NPP’s govt’s u-turn on paying depositors shows how wicked they are - Inusah Fuseini

He said the sudden change of policy to pay customers of collapsed financial institutions with cash and not bonds as earlier proposed attest to that fact.

The NDC MP said this shows that the government treated the affected customers unfairly despite the several appeals they made.

The government he noted had told the customers it did not have the money to pay them in full hence it decided t pay them through a zero-interest bond over a 5-year-period.

"The NDC argued that this was not fair and yet, the government maintained its position and so, the NDC promised to pay the depositors their monies in full without delay. But suddenly, the government says it will pay the customers in full. This was captured in our manifesto, the NPP did not capture this in their manifesto. This shows some level of insensitivity and wickedness. It had to take the NDC for the government to pay the depositors.”

He said there is no doubt that the manifesto of the NDC has brought a change of heart in the ruling government.

"The NPP has seen the light and our manifesto is the reason why the NPP has decided to pay the depositors of these collapsed institutions”.

The receiver of the collapsed financial institutions, Eric Nana Nipa said all payments commenced on Tuesday.

Eric Nana Nipa Pulse Ghana

“GHS6.07 billion had already been released to some depositors of these resolved companies in cash and bonds, leaving an outstanding amount of GHS402 million to be paid to the remaining depositors”, a statement signed by him said.

“Of the GHS6.49 billion required to fully settle all valid depositor claims, about GHS3.56 billion of these claims were initially settled with Government-backed bonds.”