First Allied undergoing some restructuring due to new investors-PRO

The Public Relations Officer for First Allied Company, Kwaku Yeboah, has disclosed on Rainbow Radio 87.5Fm that, the company was undergoing restructuring due to the the arrival of some new investors who have expressed interest in the company.

In an interview with Kwabena Agyapong on Frontline, he said, I may not be able to disclose certain details but as I speak, the company is no longer on its own. That is why we have remained silent for sometime.

He explained that the company has taken steps to give the company a facelift and that has accounted for some of the challenges customers have gone through.

He gave the strongest assurance customers would soon have the opportunity to have access to their investments and deposits after the restructuring and transformation.

According to him, all the previously closed branches would be re-opened for operations by March 2019.

Kwaku Yeboah said all the needed documents have been signed and same handed over to the appropriate authorities to pave way for the transformational agenda to be implemented.

He however failed to disclose whether customers were going to retrieve their deposits and investments when the company starts operations in March.

Meanwhile, some aggrieved have given government a 10-day ultimatum to intervene and help them retrieve their deposits or they will hit the streets.

The customers have also threatened to seize all properties belonging to the company across the country if their demands are not met.

Speaking to Kwabena Agyapong on Rainbow Radio 87.5Fm, some of the customers said they are unable to retrieve their locked up cash and this has led to a number of challenges for them including the death of some customers.

Customers from the Brong Ahafo, Eastern, Western, Northern, Greater Accra and Ashanti Regions addressed a press conference in Kumasi on Tuesday, 26 February 2019, and indicated that their deposits and investments have been locked up at the financial institution for the past nine months.

Chairman for the aggrieved customers, Kofi Sarpong, addressing the press conference, said petitions have been sent to the Ministry of Finance, Bank of Ghana (BoG), the Asantehene Otumfuo Osei Tutu II, Peace Council and the government among other necessary authorities but have not yielded any results.


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