The Aggrieved Gold Coast Fund Customers have welcomed the release of a GH¢1.5 billion bailout package to affected investors of the failed fund management companies that had their licenses revoked in November 2019.
Convenor of the Aggrieved Gold Coast Fund Customers, Charles Nyame, told Umaru Sanda Amadu on Eyewitness News on Citi FM that though members are not entirely happy, the GH¢1.5 billion announcement is welcomed.
Charles Nyame said, “We are not entirely happy because it has been over six years now and our monies have depreciated and we would have wanted it to be paid in full.”
The Securities and Exchange Commission announced the release of the GH¢1.5 billion which it said will be carried out in three tranches with the third tranche expected to be made in December 2024.
Mr. Nyame noted that though the release is not what was expected, the money is accepted in good faith for the sake of the suffering members who need money to take care of themselves.
“We still have some of our members in critical condition who need money to take care of themselves and so it would have been a disservice to our members on the part of the leadership to have said no to this payment because it is not in full but for the sake and the lives of these suffering members of our group, we accept the GH¢1.5 billion in good faith and we plead with the government that it has been over six years and we want the government to expedite action to make sure that they release the remaining outstanding GH¢3.5 billion that could top up to make full payment so that we can put this matter to rest.”
“We are pleading with our members not to be confused about it because no one is going to receive payment less than GH¢50,000 and every investor will receive not less than GH¢50,000 but you can receive more than GH¢50,000 with this payment plan,” Mr. Nyame further urged for calm.
Explore the world of impactful news with CitiNewsroom on WhatsApp!
Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https://whatsapp.com/channel/0029VaCYzPRAYlUPudDDe53x
No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital
