More unsuspecting customers of financial institutions in Ghana continue to suffer losses of their life savings because of the sudden collapse of these pseudo banks. Customers of the Tamale branch of Man Capital Savings and Loans Company Limited are the latest to join nationwide groups of agitated customers calling on the appropriate authorities, especially the Securities and Exchanges Commission (SEC) and the Economic and Organised Crime Office (EOCO), to compel owners of Man Capital to release their deposits without further delay.
The disgruntled customers have given the SEC up to Friday 7th September 2018 to publish a credible roadmap towards repaying their deposits and investments. A failure to meet their demands by the Friday deadline will compel customers to resort to legal and other unpalatable means to resolve the matter.
At a press conference held this afternoon to register their displeasure about the continued silence of SEC and EOCO, customers and depositors of the company having exhausted all channels to address the matter, are convinced that: the SEC is not interested in pursuing the Man Capital dilemma to a logical conclusion.
Customers also doubted if EOCO is fully aware of the magnitude of the scam perpetrated by Man Capital and Partners. Customers have also cast doubts about the independence of the police Criminal Investigations Department (CID), to conduct full scale investigations into the matter because the Director General of police CID, Mrs. Tiwaa Addo-Danquah was a board member of the Man Capital and Partners, and only resigned months ago at the time the company had closed its offices to customers. The customers are therefore calling on the office of the President and the Economic Management team to intervene in the matter.
In addition, they want government to do two things; to ensure that the hard earned savings of all Ghanaians with the company are retrieved and to consider liquidating the Man Capital CEO’s assets, related investments and businesses to pay off innocent customers of the company. The above they suggest is the only way to safeguard the integrity of the distressed financial sector which has lost the confidence of the public.
BY: ABUKARI JAMLDEEN