Banking sector cleanup: Akufo-Addo directs Finance Minister to disburse GHS1.5 billion to support suffering victims

President Nana Addo Dankwa Akufo-Addo has directed Finance Minister Dr. Mohammed Amin Adam to provide financial support for victims of the banking sector cleanup.

Speaking at a UK Town Hall meeting during the weekend, the Finance Minister said the President has directed him to release GHS1.5 billion to the affected victims.

“Mistakes were made and people were not well-informed, maybe they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.

“This government is so caring that in the first place, we granted some bailout to all the affected and I want to tell you again that the President has directed that we do another bailout.

“So between now and October, we will release 1.5 billion Ghana Cedis to the affected people,” Dr. Mohammed Amin Adam said.

According to the Finance Minister, although government should not be held responsible for the investment decisions of individuals, it is important to cushion the victims who continue to suffer after losing their money during the financial sector cleanup.