Depositors of the collapsed Microfinance companies, Savings and Loans (S&L) and other financial institutions, will from today, September 16, have full access to their funds.
This follows the release of 3.5 billion cedis by Government to settle the remaining depositors claims.
The money will settle the claims of 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses.
Affected customers have been directed to visit any branch of the Consolidated Bank Ghana Limited to receive their monies through the new funding arrangement.
A statement by the Receiver, Eric Nana Nipah, indicated that customers who have either received or are due commercial paper in partial satisfaction of their claims, will receive cash payments at no discount for the bond they have already received.
Meanwhile, depositors who have already discounted all or part of their bond will now receive a full refund of the discount they have suffered in cash.
