No Result
View All Result
Wednesday, June 7, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Ghana is the best destination for investment in West Africa – Bawumia

    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    Ghana sends debt restructuring proposal to official creditors

    IMF mission staff arrive in Ghana today to assess implementation of economic recovery programme

    WTO Chief urges African governments to increase trade, agric investment

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Citi Business Festival 2023: Takeaways from reimagining digital economy forum

    Citi Business Festival: Techgulf CEO cautions of AI’s intrusive power, calls for urgent digital education

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Ghana is the best destination for investment in West Africa – Bawumia

    African leaders urged to push for electronic cars over combustible automobiles 

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Re-consider computation of VAT for local industries- AGI tells govt

    IMF proposes acquisition, mergers of banks to mitigate financial sector instability

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

  • TECHNOLOGY

    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Citi Business Festival: Forum on Digital Economy comes off today

    Citi Business Festival: 8 pillars of digital economy by TechGulf’s CEO

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    WTO Chief urges African governments to increase trade, agric investment

    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Ghana is the best destination for investment in West Africa – Bawumia

    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Ken Ofori-Atta, Ministry of Finance for Ghana, gives an interview during day 3 of the AfDB Annual Meetings on 13 June 2019 in Malabo, Equatorial Guinea. (Photo by Malick Silue)

    Ghana sends debt restructuring proposal to official creditors

    IMF mission staff arrive in Ghana today to assess implementation of economic recovery programme

    WTO Chief urges African governments to increase trade, agric investment

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Citi Business Festival 2023: Takeaways from reimagining digital economy forum

    Citi Business Festival: Techgulf CEO cautions of AI’s intrusive power, calls for urgent digital education

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Ghana is the best destination for investment in West Africa – Bawumia

    African leaders urged to push for electronic cars over combustible automobiles 

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Re-consider computation of VAT for local industries- AGI tells govt

    IMF proposes acquisition, mergers of banks to mitigate financial sector instability

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

  • TECHNOLOGY

    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Citi Business Festival: Forum on Digital Economy comes off today

    Citi Business Festival: 8 pillars of digital economy by TechGulf’s CEO

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    WTO Chief urges African governments to increase trade, agric investment

    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Angry clients of defunct Fund Management firms arrested for picketing at Finance Ministry

September 1, 2020
in Banking And Finance, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Three members of the Coalition of Aggrieved Customers of the defunct 53 Fund Management Companies were on Tuesday, September 1, arrested for leading a protest at the premises of the Finance Ministry.

Members of the group thronged the Ministry of Finance on Tuesday, September 1, 2020, to protest over the exclusion of clients of Blackshield Capital Limited from the first phase of government’s proposed bailout package for customers of the defunct fund management companies.

In an interview with Citi Business News, the Public Relations Officer of the Accra Regional Police Command, DSP Efia Tenge, explained that the leaders were arrested for staging an unlawful protest.

ADVERTISEMENT

“We heard a group of aggrieved people have besieged the premises of the Ministry of Finance and we saw that they had blocked the entrance of the Ministry preventing access; and therefore it behooves on the police to come and ensure that they are dispersed and that is what we have done.”

“We keep on saying that if you want to embark on any form of protest or any form of demonstration, go through what the law requires for all of us under the Public Order Act 1994, Act 491, so if you do not go through this basic requirement, then it means that the police would have no other option than to come and disperse the crowd and that is what the police have done.”

The group took the action on the back of claims that some affected customers will not be part of phase one of the government’s bailout package for the sector.

But SEC says clients of Blackshield, formerly Goldcoast Fund Management and the others, will only be captured in the second phase after the liquidation orders are secured.

This has not gone down well with clients of Blackshield who have threatened a demonstration if the decision to exclude them is not reversed.

Reconsider exclusion of Blackshield from bailout package – Aggrieved customers

The Coalition of Aggrieved Customers had earlier called on SEC to rethink the decision to exclude clients of Blackshield Capital Limited from the government’s bailout package.

Addressing the press on Monday, August 31, 2020, spokesperson for the Coalition, Charles Nyame, described the exclusion of Blackshield’s clients as mischievous and a plot to divert the public’s attention from the poor handling of the financial sector clean-up.

“We consider the reasons given by the SEC as misleading and deceptive. The government also issued a bailout to other customers of companies that are also in court to contest their revocation. It is therefore questionable how the government and SEC decided to apply the rules differently. The actions by the government and SEC are mischievous and dishonest, especially when the government is aware that the court is on legal vacation. We hereby call on the government to rethink and include all Blackshield customers in the bailout package since advancing the bailout package does not amount to any interference in the court process,” he noted.

 

Source: Ernest Arhinful/citinewsroom.com
Tags: Blackshield Capital Management LimitedCollapsed BanksGhana News
Previous Post

Allianz Life emerges ‘Fastest Growing Company’ at Ghana Insurance Awards

Next Post

CSOs initiate online petition against Agyapa Royalties deal

Next Post
Franklin Cudjoe

CSOs initiate online petition against Agyapa Royalties deal

Accra Kotoka International Airport Arrivals
ADVERTISEMENT
Citi Business News

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.