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23.07.2018 Business & Finance

Chaos Hits First Allied Savings & Loans Over Locked Up Cash

By CitiNewsRoom
Chaos Hits First Allied Savings & Loans Over Locked Up Cash
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Customers of First Allied Savings and Loans have been left stranded as they are unable to withdraw money from the company.

A visit to the Adabraka branch revealed that customers are given less than ten per cent of amounts they wanted to withdraw.

Some of them who spoke to Citi Business News said all efforts to withdraw money from the bank have proved futile.

One customer said managers offered to give her GHS 50 from the GHS10, 000 she wanted to withdraw.

“My supplier in Western Region who has an account with the bank asked me to deposit GHS10, 000 into his account so that he can use it to buy my produce and send to me for shipment. So I did that two weeks ago hope he could withdraw the money the same day, but for two weeks now we have been chasing this money, now they want to give me GHS100 from the 10,000,” she lamented.

Another customer also told Citi Business News that he was offered GHS50 today after several visits to the bank to withdraw GHS10, 500.

“I have been here more than five times since last week, for my money. Because I know they wouldn't give the amount I want, I asked them to give me GHS1, 000. But they said they will not get the GHS1, 000 unless GHS50. But I won't accept that, today if they don't give me the GHS1000, I will not go.”

Officials of the branch who wouldn't speak on record explained that they are unable to pay customers due to limited funds caused by panic withdrawal that has hit the company since last month.

They attributed the massive withdrawal to rumours that the company belonged to the embattled former GFA boss Kwasi Nyantakyi.

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