Investment holders protest to demand payment of locked-up funds

Members of the Locked-up Investment Holders Forum (LIHF), on Wednesday, March 27, embarked on a protest against the Bank of Ghana (BoG) over their locked-up funds.

The protest started near the NDK Finance office close to the Accra Sports Stadium but had to halt at the Kwame Nkrumah Mausoleum due to the central bank’s premises being a security zone.

Dr. Adu Anane Antwi, the group’s convener, urged the central bank to take over the distressed financial institutions and pay customers their locked-up investments.

“We have proposed two methods or approaches, either you give the institutions money or give them support to cover about 20 percent of locked-up funds. We are prepared to convert the rest into bonds or equity in these organizations,” Dr Antwi said.

Meanwhile, some selected members of the group will later meet with the central bank and the Finance Ministry to reiterate the content of their petition submitted last year November.

The group began engaging with the central bank a year ago to help them redeem their investments from the Financial Houses and Savings and Loans companies.

The protest is expected to continue every two weeks until their demands are met.

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