President Nana Akufo-Addo

President Nana Akufo-Addo says the government has paid all depositors of collapsed banks.

According to the president, no single depositor has been left out in the payments made so far asserting that the government spent some GH 21¢ billion in payments.

“Let me repeat this, all those whose savings were in the banks have been paid back to them. The intervention of the Central Bank was to protect their savings because many of the banks that finally went into receivership were about to collapse, their situation was dire and if they were allowed to collapse, all those deposits would have gone up in flames,” the president said.


There have been numerous claims by depositors and investors as well as the Alliance for Social Equity and Public Accountability that the government has failed to pay depositors and investors with locked-up funds in the now-defunct banks, microfinance and savings and loans companies.

The president in a radio interview on Koforidua-based Sunrise FM, however, refuted the claims and insisted that all depositors and investors have been fully paid.

“Ninety-eight per cent of the depositors of microfinance and savings and loans companies have also been paid. And the rest will be paid by the close of August 2020,” he noted.