Finance Minister, Ken Ofori Atta

Ghanaians in the diaspora who have their monies locked up with the defunct First Allied Savings and Loans Ltd are demanding that the government with immediate effect migrate all the affected customers to the Consolidated Bank of Ghana (CBG) since it has started making payment through that bank.

According to the aggrieved customers who are members of the group known as the Coalition of Affected Savings and Loans Customers(CASLOC), they are not the least happy with the way the receiver is making payment to hungry customers who have suffered greatly as a result of the collapse of the finance house.

President Akufo-Addo in his Christmas Day address to Ghanaians assured customers of the collapsed banks and microfinance institutions that their investments will be paid in full.

According to him, the Finance Ministry and the Central Bank are working together to disburse the funds.

“Thus far, the Ministry of Finance and the Bank of Ghana have worked together to guarantee payments of 100% of deposits of customers of the failed banks which is being done. I have directed the Ministry of Finance to work with the Bank of Ghana to ensure that same applies to customers of microfinance and Savings and Loans Companies whose licenses have been revoked.”

But the customers say even if the full amount is not ready now, things should be made in such a way that they can check their balances and print our bank statements of their full investment.

“After the 20,000gh cap, we should be able to check our account transactions. The President himself should also try to monitor the payment process because it the way it’s being done is very very bad.” We the customers don’t need promises again, we want to see action. Many of us have huge sums of monies locked up with the collapsed First Allied Savings and Loans Ltd. Personally, I have over GHC400,000 cedis locked up. The government has encouraged us to come home and invest and because we want the good of our country we also came and invested our hard-earned monies we really toiled to make in the Ghanaian economy. We can’t look on for our monies to go waste. We need every pesewa of our savings and the time for payment is now. Joseph Amankwa(STOPA) Leader of the group said in an interview with

The group which is made up of over 700 customers based in Europe say they have several millions of cedis locked up with the collapsed financial firm, a worrying situation which has made life very uncomfortable for them.

The group has expressed its gratitude to President Akufo Addo for resolving to pay them their full investment in his Christmas message.