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Government To Pay 82,000 Gold Coast Fund Management Aggrieved Customers

Pictures are for illustration purposes only.

The Securities and Exchange Commission (SEC) has announced plans to pay the Gold Coast Fund Management Companies a fixed amount of GHc50,000 each on humanitarian grounds.

The Securities and Exchange Commission upon deliberation stated that they had to take this action because of the plight of customers most of whom are pensioners. Is this a little bit too late though?

The question we are however asking is why is the ruling government doing this eighteen days to the general elections?

Have the threats to vote the government out against the current administration finally hit home?

It will be recalled that many investors have lost their lives and according to the spokesman for the Gold Coast Fund Management aggrieved customers, Mr. Joseph Ayeh who spoke on eyewitness on CiTiFM yesterday, stated about three hundred and sixty-eight (386) of their members have passed on so far.

Mr. Joseph Ayeh welcomed the news as it will greatly help their members living conditions especially after the havoc that covid-19 pandemic has wrecked on individual lives.

The total number of affected institutions to be paid are in excess of some 92,000 customers of defunct Fund Management Companies.

There are however aggrieved investors of FirstBanc Investment Limited who are wondering if this "generosity" from the Ghanaian government will innure to their benefits as well.

FirstBanc has given their Heritage Fund and First Fund to TTL Investment and many are wondering if the move was to help sustain TTL from collapsing or to promptly pay suffering investors. So far prompt payment of aggrieved customers have not been the issue on the agenda of TTL.

It is however a welcomed news for some 92,000 aggrieved customers who have been fighting for months and years on end to get their invested funds out of collapsed fund management institutions, especially Gold Coast Fund Management.

Below are some pictures of the aggrieved customers depicting how rough the road has been so far in getting access to their own funds they gave to companies regulated by government for safe keeping. The government failed them woefully.

Content created and supplied by: kojo-vivify (via Opera News )

Fund Management Companies Gold Coast Gold Coast Fund Management Government Joseph Ayeh


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