Prime News Ghana

Collapsed microfinance companies : Receiver to start paying depositors from today

By Justice Kofi Bimpeh
Eric Nana Nipah
Eric Nana Nipah
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Receiver for the 347 collapsed microfinance companies, Eric Nana Nipah, will today Friday, June 7 start paying depositors of the companies.

A statement sanctioned by the Receiver, however, clarified that only depositors whose claims have been validated and agreed will be paid.

The move follows the release of funds by the government to the Receiver.

“The Receiver has deployed over 420 personnel across the country to validate and agree to claims and to start making payments to depositors whose claims have been validated and agreed, without delay.

“Payments to depositors will be made at designated branches of CBG, following notifications to these Depositors from the office of the Receiver,” the statement said.

Depositors whose claims have been validated and agreed will also receive phone calls from the Receiver’s representatives confirming the amounts due to them, and directing them to the designated CBG branches for the processing and payment of their claims to the extent possible.

Depositors will be required to provide valid ID documentation.

These can either be passports, NHIS cards, Voters ID and Drivers Licenses.

 In accordance with the order of ranking provided in the relevant sections of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930, all other Creditors will be paid their claims depending on the quantum and timing of asset realisations in the receivership of the affected microfinance companies.

Mr Nipah has therefore called on all depositors of the Microfinance companies to exercise patience as the government has made available funds to pay each and every depositor whose claim(s) have been validated and agreed, to the extent possible.