DKM creditors receive locked up cash from today

At least 4000 creditors of DKM Microfinance are expected to be paid their locked up deposits today, as the Official Liquidator commences payments.

According to the Official Liquidator, each of the eight designated branches of GCB Bank is expected to attend up to 500 customers every day till all the payments are concluded.

“The eight selected branches of GCB Bank will be attending to 500 customers each day. But one thing that I want to urge the customers is that they shouldn’t panic, the liquidation is a process and as such, this instance is such a special not a normal one. Whatever challenges that any customer is likely to have may be forwarded to the Official Liquidator,” Principal Company Inspector for the Official Liquidator, Jones Nathaniel Ansah told Citi Business News.

About seventy thousand customers have been validated so far by the Registrar General’s Department and due for payments.

The Official Liquidator however explains to Citi Business News it is continuing with the process and additional validated creditors will be equally settled in terms of payments.

The operations of DKM Microfinance were suspended over a year now for flouting some regulations in the financial sector.

The development has led to may reactions from the affected customers who have resorted to numerous agitations to get their issues addressed.

Meanwhile the affected customers are still apprehensive of the amounts that they will be receiving at the bank.

The publication of the first batch of validated creditors has been met with threats of court injunctions, boycotts and a demonstration.

The Spokesperson for affected customers of DKM Microfinance in Wa in the Upper West region, Fred Kuuyine tells Citi Business News they are waiting anxiously for the payments.

“We are anxiously gearing up for the payments this morning. I am hoping that by the time the banks opens, we the customers will be matching up to the banks in our numbers,” he stated.

Mr. Kuuyine added, “We are anticipating that the human resource may be insufficient for the huge numbers, hence, they should be willing to work late into the night if possible as the customers may not accept any other explanation once they’re at the premises of the bank for their money.”

Responding to concerns over the expectations of customers regarding how much would be paid, Jones Nathaniel Ansah assured that such concerns would be addressed by the Official Liquidator where legitimate demands are made.

“This is the first batch of payments; as and when we go on to sell the assets of the company, we will definitely be paying more of the deposits to the affected customers,” he remarked.

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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