ABOSSEY OKAI SPARE PARTS DEALERS DEMAND GOV’T RELEASE LOCKED-UP FUNDS

The leadership of the association claims that, prior to their liquidation, more than five million Cedis (Ghanaian currency) were put in these financial institutions by roughly 500 of its members.

Takyi Addo, the association’s head of communications, highlighted that their members are just after the major amount they had saved in these institutions during a news conference held in Abossey Okai, a busy commercial area in Accra.

The government has until the end of September to satisfy the association’s concerns and return the withheld monies. They have stated that the leadership and the entire membership will be forced to think about their next course of action if their demand is not granted by this deadline.

In Ghana, the subject of locked-up monies in failed financial institutions has received substantial attention, with a number of organizations and people looking for answers and compensation for their investments that are now unavailable as a result of the failure of these companies.