The Receiver appointed by the Bank of Ghana for the insolvent and dormant microfinance companies, Mr. Eric Nana Nipah, will today [Friday] start paying depositors of the 347 insolvent microfinance companies.
The payment will capture those whose claims have been validated and agreed.
This follows the release of funds by Government of Ghana (GoG) to the Receiver.
Personnel involving over 420 people have been deployed across the country to validate and agree claims and to start making payments to depositors whose claims have been validated and agreed, without delay.
According to a statement issued by the Receiver, payments will take place at designated branches of CBG, following notifications to these Depositors from the office of the Receiver.
The statement further noted that validated claims and persons involved would be called by representatives of the Receiver confirming the amounts due them.
They would also be asked to go designated branches of CBG for their payments.
Depositors will be required to provide valid ID documentation. These can either be passports, NHIS cards, Voters ID and Drivers Licenses, the statement added.
Other creditors according to the statement will be paid their claims depending on the quantum and timing of asset realisations in the receivership of the affected microfinance companies in accordance with the order of ranking provided in the relevant sections of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930.
Mr. Nipah has therefore called on all depositors of the Microfinance companies to exercise patience as the Government has made available funds to pay each and every depositor whose claim(s) have been validated and agreed, to the extent possible.