“Kwesi Nyantakyi” causes panic withdrawals at Savings & Loans Company

“Kwesi Nyantakyi” causes panic withdrawals at Savings & Loans Company

- Management of First Allied Savings and Loans Company has expressed worry over recent panic withdrawals

- According to the management, the panic withdrawals is because people are alleging that the company has a shareholder by name Kwesi Nyantakyi

- The management of the financial institution has since clarified that there is no shareholder by that name

There have been panic withdrawals at First Allied Savings and Loans Company following reports that a shareholder by the name Nyantakyi is set to take over the company.

Management of the savings and loans company has been concerned by the panic withdrawals, explaining that it all started after Anas Aremeyaw Anas’ exposé.

In an investigative piece that tackled corruption in Ghana football, the ‘Number 12’ exposé captured over 77 football officials and referees involved in alleged corrupt acts and misconduct.

“Kwesi Nyantakyi” causes panic withdrawals at Savings & Loans Company

Kwesi Nyantakyi is the former president of the Ghana Football Association. Source: Supplied

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Among them was former Ghana Football Association (GFA) president Kwesi Nyantakyi, who resigned from his post after the premiere of the documentary.

Management of First Allied Savings and Loans company believe the alleged shareholder’s name has been mistaken for former GFA president, Kwesi Nyantakyi’s.

We realized a lot of people were coming into our branches to withdraw which was much more than our liquidity plan. So after about a week, we realized that we had shot through the roof with withdrawals. That was just around the time we got to know that there is news in town that we have one share holder called Nyantakyi and that government is looking to lay hold of his assets,”a Management representative of First Allied Savings and Loans, Yaw Antwi told Citi Business News.

People had acted on that information and thronged into the banking hall to take their money. So it was then we realized that it was not just a normal withdrawal but some false information that is going on,” he said.

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He explained that the case of mistaken identity has really affected the company, whiles clarifying that there is no shareholder by the name Nyantakyi.

He called on customers not to rush in withdrawing their monies, adding that their funds are safe and secured.

We don’t have any shareholder by name Nyantakyi so all our customers should be calm,” he assured.

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