Customers of the defunct Gold Coast Fund Management have said that they have had a response from the Finance Ministry since they started picketing to demand the payment of their locked-up funds.
However, the customers described the response from the Finance Ministry as ‘not fruitful.’
Speaking on the Ghana Tonight show on TV3 on Tuesday, November 29, Charles Nyame, spokesperson for the aggrieved customers said when asked whether they have had a response from the Ministry “we have but not fruitful. Not fruitful in the sense that we were called by the Finance Ministry and met the Honorable Mohammed Amin Adam, Minister of States at the Finance Ministry for an engagement.
“In that meeting, all that he asked us to do was to accept assistance from them so that we the customers will go after the Gold Coast Fund management shareholders, Dr Papa Kwasi Nduom and the others, so that they will leave the court.
“If they leave the court they will pay us our money but it is unheard of because the Gold Coast Fund Management, as far as the liquidation order is concerned, it was the government that filed the liquidation case against Gold Coast Fund Management to liquidate assets of the company. This is purely a litigation process. Gold Coast Fund Management is putting out defense legally and we don’t know how we can go after them.
“All that they are saying is that unless we go after them will not disburse the parliamentary approved bailout that is meant for us payment. we don’t know what to do now that is why we are calling on civil society, Catholic Bishops and the Chief Imam to all come in.”
The customers who have been picketing at the Finance Ministry are seeking the release of their funds from the defunct company, which has been renamed Black Shield Fund Management.
Over 55,000 customers have their investments locked-up due to the government’s revocation of the company’s license.
A member of the group stated that “President Nana Akufo-Addo stated on the floor of Parliament that he has released their monies to Finance Minister Ken Ofori- Atta and Rev. Ogbamey Tetteh to pay their locked-up monies but they’ve not received them.”
He added that, “When we came here to picket two weeks ago, delegation from the Finance Ministry told us they will call us, but we never heard from them. Today, we came well prepared to sleep here till we get our monies, we (customers) came with our clothes, toothpaste, toothbrush, mats, our medicines, foods, sponges, towels and all the things we shall need during our stay because we ain’t going home.”
Another customer lamented that, “What I will eat with my children and grandchildren in this Christmas is a problem for me.”