Partial Payment Of Up To 50,000 To Fund Managers Not To Win Election-SEC

The Securities and Exchange Commission (SEC) has stated that Government authorization of a partial payment of up to GHS50, 000 to all customers of the remaining defunct Fund Management Companies whose monies were locked up is out of compassion but not to win election.

Speaking to Kasapa News, the Director-General (DG) Rev. Daniel Ogbarmey Tetteh said customers of the affected fund management have been calling on them to into their aids as court process on the liquidation petition delays.

According to the Securities and Exchange Commission, this comes after deliberations with the government regarding an agreed social and humanitarian intervention for all remaining customers of the failed Fund Management Companies.

Rev. Daniel Ogbarmey said the decision to make this partial payment is predicated on Government’s commitment to protect its citizenry and its sensitivity to the plight of affected clients compounded by the disruptive impact of the Covid-19 pandemic.

To bring relief to the customers, Rev. Daniel announced that Government has authorized a partial bailout which involves a partial payment of up to Fifty Thousand Ghana Cedi’s (GHS50,000) to all customers of the remaining affected Fund Management Companies while the court process on the liquidation petition and other matters continue. Partial payment of up to GHS50, 000