The Bank of Ghana (BOG) has told Citi Business News that it may be forced to liquidate properties of DKM Microfinance Company soon.
The warning comes after the central bank at a press conference on Friday 8th January, 2016, denied knowledge of claims by DKM Microfinance Company that it has secured funds to pay customers whose investments are locked up.
According to the central bank, DKM has been tasked to submit the full details of depositors whose funds are supposed to have been paid for verification.
[contextly_sidebar id=”RXupbbo4Ot5xBBzLcXjpjCsw5IwyAVip”]Head of Other Financial Institutions Department of BOG Raymond Amanfu tells Citi Business News the company is also supposed to show prove of secured funds plus bank balances and a plan for payment of outstanding depositors’ funds or risk being liquidated.
“What we have done is that we have called them to tell us what they have, what they have paid. They have sent us some reports that they have paid so much but what we are demanding from them is that give us the list of the people you have paid with their phone numbers let’s make a verification even though we know a few of them that we have talked to say they have been paid but is not up to what they are saying. But if they cannot give the central bank any credible plan of paying the money then we will go the next step by liquidating.”
He adds that ‘then i will advise management being the BOG to liquidate the company by selling off all its assets to be able to settle outstanding unpaid depositors funds and this is to happen when they are not able to show enough prove that they can pay the money from their own resources then we will hit the road to liquidating DKM, Head of Other Financial Institutions Department of BOG Raymond Amanfu said.
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By: Norvana Acquah – Hayford/citifmonline.com/Ghana