Members of the Locked-Up Investment Holders Forum have taken to the streets for the eleventh time, demanding the release of their trapped funds.
The group, made up of customers from distressed financial institutions like NDK Financial Services, expressed frustration over the Finance Minister‘s reluctance to ensure that the Bank of Ghana (BoG) disburses their locked-up funds.
Despite submitting petitions to the Finance Ministry, the group feels ignored, prompting them to renew their protests. Dr. Adu Anane Antwi, the forum’s convenor, stated that the lack of communication from the ministry has left them with no option but to demonstrate.
The investors called on the government to use the unallocated GH¢200 million from the GH¢4 billion set aside for the financial sector, including GH¢2.3 billion earmarked for NIB’s recapitalization, to settle their outstanding funds. They argued that paying these funds would allow the BoG to revoke the licenses of defunct finance houses and restore stability to the financial market.
Additionally, the locked-up investment holders urged a reduction in the GH¢2.3 billion allocated to NIB, citing the need to prioritize vulnerable pensioners and sick depositors amidst the country’s financial difficulties. The forum emphasized the importance of government intervention to rebuild investor confidence and ensure market stability.
