No Show Yet Despite Receiver’s Promise – S&L Customers Vex

The Coalition of Affected Savings and Loans Customers (CASLOC) is angry that none of the over three million members of the group has retrieved their locked up cash despite the promises by the Receiver.

The Receiver of the collapsed savings and Loans and microfinance indicated on February 25, 2020 that about 1,300 depositors will receive messages to reclaim their monies.

However in an interview with Citi News, Spokesperson for the CASLOC, Iddrisu Mubarak says none of the members had received a message.

“CASLOC alone holds more than three million customers. And out of that, we have divided them under regions and every region has its head. So every morning, the regional head goes down, to check on platforms, telegrams and places to find out whether any of them have been paid or has received a text message or something.

“None of them has received a text message, call or e-mail. None of our members has received anything. We were all telling our customers to exercise patience. We told them it is a process and sometimes might take a longer period so they should all exercise patience so we can give the government ample time,” he aid.

Customers to be paid on Feb 24

The Receiver, Eric Nana Nipa had earlier confirmed to Citi News that the customers of the collapsed microfinance, savings and loans and finance houses will from Monday, February 24, begin to access their full locked-up funds.

This came after President Akufo-Addo, while delivering the 2020 State of the Nation Address in Parliament last week said the affected customers will begin receiving their locked up cash from the said date.

Customers to be paid by March

However in a new development, the Receiver has assured that all affected depositors will receive their locked up investments by end of March this year after payment processes started on Monday.

In an interview with Citi Business News, spokesperson for the receiver, Philomena Kuzoe, said since February 24, about 800 people have been notified to retrieve their locked up cash amounting to GH¢200 million from Consolidated Bank Ghana (CBG).

“So yesterday [Monday], we paid the social institutions made up of the churches, hospitals, schools, welfare associations who have their claims with these defunct microfinance and savings and loans institutions. We are expecting to finish by the end of March,” she said.

---citinewsroom