The Abossey Okai Spare Parts Dealers Association has called on President Akufo-Addo, to direct the Finance Minister to immediately release the full payment of members’ locked-up monies as a results of the Financial Clean-Up Exercise by government without interest latest by September, 2023.
They also called on President Akufo-Addo to direct the Finance Minister to immediately engage the leadership of the Abossey Okai Spare Parts Dealers Association for collection of members data for payment.
“Failure to meet this deadline, would cause the leadership and the entire membership of the Abossey Okai Spare Parts Dealers Association to advise themselves for further action”.
Addressing the media,the Public Relation Officer of the Association, Mr. Takyi Addo, said about five hundred (500) members have a total sum of Five Million Ghana cedis (GH₵5,000,000.00) locked up in defunct financial institutions.
The banking sector clean-up which was initiated some time in 2017 saw a reduction in the number of banks from 34 to 23, whilst 347 microfinance institutions, 15 savings and loans and eight finance houses had their licences revoked.
Unfortunately, the business capital of some members of Abossey Okai Spare Parts Dealers Association got locked up in a number of the financial institutions which suffered the financial sector clean-up exercise.
Mr. Addo said they have heard in the media and seen evidential documents from the Finance Ministry alluding to the usage of part of the twenty-five billion (GH₵25,000,000,000.00) parliamentary approved bail-out to pay all victims of the financial clean-up exercise.
“We have patiently waited for over five (5) years with a godly hope of seeing the government utilizing part of the Parliamentary Approved Bailout Package of twenty-five billion Ghana cedis (GH₵25,000,000,000.00) to settle our lock-up monies but to no avail,” he stated.
On his part, the new chairman of the Association, Mr. Henry Okyere Junior said many of their members have died as a results of the locked up funds, while others have their businesses collapsed.
He appealed to the government of President Akufo-Addo to immediately speed-up the processes leading to prompt payment of lockup funds or the association will advise itself.
