Customers of defunct financial institutions to receive payment through CBG

Customers of defunct Savings and Loans, as well as microfinance companies, are to receive their payment through the Consolidated Bank Ghana (CBG).

The Bank in a communique to staff Monday outlined modalities for payment to customers effective today, February 24.

“Based on data to be submitted to CBG by the Receiver, CBG will open new accounts for all depositors whose (claims) have been validated and accepted by the Receiver for payment.

“CBG will open two sets of accounts, one operational account and another investment account to hold the bonds if the customer’s fund exceeds the cash payment threshold,” the communique said.

More soon…