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Akufo-Addo’s claim of having paid 98% of microfinance depositors is false – Head of Association

The head of the Association of Affected Customers of Savings and Loans institution says the President’s claim that he has paid about 98% of depositors is “untrue”.

According to Ezekiel Annor, the Bank of Ghana had revealed that about 3.3 million people had been affected after the license of these financial institutions were revoked.

Speaking on Midday News on Joy FM, he stated that from his checks, only about 297,000, which is less than 10% of the total number, have received their monies.

In a radio conversation on Sunrise FM in Koforidua, President Akufo-Addo said 98% of depositors at the microfinance and savings and loans have paid.

He added that the rest would be paid by the end of August 2020.

However, Mr Ezekiel stated that many of the affected people after submitting their claims were told during the validation processes that their names could not be found in the system.


“We sense a deliberate attempt that about 87% of our people are going to be denied payments,” he told News anchor Emefa Apawu, Tuesday.

Meanwhile, Minority Leader in Parliament is demanding an audit of the payment of money to depositors of the collapsed financial institutions.

“They are simply not being transparent. We heard the president say that 96% of depositors have been paid an irony, why are the same depositors questioning it?” Haruna Iddrisu quizzed.

He explained that the audit will put to light whether the claims by the President are reliable.


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