Locked-up Investment Holders Forum to picket at Finance Ministry in 2 weeks if there’s no positive response from Ministry
Locked-up Investment Holders Forum which is a forum for the protection of investments of persons who have invested in Finance Houses and Savings & Loans Companies licensed by the Bank of Ghana, has served notice to picket at the Ministry of Finance if they do not receive any positive response from the Ministry in the next two weeks.
According to the group, they have informed the Minister for Finance in their letter of 18th April 2024 of their intended move to demand the release of their locked plans.
The group staged a public protest on 27th March 2023 with a march to the Bank of Ghana and the Ministry of Finance to put pressure on the two institutions to work to get back their locked-up funds.
They had a meeting with the Governor of the Bank of Ghana, but could not get the Minister for Finance or any representative of the Minister for a meeting.
At their meeting with the Bank of Ghana, the Governor informed them that Bank of Ghana intends to revoke the licences of the insolvent Finance Houses and Savings & Loans Companies and will do so when the Ministry of Finance provides funds for the payment of the locked-up funds of investors as was done in the case of the revocation of the licences of some Specialised Deposit-taking Institutions in 2017/18.
In am interview with New York based Adinkra Radio, Convener of the Group, Dr. Adu Anane Antwi disclosed that on 28th March 2024, they sent a petition to the Minister for Finance appealing to the Minister to provide funds for the payment of locked-up funds of investors in distressed Finance Houses and Savings & Loans Companies to enable Bank of Ghana to revoke their licences and pay investors, in line with the Government’s commitment to protect depositors’ funds.
He added that on 18th April 2024, three weeks after submitting the petition to the Minister for Finance, and not receiving any response from the Minister, they sent a reminder to the Minister on their petition.
“We have informed the Minister for Finance in our letter of 18th April 2024 that if we do not receive any positive response from the Ministry on our petition in the next two (2) weeks, we shall be left with no other option than to begin picketing the Ministry of Finance to further press home our request.”
Source: Adinkraradio.com
