receiver of microfinance and savings and loans companies who had their operating licenses revoked has sent out a warning to all borrowers and loan defaulters.

In a statement on Tuesday urged such persons to visit any of the maintained branches of these institutions for repayment of the loans immediately.”

Attached to the release were 23 branches, account numbers and mobile money numbers, which are also available on its web portal, ghreceiverships.com.

The Receiver further encouraged all defaulters to settle their outstanding obligations to the defunct companies through the respective MTN MoMo numbers and receivership bank accounts listed.

It followed with a warning that it “will pursue all recalcitrant defaulters through all available means as permitted by the Act including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers.”

“In this regard, the Receiver will soon publish the first list of recalcitrant defaulters and their respective addresses in the national dailies.” Find below the notice

NOTICE TO ALL BORROWERS AND LOAN DEFAULTERS

Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) (“the Act”), Bank of Ghana (“BoG”) on 31 May 2019 and 16 August 2019 revoked the operating licenses of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies respectively, and in accordance with Section 123(2) of the Act appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (“PwC”) as the Receiver for the purposes of winding down the affairs of these Companies.

Section 127 (3) of the Act mandates the Receiver to realise all assets of the resolved companies, including outstanding loans and advances, for the benefit of creditors.

Accordingly, the Receiver wishes to notify the general public especially person/persons/institutions who took loan facilities from these defunct companies to visit any of the maintained branches of these institutions for repayment of the loans immediately. (for a list of the maintained branches, please visit the Receiver's website: www.ghreceiverships.com)

Customers may settle their outstanding obligations to the defunct companies through the respective MTN MoMo numbers and/or receivership bank accounts listed on the adjacent tables. The Receiver would like to entreat all borrowers to cooperate with his authorised representatives/agents in this regard.

Borrowers are to note that, the Receiver will pursue all recalcitrant defaulters through all available means as permitted by the Act including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers. In this regard, the Receiver will soon publish the first list of recalcitrant defaulters and their respective addresses in the national dailies.

Please note that the working hours for the maintained branches of the defunct companies remain from 8:00am to 5:00pm, Mondays to Fridays.

For further information on the Loan Repayments, please call 024 243 9441/ 0550000966. You may also write to the;

The Receiver,

25 B Manet Towers

PMB CT42, Cantonments

Accra, Ghana

www.ghreceiverships.com

---citinewsroom