Locked-Up Investment Holders To Picket Finance Ministry On May 15

Locked-Up Investment Holders To Picket Finance Ministry On May 15

  • The Locked-up Investment Holders Forum have stated plans to stage a protest at the Ministry of Finance on Wednesday, May 15
  • The forum's convenor says the protest is to pressure the government to close down some financial institutions and release locked-up depositors fund
  • The convenor, Dr Adu Antwi, says despite several calls to the government, their pleas have fallen on deaf ears, hence the protest

The Locked-up Investment Holders Forum intends to stage a protest at the Ministry of Finance on Wednesday, May 15.

The forum's convener, Dr Adu Anane Antwi, said the protest is to pressure the government to accede to their demands by allocating funds to the Bank of Ghana to revoke the licenses of insolvent financial institutions and pay depositors their funds.

Locked-Up Investment Holders To Picket Finance Ministry On May 15
The investment holders say they want their funds retrieved
Source: Getty Images

This follows previous efforts by depositors to retrieve their locked-up funds from these institutions, but to no avail.

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In a May 13 statement, the forum noted that their previous attempts to get the government to help them had also failed.

The forum stated that despite staging a public protest and submitting a petition to the Finance minister in March and April, the government has paid them deaf ears.

Dr Adu Antwi said the government’s inaction was troubling as the situation demands urgent attention.

He argued that the locked-up funds were integral to many people's livelihoods, and it was unfortunate that the government was neglecting them in this manner.

To remind the government of their plight, Dr Adu Antwi says the forum will picket the Finance Ministry every Wednesday from 9 a.m. to 12 p.m.

Commencing tomorrow, May 15, the convenor said protestors would march from NDK Financial Services to the Ministry and picket at the premises till 12 at noon.

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According to Dr Adu Antwi, the pickets will continue every Wednesday till their demands are met.

Akufo-Addo comes under fire for saying all bondholders have been paid

YEN.com.gh reported President Akufo-Addo has been criticized for saying the government has paid all debtors under the domestic debt exchange.

Delivering his State of the Nation Address on Tuesday, February 27, on the floor of Parliament, Akufo-Addo stated that following a successful exchange of some GH¢203 billion worth of bonds, the government on August 22, 2023, successfully paid the first coupon of GH¢2,369.67 million on the new bonds.

He revealed that the government further paid GH¢2,060.72 million for the last leg of the domestic debt exchange on September 5, 2023.

And on Tuesday, February 20, 2024, the second coupon of GH¢5,847.72 million was paid to domestic bondholders.

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Source: YEN.com.gh

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