Tag: 23 Savings and Loans
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Asset base of defunct microfinance firms, others was short by GHS4 billion – Receiver
The Receiver of the 347 defunct microfinance companies, 23 savings and loans and finance houses, faced a GHS4 billion shortfall in the asset base of defunct companies it hoped to recover. Speaking on Citi TV‘s The Point of View, Eric Nana Nipah explained that the firms cumulatively said they had an asset base of about…
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GN Bank wasn’t a ponzi scheme – Groupe Nduom replies Finance Minister
Groupe Nduom, owners of defunct GN Bank, has debunked claims that it operated as a ponzi scheme prior to being declared insolvent by the Bank of Ghana. According to them, the Minister of Finance, Ken Ofori-Atta, while speaking in an interview on Accra-based, Asaase Radio on Sunday, July 26, stated that “When we got into…
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Prosecutions will begin in August – Receiver for defunct Microfinance & S&Ls firms
The Receiver for the defunct 347 Microfinance Companies and 23 Savings and Loans Companies and Finance Houses, Eric Nana Nipah, says the government is not only interested in recovering assets and paying depositors, but will also commence prosecutions from August this year. In an interview with Citi Business News, Mr. Nipah, who has assured a…
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Receiver traces assets of collapsed Microfinance & S&Ls to settle outstanding claims
The Receiver of the defunct 347 Micro Finance Companies, 23 Savings and Loans and Finance House Companies, Eric Nana Nipah, says he is undertaking a detailed asset tracing of the owners of the collapsed financial institutions. This is to enable him have access to more liquidity in settling outstanding claims following the collapse of the…
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BoG to pre-finance outstanding salaries of ex-staff of Microfinance and S&Ls firms
The Bank of Ghana has agreed to pre-finance the full outstanding salaries and negotiated an exit packages of former employees of the defunct 347 microfinance firms and 23 savings and loans companies and Finance House firms. This was announced in a statement by the Receiver, Eric Nana Nipah, who doubles as a Director of PricewaterhouseCoopers…