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We will pay customers of collapsed financial institutions in first year when elected -Mahama

Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has disclosed that when elected into power, he will pay all persons whose monies have been locked up following the collapse of some financial institutions in the country.

Mr Mahama said the payments will be made within his first year in office should he be elected President in December 2020.

“I pledge on behalf of the NDC that we shall within one year of being in office pay all funds that have been locked up with the collapsed financial institutions. Within our first year in office, we shall pay all the beneficiaries all funds locked up in the collapsed financial institutions and its a promise. We shall not put together any long term payment plan that will further worsen the living conditions of the victims,” he noted.

He indicated that his government will implement a payment plan to pay these customers who have been left aggrieved for over a year now.

He further stated that when the NDC is given the chance to steer the affairs of the nation, he will set up a financial services authority to prevent a repeat of what happened in the Akufo-Addo government.

“As has been introduced in other economies, the NDC will establish a financial services authority that will be responsible for ensuring that consumer financial markets work for consumers and providers and for the economy as a whole. This financial services authority will oversee all financial products and services that are offered to consumers and will effectively and efficiently prevent and stop the challenges that have confronted customers of Menzgold, DKM and others.”

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