The Bank of Ghana has assured customers of the 23 finance houses and savings and loans companies recently shut down of not loosing their investments
The Central Bank says it has provided funds to ensure that the Receiver of the financial entities, whose licenses have been revoked, will pay the affected customers.
The BoG however indicated that the Receiver for affected financial institutions, Eric Nipah will “in due course “announce when and where the payments to the depositors will be made.”
BREAKING: License of 23 financial institutions revoked; check the list
The Bank of Ghana on Friday, August 16 announced the revocation of licenses of 23 Savings and Loans Companies and Finance Houses because they were highly insolvent.
The Central Bank said despite the grace period it gave the affected institutions and their stakeholders to recapitalize, they were unable to get their institutions back on their feet hence the decision.
