All depositors of collapsed Microfinance, S&Ls to be paid by end of July – Receiver

The Receiver of the collapsed microfinance companies, savings and loans, and finance houses, Eric Nana Nipah has given an assurance that all affected depositors would be paid by the end of July this year.

He gave the assurance when he spoke with Accra based Citi Fm.

He told the station that the valid claims s far is estimated at GHS 5.4 billion.

According to him, about 96% of those who are owed, have already been paid.

“For depositors, we have come a very long way and I have been able to determine that the depositor base in the three receiverships is in the region of GHS 5.4 billion by value of valid depositor claims…and out of that, I have been able to pay close to 96% of these claims,” he said.

He disclosed that 98% of the claims will be paid in cash while the remaining two percent will be paid through a combination of cash and bond.

“I am on course to fully pay 98% of all depositor claims by way of cash…The two per cent that remains is being paid through a combination of cash and commercial paper which we commonly refer to as bonds…Through the very effective and robust validation mechanism that I have put in place, I have been able to save the nation close to a billion cedis by way of robust and resilient validation processes,” he added.


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