Pay Us Our Locked-Up Cash Within Three Weeks Or Face Our Wrath — Gold Coast Customers To Gov't

The Coalition of Aggrieved Customers Of Gold Coast Fund Management (GCFM) has sent a strong warning to the Akufo-Addo led-Administration to pay them their monies owed them or face their wrath.

According to the aggrieved customers, they are disappointed the President has refused to put in measures at fixing the situation.

Addressing the media, the Public Relations Officer of GCFM, Charles Nyame said "We will be holding a mammoth demonstration on the streets of Accra against Government on February 25. Since he has refused to pay us, we have also resolved as a group to vote against this current government."

He accused the President and his cousin, Finance Minister, Ken Ofori Atta for the recent collapse of banks and Ghanaian business under the guise of a supposed financial sector cleanup.

Mr. Nyame revealed that the Coalition cannot fathom why Hon. Ken Ofori Atta and Security and Exchanges Commission Boss, Rev. Ogbame Tetteh who are shareholders of Data Bank withdrew its 10 years investment from GCFM.

"What was their motive for redrawing their investment from GCFM in March 2018 before coming out with their wicked directive in May 2018 which led to the collapse of GCFM and other fund management companies," he quizzed.

Mr. Nyame stressed that the act of collapsing other banks leaving out Data Bank was the worse move by the government as compared to the revolutionary days of the PNDC.

He pointed out that the current NPP administration has failed to add to the little resources the customers have but rather clandestinely taken from them due to its pursuit of political governance.

"All that this current government is concerned about is how they will manipulate their way in the midst of messes they have created in their quest to win political power," he intimated.

Mr. Nyame further mentioned that the validation process which was haphazardly planned and initiated by SEC and government was a means to buy time.

He added that no bank or fund management company can technically meet all obligations at a goal if it has been mandated to refund all funds belonging to its customers and still survive as a business.

The Coalition of Aggrieved Customers Of Gold Coast Fund Management says it asking the President to guarantee full payment of their investment as promised in his 2019 Christmas message.

The group says it will not accept the GHc10000/GHc200 00 earlier proposed by the Finance Minister considering the different levels of individual investments with the company ranging from GHc50,000 to over Ghc4000,0000.

"We consider the rationale for the capped amount proposed by government as irrational since it does not address the urgent needs of all the various categories of Investors but rather will worsen the already deplorable plight of majority of the customers," he emphasised.