June 12, 2024
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Finance Ministry getting ready to pay customers of liquidated financial institutions – Dr. Bawumia

Vice President, Dr. Mahamudu Bawumia says the Ministry of Finance is making arrangements to reimburse clients of companies liquidated by the Securities and Exchange Commission (SEC) during the financial sector clean-up exercise.

The move, according to Dr. Bawumia, is aimed at bringing relief to affected investors while promoting transparency and accountability within the financial market.

Addressing professional bodies in Kumasi as part of his tour to the Ashanti Region, Dr. Bawumia emphasized the government’s unwavering dedication to ensuring investor protection.

“It looks like the Minister of Finance is looking forward to making some payment to customers of the liquidated companies,” he stressed.

He indicated that several engagements have been made with affected customers to compensate them.

“When it comes to Gold Coast Securities and others, it is something on our agenda and I believe that the Ministry of Finance will look at it. We have engaged affected customers and we look forward to the payments”.

Dr. Bawumia said although the government is not responsible for making such payments, it will initiate payment out of sympathy to the unfortunate investors affected by the clean-up.

“Technically, government is not responsible but out of empathy and sympathy for the people who invested in some of these institutions, the minister will make some of these payments”.

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