Chiefs and people of Techimantia in Tano South District of Brong Ahafo Region have vowed to deal ruthlessly with any financial institution whose aim is only to defraud the people of Techimantia.
Their comments come after thousands of customers of DKM Microfinance Company lost their investments after the central bank in 2015 suspended the operations of DKM for violating the banking Act.
Kontihene and Acting Chief at Techimantia, Nana Amoh Komanteng ll, who spoke on behalf of other chiefs said all financial institution which intend to operate in the area will be subjected to scrutiny by him and his elders after the BOG rules have been met.
He said the move will ensure that no one takes his people for granted as that has been the situation.
He says the decision has become necessary due to the heavy blow his people have had to suffer at the hands of DKM, God is love etc.
Nana Amoh Komanteng ll said this when Sunyani Area Teacher’s Cooperation credit Union inaugurated their new branch at Techiman.
Background
Thousands of customers of DKM Microfinance Company lost their investments running into millions of cedis after the central bank in 2015 suspended the operations of DKM for violating the banking Act.
Though the central bank subsequently lifted the ban on the company’s operations, DKM was unable to pay its customers their locked up cash.
The Bank of Ghana confiscated the assets of the company and appointed the Registrar General’s Department to commence liquidation process to refund customers of the company.
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Audio: Techiman chiefs bare teeth at ‘fake’ financial institutions
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