Collapsed banks: Govt’s figures on S&L funds are conflicting – CASLOC

Secretary to the Coalition of Affected Savings and Loans Customers (CASLOC), Ezekiel Annor Akagbo, has described figures released by government on the number of affected customers of savings and loans and their investments as conflicting.

This, he believes is a deliberate attempt to deny a whole number of customers their legitimate locked up investments.

Speaking to GhanaWeb, he expressed worry at the figures being peddled around by the stakeholders saying it is a source of confusion.

According to him, “initially they gave out some figures as well as the number of customers and monies needed to bail out are concerned. But it seems the figures they are coming out with, is not corresponding well at all. I can see a whole number of discrepancies in the figures they are peddling around at the moment and I think it is a deliberate attempt to deny our members their funds.”

He further indicated that making a comparative analysis of the data being given out by stakeholders, his outfit found the figures to be misleading.

“We get our figures from the authorities themselves. We tried comparing the previous figures to that of now. And when you check there figures there are whole lot of discrepancies.”

Government earlier on said all depositors of these affected Savings and Loans institutions will receive a 100% refund of their deposits since this was no fault of their own.

Government asked the receiver to expedite the validation and payment of depositors so that all depositors will receive their monies after validation, however, the situation has not been seen to be effective.

In January 2020, The Coalition of Affected Savings and Loans Customers (CASLOC) reiterated the readiness of its members to vote out the Akufo-Addo government in the 2020 polls for failing to address the plight of the about 3.3 million depositors of financial institutions whose licenses were revoked by the Bank of Ghana and other regulators.