Angry clients of First Allied Savings and Loans storm office; demand deposits from company
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Angry clients of First Allied Savings and Loans storm office; demand deposits from company

- Some customers of the now defunct First Allied Savings and Loans company have demanded a release of their deposits

- One of them, Frank Aboagye, claims he has gone through the process of validation but is yet to receive his deposits

- The Receiver stated that the delay in the submission of data by customers delayed payments

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YEN.com.gh has learned that angry customers of the now defunct First Allied Savings and Loans Ltd. company have besieged the former office of the company to demand their locked up funds.

Information available shows the agitated customers mobilised themselves at the Kojo Thomson Road branch of the Receiver’s payment centre.

One of the clients, Frank Aboagye, reportedly stated that he has gone through the entire process of validation but is yet to receive his money.

Angry clients of First Allied Savings & Loans storm office; demand deposits from company

The Receiver, Eric Nana Nipah Source: kasapafmonline.com
Source: UGC

READ ALSO: Clients of MyBank Financial Services petition Board of Directors to demand cash

However, according to Frank Aboagye, the Receiver continues to give the impression that most of the depositors have been paid.

A report by citibusinessnews.com shows that another client, Halimatu Salifu, revealed she has also been facing challenges in recent times.

She stated that “it’s been hard. In fact, this is my mat. I came here today to sleep here until I get my money. I have been ejected from my room; I cannot feed my family; I’m suffering.”

The Receiver of the microfinance and savings and loans company, Eric Nana Nipah, has indicated that there were some challenges with respect to the acquisition of data of customers. The delay reportedly extended the validation process of some customers of some defunct companies.

In other news, some customers of the defunct First Allied Savings and Loans Ltd. company have raised concerns about the mode of payment by the Receiver, Eric Nana Nipah, via the Consolidated Bank of Ghana (CBG).

Cases of miscommunication and surprises were recorded when some customers, who had received text messages to visit the bank on Thursday, February 27, 2020, were informed that their monies would be paid in bonds.

The customers claimed that they were informed those who had funds beyond GHc70,000 locked up would receive GHc50,000 in cash and the rest in 5-year-bonds.

READ ALSO: Banks to promote economic recovery by financing viable projects

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Source: Yen

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