If Not A Run-Off, We’ll Send Akufo-Addo Into Opposition – Aggrieved Customers Threaten

Customers of defunct Gold Coast Fund Management Limited have threatened to cause the December 7 elections into a run-off, and worst of it, send President Nana Addo Dankwa Akufo-Addo into opposition if their locked up funds are not paid before the elections. The group argues that their numbers [over 800,000] together with their dependents will vote massively against Nana Addo.

Addressing colleague customers in Takoradi, the Spokesperson for the Aggrieved Customers of Gold Coast Fund Management, Charles Nyame charged members to support their cause so they could get the elections into the run-off and thus grant them more time to get government pay their monies in time.

He assessed that the schedule assigned to the repayment of their deposts, by the Security and Exchange Commission (SEC) is tedious and fraustrating.

“We want them to look into the payment procedure. It is too cumbersome and laborious. It takes 12 to 14 days before a customer could secure payment.

“We want them to use the same procedure they employed for the savings and loans, and microfinance institutions. Immediately the text messages comes it details you the specific bank, amount due you, and all that. That is what we want.”

Mr. Nyame added that the threshold for partial bailout  package is not inclusive, given that the investment portfolios of the fund management company is very much diverse. He noted that over 20,000 customers of the company have deposits beyond half a million Ghana Cedis and as such it will be a discriminatory on the part of government to use the GHC50,000 cap as a generic payment threshold.

He suggested that SEC defines a unique payment scheme for suc customers.