Tag: Eric Nipah
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Receiver accrues GHS2.6 million from 1st auction of seized cars
The Receiver for the collapsed microfinance and Savings Loans companies, has raked in about 2.6 million cedis from the auction sale of the first batch of confiscated vehicles owned by the defunct companies. The 5-day exercise is part of efforts to recoup monies to pay affected depositors. A variety of salon cars were put up…
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Lawsuits delayed payments to majority of customers of collapsed S&Ls – Association
The Executive Secretary of the Ghana Association of Savings and Loans Companies (GHASALC), Tweneboa Kodua Boakye, says about 70 percent of customers of their members whose licenses were revoked have not received their locked-up funds. He attributed the delay to the legal and other challenges faced by the receiver in the process of validating about…
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Receiver secures loan from BoG to pay workers of collapsed MFIs
The receiver of the collapsed microfinance companies, Eric Nana Nipah has stated that he has secured a facility from the central bank to cater for some microfinance workers who were engaged to help the receivership process. Mr. Nipah speaking in an interview with Citi News stated that some of the collapsed companies had funds in…
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Customers of collapsed MFIs may not get full deposits — Eric Nipah
The receiver of the microfinance companies collapsed by the central bank, Eric Nipah, has stated that there is no guarantee that the customers of such financial institutions will be able to retrieve their full deposits lodged. Mr. Nipah speaking in an interview on the Citi Breakfast Show with Bernard Avle stated that the receivership processes…
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Customers, workers of distressed financial institutions cry out
Despite government spending as much as GH¢12 billion on the financial sector clean up, the effect of the exercise has not seemed to trickle down to customers who largely complain about their inability to access their deposits. The Bank of Ghana’s clean up exercise started with the banking sector where a total of nine banks…
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Workers of Trust Microfinance take on PwC over unpaid salaries
Some workers of Trust Microfinance have expressed their dissatisfaction over the non-payment of their salaries by the Receiver, Eric Nana Nipah of Price Water House Coopers (PWC) after the Bank of Ghana revoked the company’s license. The workers tell Citi Business News their contracts have also not being renewed. “The first week of the revoking…
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Receiver pays Gh¢21.7m to 33,000 microfinance depositors
The Receiver of the 347 microfinance companies (MFCs) whose licences were revoked by the Bank of Ghana (BoG) has so far paid GH¢21.7 million to approximately 33,000 depositors. This is out of GH¢480 million validated and agreed claims by 66,000 depositors as at July 19, 2019. The Receiver has received claims from approximately 140,000 depositors,…
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We’re not receivers for God is Love, Jasper Motors etc — Eric Nipah
The receiver for the 347 microfinance companies collapsed by the Bank of Ghana has advised the public to disregard a statement asking customers of some defunct deposit-taking institutions to submit documentation for their claims to be processed. A press release issued by PwC’s Eric Nana Nipah said the statement calls on customers of Jasper Motors,…