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First Allied Company Tells Worried Customers Not To Worry, All Is Well

The northern regional branch manager of the First Allied Company, Mr Samuel Yaw Essel has urged customers in the region not to engage in panic withdrawal given the bank's ongoing financial difficulties.

His plea was occassioned after a large number of First Allied customers started withdrawing their savings in Kumasi.

Mr. Essel urged customers to bear with the bank as it tries to resolve the problem hopefully by the end of this month. He insisted that the company was not collapsing as was being speculated in some sections of the public and social media domain. This is in the wake of the collapse of five local banks.

The panic withdrawal according to First Allied started after Anass Aremeyaw Anass broadcast of corruption at the Ghana Football Association and its president's poor handling the association's dealings.

A social media report linked a saving and Loans company knowns as FASL to the wave of corruption. Subsequently, on June 14, all financial institution working in partnership with the Ghana Football Association (GFA) and its former boss, Mr. Kwesi Nyantakyi, were directed to furnish the Financial Intelligence Centre (FIC) with information for investigations the agency was directed to conduct.

Mr Essel, who visited Zaa business News said the regulator- Bank of Ghana, has visited most of their branches and offered some explanations to the customers on what the First Allied Company is currently going through and advised them not to engage in panic withdrawal.

The branch manager entreated all customers, especially those with fixed deposits, whose maturity dates are not due, to remain calm as the regulator- bank of Ghana exercises its supervisory role on the technicalities involved, in the interest of customers.

The branch manager also apologized for the inconvenience that has been caused their customers during this period.

Mr Essel told Zaa News the company is aware that their customers are genuinely in need of money, either to pay utility bills, schools fees of their kids or invest in their businesses.

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