President Nana Akufo-Addo has instructed the Ministry of Finance to disburse GH¢1.5 billion to customers affected by the recent banking sector clean-up.
This announcement was made by Finance Minister Dr. Mohammed Amin Adam during a UK Town Hall meeting over the weekend.
Dr. Adam explained that the funds would be released between now and October to alleviate the suffering of those impacted. He acknowledged that while the government should not be held responsible for individuals’ investment decisions, errors were made, and people lacked proper guidance, leading to significant hardship and even loss of life.
“Ideally, the government should not be held responsible for the investment decisions of individuals, but this government is so caring,” Dr. Adam stated. He added, “mistakes were made, and people were not well-informed. We know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.”
Highlighting the government’s commitment to support affected individuals, he said, “in the first place, we granted some bailout to all the affected, and I want to tell you again that the President has directed that we do another bailout. So, between now and October, we will release 1.5 billion Ghana Cedis to the affected people.”
