Give us our money else we’ll storm Jubilee House – Customers of collapsed banks

Aggrieved customers of the collapsed banks have served notice they will besiege the Jubilee House if government does not ensure the payment of their money in two weeks.

File photo: Customers of Gold Coast demonstrating for their cash

The group in a statement on Thursday, June 18, 2020 said government has defaulted in the numerous assurances to get them the held up funds.

“We want to use this medium to serve a two weeks ultimatum to Government, to initiate alternative plans to pay all depositors our monies as soon as possible! Certainly, we cannot wait for 5 years to be short-changed when the value of our deposits will lose value because no interest is accruing on it.

“We want Government to understand that we didn’t force them to collapse any bank or financial institution, they took the decision on their own perhaps borne out of cruelty, witchcraft and greed.

“If after two weeks we don’t receive any favourable revised payment plan from Government to refund and pay us all our monies, we shall besiege the Jubilee House and “Occupy” it till they pay us our money. We shall not leave the Jubilee House until every single one of us is paid,” the statement said.

It added: “Considering that most of these banks that were taken down were indigenous banks, owned and operated by Ghanaians, we believe it was most cruel on the part of this and any Government to do this to its own people and then advocate “local content” and “private sector involvement as the engine of economic growth.” This also flies against Government’s own “Ghana Beyond Aid” agenda.

“After cruelly collapsing these banks and financial institutions, thereby rendering our children jobless, and denying our SMEs (Small Medium Enterprises) and Micro-businesses access to credit because these indigenous banks and locally owned financial institutions were and are the only source of financing for SMEs, Microbusinesses, traders etc. in the country.

“So in one stroke Government by collapsing local banks and financial institutions thus forcing the owners of these banks and financial institutions to lose their capital investments, has also collapsed many SMEs, Microbusinesses, and Ghanaian owned businesses who depended on these banks and financial institutions for financing and as a result many local businesses have folded up or wound their businesses for lack of credit financing and working capital finance to support and keep their businesses operating and afloat”.


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