He said over 96 percent of such customers have been paid in full by the Akufo-Addo government.
ADVERTISEMENT
Gov’t has fully paid majority of customers of collapsed banks - Dep. Finance Minister
Charles Adu Boahen, a Deputy Minister of Finance has disclosed that majority of customers of collapsed banks have received their deposits.
Deputy Finance Minister, Charles Adu-Boahene,
Recommended articles
![10 African countries with the lowest inflation rates in 2024 [Getty Images]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "10 African countries with the lowest inflation rates in 2024 [Getty Images]")
Mr Charles Adu Boahen disclosed that 20% of the funds were paid in cash while 80% was paid through bond issues.
“The bonds were structured to pay out over four years,” Mr Adu Boahen said on the floor of parliament during the debate on the Mid-year Budget Review in Parliament on Tuesday, July 28, 2020.
His revelations follow a promise by former President John Mahama to pay depositors locked-up monies within a year if elected to once again assume the helm of the country's affairs in the December 2020 presidential polls.
ADVERTISEMENT
Speaking at an event in the UPSA auditorium to outdoor his running mate, Prof Jane Naana Opoku-Agyemang, Mr Mahama said the next National Democratic Congress (NDC) government will not put up any long-term payment plans that will further worsen the living conditions of the victims of the collapsed institutions.
However, according to Mr Boahen, the claim that funds are still locked-up are untrue, stressing that less than 4% of these monies remain unpaid.
Deputy Finance Minister, Charles Adu Boahen
Pulse Ghana
The Deputy Finance Minister said the Nana Akufo-Addo government has set aside GH¢3.1 billion for such payments.
He said the rest of the payments will be done when the court grants the receiver the right to liquidate the assets of the defunct financial institutions.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Fuel prices expected to stay below GH¢18 - CBOD assures consumers
Rebecca Osam weighs in: Idea vs. Capital - Which holds the key to business success?
10 African countries with the lowest inflation rates in 2024
Towering Heat: Exploring the efficiency of vertical radiators in heating large rooms
Anansi Green Energy to deliver green electricity to Ghanaians through a new renewable energy platform
Ghana will record single-digit inflation rate of 8% in 2025 — IMF predicts
Riding the wave of Bitcoin innovation this halving season
Where are the 5 wealthiest cities in Africa located?
