Locked-up Investment Holders Forum end protest with proposals to government
Locked-up Investment Holders Forum end protest with proposals to government

Locked-up Investment Holders Forum end protest with proposals to BoG

A group of individuals belonging to the Locked-up Investment Holders Forum (LIHF) staged a protest today, urging the Bank of Ghana (BoG) to address their concerns regarding their locked-up investments.

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The protest, which initially began near the NDK Finance office close to the Accra Sports Stadium, halted at the Kwame Nkrumah Mausoleum as the Bank of Ghana premises are a security zone.

Speaking to the press, Dr. Adu Anane Antwi, the convener of the group, explained that they had to seek shelter at the mausoleum due to harsh weather conditions, citing past instances where protests were stopped at that location.

“You would recall that when the Minority in Parliament held their protest, they stopped them at this point and so we don’t want to force the police to go against their own rule and we were even going to do it at the roadside but the sun is too much and so we pleaded to be allowed here but the original plan was to do it at the roadside.” Dr. Anane Antwi stated.

Shedding light on the contents of their petition, Dr Antwi urged the Bank of Ghana (BoG) to take over the distressed financial institutions and pay the customers their locked-up investments.

"We have proposed two methods or approaches, either you give the institutions money, give them support to cover about 20 per cent of locked up funds, we are prepared to convert the rest into bonds or equity in these organisations," Dr Antwi said. "If they are insolvent, revoke their licences and take over depositors' funds and pay us as you did in 2017/2018," he added.

In response to their grievances, a delegation of ten members from the group has been designated to meet with the Finance Minister personally to reiterate the contents of their petition submitted last November.

“The next plan is to go to the Ministry of Finance. Ten of us will go and meet the minister and we have already given a petition to them since November, 2023 so we are going to find out what the minister is doing about it.”

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