The Abossey Okai Spare Parts Dealers Association has called on President Nana Addo Dankwah Akuffo Addo, to direct the Finance Minister to also instruct Bank of Ghana to immediately release the full payment of members locked-up monies as a results of the Financial Clean-Up Exercise by government without interest latest by September, 2023.
They also called on President Akuffo Addo to direct the Finance Minister to immediately engaged the leadership of the Abossey Okai Spare Parts Dealers Association for collection of members data for payment.
“Failure to meet this deadline, would cause the leadership and the entire membership of the Abossey Okai Spare Parts Dealers Association to advise ourselves for further action”.
At a press conference, the Head of Communication for the Abossey Okai Spare Parts Dealers Association, Mr. President Takyi Addo pointed out that, about Five hundred (500) of members have their monies locked-up with a total sum of monies in excess of Five Million Ghana cedis (GH₵5,000,000.00) in the defunct financial institutions.
According to him, they have heard in the media and seen evidential documents from the Finance Ministry alluding to the usage of part of the twenty-five billion (GH₵25,000,000,000.00) parliamentary approved bail-out to pay all victims of the Financial Clean-Up Exercise.
“We have patiently waited for over five (5) years with a godly hope of seeing the government utilizing part of the Parliamentary Approved Bailout Package of twenty-five billion Ghana cedis (GH₵25,000,000,000.00) to settle our lock-up monies but to no avail”.
The banking sector clean-up which was initiated some time in 2017 saw a reduction in the number of banks from 34 to 23, whilst 347 microfinance institutions, 15 savings and loans and 8 finances houses had their licences revoked.
Unfortunately, the business capital of some members of Abossey Okai Spare Parts Dealers Association got locked up in a number of financial institutions which suffered the Financial Sector Clean-up Exercise.
Members have patiently waited for over five (5) years with a godly hope of seeing the government utilizing part of the Parliamentary Approved Bailout Package of twenty-five billion Ghana cedis (GH₵25,000,000,000.00) to settle their lock-up monies but all to no avail.
