Information reaching Business Day indicates that individual and institutional investors, who have done fixed deposits with UT, Capital and UniBank, are finding it very frustrating in getting their monies back.
This is because the Bank of Ghana (BoG), Business Day learnt, now chooses which cheque to honour and which cheque not to honour.
The Bank of Ghana (BoG) has recently assured customers of the UT and Capital Banks that they would continue to have access to their funds, stressing that, it had approved a Purchase and Assumption transaction with GCB Bank Ltd that transferred all deposits and selected assets of UT Bank and Capital Bank to GCB Bank.
But an aggrieved customer of UniBank, told this paper that customers of the aforementioned banks are being frustrated by the bank of Ghana anytime, they present cheques for payment.
“If the amount involved is too huge, BoG will ask you to wait for some time,” the source stated.
He added: “We have presented a cheque for over eight million cedis at UniBank but KPMG told us that such huge amount cannot be paid and that we have to go and queue at the Bank of Ghana which we did for over three weeks now. GCB Bank has also stop paying individual and institutional investors who have done fixed deposits with UT and Capital Bank.”
The situation, according to reliable sources, are forcing many individual and institutional investors to be cash-stressed.
When an official of BoG was contacted, he promised that his outfit will investigate the issue.
By John Kelly
