We’ll vote against NPP- Customers of collapsed financial institution

Members of the Coalition of Affected Savings and Loans Customers (CASLOC) have issued a strong ultimatum to the government, demanding the release of their locked-up funds.

At a news conference in Kumasi on Monday, November 25, 2024,  the coalition, which includes depositors from 23 collapsed savings and loan companies, 347 microfinance institutions, and 39 microcredit institutions, revealed that over 500,000 members are still awaiting the return of their funds.

Between 2019 and 2020, the government, through the Receiver, reimbursed over 2 million depositors, with many receiving their payments ahead of the 2020 general elections. However, CASLOC claimed  that more than 500,000 members were yet to receive their funds.

The group asserted  that payments stopped immediately after the 2020 elections, leaving a large number of depositors without recourse. They have rejected the government’s repeated claims that all affected customers have been reimbursed, calling these assertions false.

The affected customers have given the government a one-week deadline to address their demands. If no action is taken, they warned  they will mobilize their families and communities to vote against the New Patriotic Party in the upcoming December 7 elections.

Ezekiel Annor Akagbo, the group’s secretary, dismissed claims by government communicators that all affected customers have been paid.

“We are calling upon the government to instruct the receiver to release whatever fund is left to the receiver to use it to pay the rest of us. Because anytime the government is talking on campaign platforms or wherever what we hear and what they have been saying is that everybody has been paid. But look, those of us standing here have not received anything.

“We have our members cut across the entire 16 regions of Ghana. Mind you, the number of institutions that collapsed was over 300, and the customers were over 3.3 million. And those that have been paid are a little over 2 million.

“And those left are over 500,000. So we are giving the government a one-week ultimatum that by the end of this week if we don’t receive our payments, we are going to vote against the government.”