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The CEO of Consolidated Bank Ghana (CBG) has said his establishment has a smooth process for paying clients of defunct companies.
Daniel Wilson Addo that depositors who wish to withdraw their money will go through a smooth process when they visit any bank branch with their documents validated.
Mr. Addo confirmed that the accounts of all defunct microfinance, savings and loan, and finance house clients have been fully credited with the cash value of their estimated bonds and that the funds have already been disbursed into the accounts of these depositors.
“Depositors’ accounts have already been credited. Therefore, the full amount of money owed to each customer is available to them at any CBG branch, whether they come to the bank or not. This means that they can withdraw at any time if they wish.
“All they need to do is go to the bank in the first instance so that we can validate with a minimum check to make sure it is the same person. We assure you that it is a fluid process ”.
“CBG is not new to payments like these. We have even prepared for a stampede, however, it turned out that only a few clients entered for their money.
“This is proof of the hard work we have done over the last few years. I think these depositors know about CBG’s processes and services and how seamless and excellent we can execute payments so they don’t have to rush. “
Commenting on the discounts, Mr. Addo indicated that depositors who have received or owe Commercial Paper in partial satisfaction of their claims will now receive non-discounted cash payments for Commercial Paper they have received or are owed.
Additionally, depositors who have already discounted all or part of their Commercial Paper will receive a full cash refund of the discount they suffered.
Depositors of the collapsed institutions received the green light so that, as of Wednesday, September 16, 2020, they have full access to their funds.
This week, the government released a total of ¢ 3.56 billion to liquidate the remaining depositor of the 347 Microfinance companies, 23 Savings and Loans and Finance companies.
This follows the government’s announcement that the settlement of the original commercial paper, also known as a surety, will allow clients to receive the remainder of their claims in cash.
