Aggrieved depositors of defunct DKM) Diamond Microfinance Limited may heave a sigh of relief as government says it has completed processes to release claims of up to 90% of the affected victims.
Finance minister Hon Ken Ofori Atta while presenting the 2019 budget on the floor of parliament revealed that out of the 99,858 claims, 79,708 (80 percent) have been settled and depositors have been paid. Government is also taking steps to settle almost all claims of DKM customers.
‘Mr. Speaker, you would recall that DKM Diamond Microfinance Limited had its license revoked in February 2016 with considerable suffering imposed on depositors, without any meaningful response from the previous government. That has significantly changed. The official liquidator received 99,858 claims and the validated claims amounted to GH¢502 million. I would like to inform the country that out of the 99,858 claims, 79,708 (80 percent) have been settled and depositors have been paid’, he maintained.
Finance minister Ken Ofori-Atta added that the government has set aside funds at the bank of Ghana to pay the remaining 20 percent depositors upon validation since claims from 12,612 have been fully provided with the customers finding difficulty to show proof of deposit.
‘The Government has set aside funds at the Bank of Ghana to pay the remaining 20 percent of depositors upon validation. An additional 12,612 claims have been fully provided for, but the customers have not as yet been able to show proof of deposit’, he added.
He further stressed that the remaining 10% are yet to reach an agreement with the liquidators and as soon as that is done their funds will be released.
‘This means that 92 percent of DKM claims from depositors have been paid or provided for. Depositors for the remaining 7,568 claims of above GH¢10,000 are yet to reach agreement with the liquidators’ he highlighted.
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 subsequently confiscated the assets of the company and appointed the Registrar General’s Department to commence a liquidation process to refund customers of the company.
The customers of DKM Financial Services blamed President Nana Addo Dankwa Akufo-Addo and his ministers of not honoring the promise of retrieving their monies for them as promised.
By: Lutfata Sung-Bawiera/universnewsroom.com