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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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DKM creditors cry foul over bribe allegations

bycitibusinessnews
January 5, 2017
in Banking And Finance, Government, Local Economy, Top Stories
Bolgatanga DKM

Some customers verifying their details at the Bolgatanga branch of DKM

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Validated customers of DKM Microfinance Company have accused officials of the Ghana Commercial Bank as well as security personnel at the payment centers of demanding bribes before paying them their locked up investments.

According to the customers, the officials in question demand between GHC200 and GHc500 before paying customers their locked up cash.

Spokesperson for some of the DKM customers in Tamale, Mohammed Ibn Issaka, told Citi Business News the development is causing chaos and unnecessary delays at the various payment stations.

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“The payment is ongoing but the demand for money is delaying the process because some police officers and some cashiers at the bank are liaising together and exploiting the customers,” he said.

He added “Even though I witnessed an incident on the 30th of December last year at the market branch of GCB Bank at Sunyani, it felt pathetic since the Police officer on duty could not execute any action when I confronted him.”

Meanwhile the Principal Company Inspector for the Official Liquidator, Jones Nathaniel Ansah confirmed reports of the incident.

In an interview with Citi Business News, Mr. Ansah said the department has commenced investigations into the development after a number of customers reported the incident.

“Personally, I have been informed of the situation and the office has been duly informed about it,”

“I have gotten the telephone numbers from two witnesses who I am yet to call as I’m talking to you know investigations are ongoing to get to the bottom of this,” he concluded.

Resumption of payment to validated customers

The Official Liquidator of DKM Microfinance Company, the Registrar General’s Department on Tuesday January 3rd, 2017, resumed payments of locked up investments due validated customers of the company.

It followed a series of protests by some validated customers for not finding their names on lists released by the Registrar General’s Department.

Woes of DKM customers

Thousands of customers of DKM Microfinance Company lost their investments running into millions of cedis after the central bank in 2015 suspended the operations of DKM for violating the banking Act.

Though the central bank subsequently lifted the ban on the company’s operations, DKM was unable to pay its customers their locked up cash.

The Bank of Ghana confiscated the assets of the company and appointed the Registrar General’s Department to commence liquidation process to refund customers of the company.

–

By: Anita Arthur/citibusinessnews.com/Ghana

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