About 1,200 former workers of defunct UT and Capital Banks are threatening to vent their spleen on the government over the failure to pay their severance packages.

About some 14 months after their banks were collapsed by the Bank of Ghana (BoG), the staff claim they now live from hand to mouth.

“We are now dead goats so we will stop at nothing until we get our severance packages; the government should not push us to the wall,” they fumed.

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The Bank of Ghana revoked the two banks’ licences due to severe impairment of capital on August 14, 2017, and appointed Messrs Vish Ashiagbor and Eric Nana Nipah – both Directors of PwC – as Joint Receivers for the purpose of winding-down the two banks’ affairs.

GCB Bank was then authorized by the Bank of Ghana to take over management of the defunct banks under a Purchase and Assumption Agreement.

As a result of this action, the ex-employees of Capital and UT Banks appointed UNICOF to negotiate an Exit Package on behalf of staff.

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As per the Joint Receivers’ letter dated 15th January 2018, an agreement was reached with UNICOF to pay all staff of these defunct banks an Exit Package”.

Following this agreement, the aggrieved staff on Adom FM’s morning show, Dwaso Nsem Thursday said the Central Bank has refused to give PwC to authorization to pay their severance packages.

Samuel Enin, former staff of UT bank said he now begs friends and family to feed his family.

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“I’m now the woman in the house because I can’t feed my family and my wife has to take over. I’m now a beggar after 14 months,” he bemoaned.

Samuel Obeng-Osei also with UT Bank said the severance package for former staff of both banks amount to “just GH₵40 million” thus could not fathom why the government cannot pay them.

“For the past 14 months, we have been begging and living from hand to mouth; why!” he asked.

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The former UT Bank staff cited how the stigma of being a staff of a collapsed bank is affecting their chances of securing another job.

Mr Obeng Osei feared the future of his children is at stake as he is finding it difficult to pay their school fees.

Raymond Addei Danquah, a former staff of Capital Bank revealed that the majority of his colleagues are bedridden due to the shock they suffered when the bank collapse

“I went for an interview and I was told I have lost value because my bank has collapsed” he stated.

Mr Danquah said petitions sent to the presidency, BoG and to former presidents to intervene has not yielded any results.

“We are going to use violence because we’ve pleaded for too long,” he stressed.



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