Some customers whose monies have been locked up in the collapsed Gold Coast Fund Management in Takoradi have threatened to vote against the governing New Patriotic Party (NPP) if it fails to pay them before the end of November 2020.
The teeming customers gave the threat today, Saturday, November 21, 2020, after they had an emergency meeting with their national executives in Takoradi in the Western Region over the SEC’s partial bailout package announcement.
Some of the angry customers who displayed their NPP membership cards and voter ID cards, expressed their readiness to vote against the government if their monies are not paid before the end of November 2020.
“We are here to take our money. We are not fools. For two years, I have suffered a lot. We want the government to pay our money from today to the end of November. We don’t want any money in December, because if the government doesn’t pay our money from today to the end of November, we will vote against him. I have over GHS10,00 locked up. Look at a young man like me, what should I do again? You can’t collapse an institution like that for us to just suffer, so we want the government to pay our money from today to November. If he does not pay, we will not vote for him but vote for another government to come and pay our money for us,” Albert Atta Addison, an affected customer in Takoradi told Citi News.
Another affected customer, Diana Ben-Abbew told Citi News the non-payment of her savings has affected her healthcare.
“I’m a widow and a retired physician assistant. I don’t have money and my children are not in gainful employment. I am sick now, how do I buy my drugs? The money I sent to the bank, you are not paying me the money. How do I go about it? So they should pay the money so that I will get money to eat and then to treat myself,” she said.
The national spokesperson of the Affected Gold Customers, Charles Nyame, after addressing the massive gathering, summarized their concerns to Citi News.
“Our demands are simple. We don’t trust the promised procedure announced by the Securities and Exchange Commission to pay Gold Coast fund management customers. Comparatively, if you consider that of the Savings and Loans, it was a stress-free and simple approach payment structure. That is, when they receive the text message from the Receiver, the text message comes with a specific bank, specific bank account and specific amount in that account. So they just take the text message, walk into the bank, and then they withdraw their money. Some were able to withdraw their money the same day they receive a text message. What about us the Gold Coast fund management customers? They are giving us a payment procedure that spans more or less to 12 to 14 working days. If you bring in weekends it exceeds 20 days.”
“What we are telling the government is that this approach makes us think that he is being smart with us, because we have taken an entrenched position to vote against his government if we are not paid. They want to commence this tortoise approach payment procedure to let us into the election so that by the time they will realize we have an election, that payment has commenced, procedures have commenced, so we should take our time, we should go and vote for the government. We are not going to do that.”
“We still stand our grounds that we will not accept any payment arrangements that exceed the election day. If Akufo-Addo’s government want to pay, he should pay now before the election.”
Charles Nyame further explained to Citi News why they are determined to receive their money before the election.
“The reason we are making this claim now is that we have a lot of aged people. About 70 percent of our members are aged people and pensioners. Their ages from between 65 and above and these people have no internet inclination. A lot of them live within a catchment area that has no internet service, so if you say after the message they are supposed to log on to the internet to fill about seven page-form, then they should wait for five working days before they get feedback from the internet, then they proceed to GCB bank to fill another form, they come home and wait for five working days, then they receive another feedback, they go to the bank, they come home again wait for two working days before they go and check their account, what are you talking about?”
“So we are saying that if Akufo-Addo’s government will pay, he should pay now. Again, the cap amount, we are not rejecting it, but the Akufo-Addo government should realize that there are other categories whose investments are far above the cap amount. What arrangements are being made for those people? Because if you consider the investment portfolio of Gold Coast fund management, those who have an investment portfolio between GHS200,000 up to GHS1 million are more than those with GHS 20,00,” he added.