Mr Nipah early on the receivership process announced that depositors with validated claims below GH¢10,000 will be paid their funds.
However, a statement issued by the Spokesperson for the Receiver, Philomena Kuzoe, said the GH¢10,000 ceiling placed on payments has now been adjusted upwards to allow customers to have access to more of their locked-up funds.
The Bank of Ghana (BoG) in May revoked the license of insolvent microfinance and microcredit companies as part of the banking sector clean-up.
The Central Bank, therefore, appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers (Ghana) Limited (“PwC”) as Receiver for the purpose of winding down the affairs of the collapsed Savings and Loans and Finance Houses. Read Full Story
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