Victim of Ghanaian banking crisis narrates her painful story

Victim of Ghanaian banking crisis narrates her painful story

Another victim of the financial sector crisis that has hit Ghana in recent months, Madam Akua Yeboah, a trader at the Kumasi Central Market, has shared her sad story about how her loss nearly led her to commit suicide.

Madam Yeboah was a customer of First Allied Savings and Loans. According to the hapless woman, her frustration stems from the fact that she has about GHC 120,000 locked up at First Allied.

Thepressradio reported that Madam Yeboah's money happens to be an accumulated contribution of market women belonging to a group called "Onuado Ladies Association".

As the leader for the group, it was agreed among members that the money should be kept in her care. The savings and loans company is so far finding it difficult to recoup the amount.

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"The money was hidden in my house for some few days after which I considered the risk involved and decided to open an account and deposit it at First Allied Savings and Loans Limited," Madam Yeboah said.

Madam Akua Yeboah reportedly broke into tears amid her narration. She said she has been contemplating suicide if it turns out she never gets the money back.

She received report that first Allied Savings and Loans limited was collapsing in late 2018,

Management of the financial institution refused withdrawals of funds for customers, obviously to conserve liquidity.

Madam Yeboah said since the news of the supposed collapse of First Allied broke out, she has tried everything possible to withdraw the money "...so that I will hand it over to respective members of the association and vindicate myself off the false embezzlement allegation peddled against me"

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She is under pressure from the members of her ladies' association to recoup the money. As a result of this, Madam Yeboah says she has been diagnosed with an extreme increment in her blood pressure.

There is no hope in sight although First Allied has issued numerous press statements saying they are working on giving back monies to customers.

Madam Akua Yeboah's story is one of many that have in the wake of banking crisis that have so far seen five banks go under government control.

Tens of thousands more have lost their jobs.

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