Ghana orders payments to failed banks’ depositors
GHANA’S President, nana Akufo-addo has asked the necessary stakeholders responsible for the payment of the funds belonging to depositors of failed financial institutions to refund their money, www.pulse.ng reported.
While delivering his Christmas and new Year message, Akuffo-addo said the Ministry of Finance was to work handin-hand with the Bank of Ghana, to ensure a 100 per cent payment of depositors of failed banks, microfinance, and savings and loan companies whose licenses had been revoked.
He added that, the decision to sanitise the banking system was a painful one and that it was very necessary for such a measure to be put in place to safeguard the funds of 4.6 million depositors.
“We have had to take painful but necessary measures, to sanitise and save the banking system, a process which I know has brought discomfort to many a household.”