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By Stephen Bittor
The convenor for the Locked-up Investment Holders Forum, Dr. Adu Anane Antwi has detailed the rationale behind his outfit’s protest against the governor of the Governor and the Ministry of Finance.
Responding to a question posed to him by a journalist regarding the problem between his group and BOG, the finance expert stated that, his outfit was just seeking a response from the governor of the Bank of Ghana, either to revoke the licenses of the four financial institutions holding their investments so that it could pay them or provide liquidity support to institutions so that they can attend to their customers.
” Our problem is that BOG has licensed some institutions to make investments and we have invested with those institutions. It has come to a time that the institutions are in a serious problem- they can’t pay us our interests, they can’t pay us our principals, they’re challenged and for some of them for four years now we have not been able to receive any fund from them.
“We sent a petition to the Bank of Ghana that they should act to ensure that this institution pays investors their funds; you can only do that when you give them liquidity support. The Bank of Ghana says it’s not able to give liquidity support because these companies are insolvent and the law also says if they’re insolvent, just take their license from them, and if you take their license from them, you know you must pay us, just like you took the licenses from some people in 2017-2018 and paid the investors their money, so two things – give them liquidity support so that they can work and pay us or revoke their license and pay us our funds” he explained.
Source: Adoanews.com
