Locked-up Investment Holders demand government action to retrieve funds

Members of the Locked-up Investment Holders Forum have taken to the streets demanding the release of their locked-up investments.

Members of the forum, consisting of individuals who invested in Finance Houses and Savings & Loans Companies licensed by the Bank of Ghana, are facing financial difficulties as they struggle to access their investments.

During a protest held on Wednesday, May 15, 2024, participants voiced their frustration, highlighting the prolonged period of financial strain.

One protester lamented, “For about 5 years, nothing has come into my account. I don’t know whether it is a crime to invest your money. We are here for the Ministry of Finance to tell us something.”

Another protester echoed similar sentiments, stating, “It’s been four to five years, you cannot access your funds not even the interest nor the principal. Everything is totally locked up. The saddest part of the story is these institutions are still operating. The government needs to revoke their licenses and ensure they pay us our monies.”

The demonstration aims to exert pressure on the Ministry of Finance to allocate funds for the Bank of Ghana to intervene by revoking the licenses of insolvent finance houses and savings and loans companies, thereby facilitating the repayment of depositors’ funds.

As the protesters demand resolution, the government faces mounting pressure to provide a viable solution to alleviate the hardships endured by affected investors.

By Noble Crosby Annan/3news

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