The Coalition of Aggrieved Customers of Gold Coast Fund Management (GCFM) has threatened a nationwide demonstration should government fail to address their concern within two weeks.
According to them, instead of government liquidating assets of the company, it should rather credit bank accounts of customers with payment timelines by December 2019.
Addressing a news conference in Accra yesterday, the Public Relations Officer (PRO) of the Coalition Mr Charles Nyame, called on the government to arrange a meeting between the Ministry of Finance, the Securities and Exchange Commission (SEC) and the leadership of the customers to deliberate on their concerns.
That, he noted, would help them to reach an agreement and provide appropriate solution in resolving the outstanding issues.
Mr Nyame indicated that the coalition was informed that government and SEC have taken decision to revoke the license of GCFM, thus would set the company on a path of liquidation.
He stated that the decision would deprive customers of their hard earned monies and called on government to rescind on the decision.
The PRO charged government to support the ordinary taxpayers, whose investments had been locked up, stressing that “we hope President Nana Addo Dankwa Akuffo-Addo will apply every means possible to save customers from losing their investment”.
He bemoaned that the capped amount proposed by the Finance Minister, Mr Ken Ofori Atta, to pay the aggrieved customers would deepen their plight.
“There are different levels of individual investments with the company which ranges from GH₡50,000 to over GH₡40 million, we therefore consider the rational for the capped amount proposed by government as irrational,” he stated.
Mr Nyame explained that the proposed amount would not address the urgent needs of the various categories of investors, adding that “regulator should ensure to issue receipts of evidence to customers who are participating in the ongoing validation process”.
“Liquidation is not a guaranteed means by which we can retrieve all our investment within reasonable time considering the hardships we are faced with,” he added.
BY JOYCELINE NATALLY CUDJOE
