Fatima Nyande is reported to have told a local reporter that termites have destroyed all her GHc 2,000 in the said hole she had dug purposely to serve as her ‘bank’ as financial institutions are not being truthful lately.

“I started saving the money in the dug hole at home after dubious financial companies absconded with my Gh¢4,000.00,” Fatima is quoted as saying.

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V/R: Poor widow hides her life savings under firewood, loses it to termites

Indeed, the emergence of some unscrupulous financial institutions and their collapse recently in Ghana has dampened the already shaky confidence of most Ghanaians in the banking and other financial institutions.

However, having weighed her unfortunate experience against saving in the banks, Fatima believes they are ‘necessary devils’, and hence she advised other unbanked Ghanaians to choose the bank over those archaic methods.

Citinewsroom.com reported that Fatima who supplies water to indigenes of the area to earn a living entreated the district assembly and the Electricity Company of Ghana to extend electricity to the area, so she can make ends meet.