The area is without a functioning assembly following violent clashes and the failure of residents to partake in the last District Level elections conducted by the Electoral Commission over the DKM saga that hit the area.

The youth invoked curses and banned all political activities to compel authorities to act in ensuring that their monies are refunded.

But at a purification exercise on Tuesday, Nana Kwabena Nyarko, a fetish priest and leader of the youth, who reversed curse, said the district was ready to host the elections.

The ceremony was performed in the Aprewa River, where eggs, a chicken and a sheep were offered to pacify the gods of the land.

They blamed their predicament on the lack of vigilance and supervision on the part of government and the Bank of Ghana (BoG), and appealed to President Akufo Addo to help them retrieve their investments.

Nana Kwabena Nyarko explained that, their decision to reverse the curse was to enable the assembly elect its members to facilitate development in the area.

He however warned and prayed that the gods deal with any resident who backtracks from the purification exercise and invokes fresh curses.

“We want to have our assembly election so that everyone would be free minded to vote for his or her candidate to represent us at the various Assemblies both North and South.

They mentioned DKM Diamond Micro-finance, God is Love Fun Club, Jastar Motors and Investments Company Limited, Little Drops Association, Care for Humanity and Eye Adom Fun Club as the worst culprits in the scandal.

The EC has set 11th April, 2017, to conduct fresh district level elections for Nkoranza North and South Districts.

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By: Mashoud Kombat/citifmonline.com/Ghana

The post Nkoranza youth reverse curse on district assembly elections appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to the Official Liquidator, each of the eight designated branches of GCB Bank is expected to attend up to 500 customers every day till all the payments are concluded.

“The eight selected branches of GCB Bank will be attending to 500 customers each day. But one thing that I want to urge the customers is that they shouldn’t panic, the liquidation is a process and as such, this instance is such a special not a normal one. Whatever challenges that any customer is likely to have may be forwarded to the Official Liquidator,” Principal Company Inspector for the Official Liquidator, Jones Nathaniel Ansah told Citi Business News.

About seventy thousand customers have been validated so far by the Registrar General’s Department and due for payments.

The Official Liquidator however explained to Citi Business News that it is continuing with the process and additional validated creditors will be equally settled in terms of payments.

The operations of DKM Microfinance were suspended over a year now for flouting some regulations in the financial sector.

The development has led to may reactions from the affected customers who have resorted to numerous agitations to get their issues addressed.

Meanwhile the affected customers are still apprehensive of the amounts that they will be receiving at the bank.

The publication of the first batch of validated creditors has been met with threats of court injunctions, boycotts and a demonstration.

The Spokesperson for affected customers of DKM Microfinance in Wa in the Upper West region, Fred Kuuyine tells Citi Business News they are waiting anxiously for the payments.

“We are anxiously gearing up for the payments this morning. I am hoping that by the time the banks opens, we the customers will be matching up to the banks in our numbers,” he stated.

Mr. Kuuyine added, “We are anticipating that the human resource may be insufficient for the huge numbers, hence, they should be willing to work late into the night if possible as the customers may not accept any other explanation once they’re at the premises of the bank for their money.”

Responding to concerns over the expectations of customers regarding how much would be paid, Jones Nathaniel Ansah assured that such concerns would be addressed by the Official Liquidator where legitimate demands are made.

“This is the first batch of payments; as and when we go on to sell the assets of the company, we will definitely be paying more of the deposits to the affected customers,” he remarked.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post DKM creditors receive locked up cash from today appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to the Registrar General, Jemima Oware, the said notice to discontinue the process was served after proceedings of the first creditors’ meeting on Tuesday, September 20, 2016.

“The injunction will not affect the liquidation process because it is going to be moved in just two days’ time. The notice also came at a time we were even done with the meeting,” she stated.

Madam Oware added, “This writ was taken without our knowledge so there was an order of interim injunction against us and basically the person is also one of the creditors of DKM.”

A customer of the DKM Microfinance secured an injunction to halt the proceedings for the first creditors meeting.

The basis was to secure a court notice for the Official Liquidator to pay customers their amounts plus interests.

Jemima Oware however tells Citi Business News payments will commence in the first week in October.

According to her, three local banks (GCB, ADB and Fidelity) have so far been contacted to facilitate the payments.

Hundreds of customers of DKM Microfinance Company Limited on Tuesday (September 20, 2016) converged on the Sunyani Coronation Park in the Brong Ahafo region for the first of three creditors meetings.

The meetings will end in the Upper West region on Saturday, September 24, 2016.

Also, the number of validated customers has increased from the 70,000 to an estimated 90,000.

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By: Jessica Ayorkor Aryee/Pius Amihere Eduku/citibusinessnews.com/Ghana

The post ‘Injunction’ won’t affect DKM liquidation – Official Liquidator appeared first on Citi 97.3 FM - Relevant Radio. Always.

Today [Tuesday]’s meeting is the first of three to be conducted across the country by the close of the week.

About 70,000 customers have so far been validated by the Registrar General’s Department (Official Liquidator) and are expected to receive their locked up cash from next month.

The Acting Registrar General, Jemima Oware explained to Citi Business News the meetings will outline to the creditors the modalities for the repayment of their investments.

“We will be informing them on schedules in relation to when and how much and how many people will be paid so we urge all the creditors to be present,” she said.

Earlier, some of the concerned customers raised their dissatisfaction at what they said was the lack of official correspondence from the Official Liquidator.

But Jemima Oware responded as, “We have published the information in the national news papers… there are about 63,000 to 70,000 creditors; as such we cannot be able to call them up individually. So once we are aware that the media has been able to get wind of the information, we consider it circulated. And we equally expect them to inform other creditors.”

DKM’s operations were suspended by the Bank of Ghana in 2015 after the central bank cited the company for failing to comply with laid down rules on operations in the financial industry.

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By: Pius Amihere Eduku/citibusinessnews.com/Ghana

The post DKM customers meet Official Liquidator at Sunyani appeared first on Citi 97.3 FM - Relevant Radio. Always.