Choicenewsonline Your Choice Is Here
The Coalition of Affected Savings and Loans Customers (CASLOC) has issued a stern ultimatum to the ruling New Patriotic Party (NPP), threatening to withdraw their electoral support in the upcoming December 7, 2024, general elections if their locked-up funds are not paid within the next week.
Speaking at a press conference held on Sunday, November 24, 2024, at the Kumasi Cultural Centre, CASLOC leadership expressed their frustration with the government’s failure to settle payments for over 500,000 members. These funds were frozen following the Bank of Ghana’s financial sector cleanup exercise in 2019, which resulted in the collapse of numerous Savings and Loans companies, Microfinance institutions, and Microcredit entities.
CASLOC Rejects Government Claims
During the press briefing, CASLOC refuted claims by high-ranking government officials, including President Nana Addo Dankwa Akufo-Addo and Vice President Dr. Mahamudu Bawumia, that all affected customers had been compensated. The coalition described such statements as untrue and misleading.
CASLOC Secretary Ezekiel Annor Akagbo lamented the government’s inaction, stating that the coalition had made several attempts to resolve the issue through dialogue, but to no avail.
“It is categorically false that all affected customers have been paid. As of today, over 500,000 of our members have yet to receive their locked-up funds. We cannot tolerate this neglect any longer,” Mr. Akagbo said.
Electoral Consequences Loom
CASLOC warned that its members, along with their families and sympathizers, could significantly influence the election outcome if their concerns are not addressed.
“Failure to address our demands will compel us to mobilize against the NPP at the polls. We represent not just our members but millions of voters who empathize with our plight,” Mr. Akagbo emphasized.
The coalition gave the government a one-week ultimatum to release funds through the Ministry of Finance and the Bank of Ghana to the appointed Receiver to settle all outstanding payments.
Rising Frustration Among Members
Members of CASLOC expressed disappointment over what they described as “empty promises” by the government. According to Maxwell Atabila Abanga, an executive member of CASLOC, the current administration’s failure to fulfill its promises has exacerbated the financial struggles of thousands of families.
“We trusted this government to act in good faith, but they have failed us. We are ready to use our votes as a form of protest if our demands are not met,” Mr. Abanga stated.
A Call to Action
The coalition urged the media, civil society organizations, and other stakeholders to amplify their concerns and pressure the government to act swiftly. CASLOC believes that resolving the issue is not only a financial matter but also a moral obligation to restore public trust in the governance system.
As the December elections approach, the government faces mounting pressure to address the grievances of CASLOC and avoid a potential voter backlash that could tilt the balance in a tight electoral contest.
For further details, CASLOC leadership can be contacted via the following:
Ezekiel Annor Akagbo (0243874772 / 0200701020)
Maxwell Atabila Abanga (0243654072)
Samuel Okyere (0544951139)
Dominic Owusu Sekyere (0541377384)
Conclusion
CASLOC’s ultimatum sets the stage for a critical showdown with the NPP, as the coalition remains resolute in its demand for justice. The coming days will determine whether the government can resolve this long-standing issue or risk alienating a significant portion of the electorate.
By Michael Debra
