Customers of MyBank Financial Services petition Board of Directors to demand cash

- Customers of the defunct MyBank Financial Services have expressed their displeasure at decisions made by the company

- They mobilised themselves at the premises of the company to demand their investment deposits are returned

- According to them, all efforts to get answers via phone calls have been fruitless.

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Clients of the defunct MyBank Financial Services have besieged the premises of the company to demand their deposits.

The protesters, made up mostly of petty traders, small scale farmers, and pensioners, stated that they are disappointed in the managers of the company with respect to their actions.

They stated that they have petitioned the Board of Directors of the company for a refund of the funds but their efforts have yielded no results.

READ ALSO: Customers of defunct S&L customers raise concerns after payment in bonds

YEN.com.gh understands that the customers mobilised themselves at the premises of the company at Tamale, the capital of the Northern Region.

Per a report by citibusinessnews.com, they revealed they have been neglected since 2018 and, to date, there has been no mention of a payment plan.

They added that all efforts to reach management members via phone calls have been futile.

They further revealed that checks showed that the company, which has been operating for about five years now, is not recognised as a microfinance institution with the Bank of Ghana.

Reports suggest some of the clients are considering legal action against the company in order to retrieve their funds.

YEN.com.gh earlier reported that the receiver for 347 microfinance companies and 23 savings & loans companies and finance houses, Eric Nana Nipah, says there will be prosecutions relating to some claims made by depositors.

According to him, measures are in place to ensure the process starts in August 2020.

Nipah noted that, at present, claims amounting to about GHc5.4 billion have been settled.

READ ALSO: Vodafone Cash: Vodafone cancels charges on MoMo transfers to all networks

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Source: YEN.com.gh