We don’t want to hear that the GHS 1.5bn to be paid to customers of failed banks had issues – Franklin Cudjoe tells Finance Minister

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IMANI Boss Franklin Cudjoe

Founding President of IMANI Africa, Franklin Cudjoe, has told Finance Minister Dr Mohammed Amin Adam that they do not want to hear from the Minister that the 1.5 billion Cedis promised to pay the customers of the collapsed banks, had some issues.

Dr Amin Adam had promised at a town hall meeting held in the United Kingdom on Saturday, June 22 that an amount of GHS1.5 billion would be released to compensate people affected by the banking sector cleanup exercise from now to October.

He said although the government was not responsible for the investment decisions of individuals, it is a caring government hence the decision to earmark the GHS 1.5 billion to compensate them.

He said ” The question on the money locked out, we are going to pay. We do not take responsibility as a government because when people decide to invest in one bond or one instrument or another government is not consulted, it is an individual decision and when you are investing you know you can make your returns or you can also lose.

“Even, as a government when we invest in euro bonds the market is volatile, we lose, we gain and when we lose we don’t blame America or Britain for losing, we are advised before we invest so it is important for us to establish that foundation that the government will not be held responsible for the investment decisions of individuals but this government is so caring.

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