Thursday, June 30, 2022

Tamale ManCapital customers up in arms against management

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Some disgruntled customers of ManCapital Partners, Tamale branch are up in arms against management of the bank for failing on its promises to pay customers their savings, investments and other entitlements due them without explanation.
They say, complaints have already been lodged to the Bank of Ghana, Securities and Exchanges Commission (SEC) and the Economic and Organized Crime Office (EOCO) but nothing has been done since the third quarter of 2017.
At a press briefing in Tamale, the Convener of the group,  Kwaku Adu Gyamfi,  appealed  to the office of the President, and the Economic Management Team to swiftly intervene to save the situation. The group is however giving the Securities and Exchange Commission up to Friday September 7, 2018 to publish a credible road map towards the resolution of the situation if not, it will resort to other legal but unpalatable options.
The statement said customers before investing with ManCapital had cross checked and were satisfied with the documentation and subsequently relied on SEC”s competence since the bank had been duly permitted by appropriate quarters particularly the SEC to carry out such business.
It however, said a statement from SEC on May 8th 2018, warning potential customers to stay off the bank and the bank closing its offices to customers months before SEC’s statement, put customers at a fix.
The statement therefore said it is not convinced SEC and EOCO are interested to pursue the matter adding that the Police CID is not independent enough to conduct full scale investigations since the Director General of the CID herself was a board member of the bank and only resigned a few months ago at the time the institution had already closed its offices.
It further noted that having realized the CEO of the bank has no intention to pay off the hundreds of its customers, it is calling on appropriate quarters to liquidate all assets and related businesses of the CEO to pay off their entitlements since those monies represent families’ life savings and livelihoods.

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