Ghana: Eric Nipah Dispels Rumour of Payment to Customers

THE Receiver for the 347 insolvent Microfinance Companies (MFCs), Eric Nipah says it is untrue that customers of four microfinance firms in the Ashanti Region are to go to a certain "A-ONE microfinance" for payments.

He said customers of the firms comprising Jasper Motors, Care for Humanity, God is Love and Perfect Edge should disregard any statement asking them to , according to a statement issued in Accra last week.

Additionally, he said the three aforementioned microfinance companies were not under his receivership and that people conducted business with them at their own risk.

The caution comes on the heels of viral messages asking the affected customers to submit documentation of their claim to A One Microfinance for processing of their claim and payment.

It said for those in his receivership, the validation process was still on-going and that relevant information concerning the Receivership process would be published.

"The general public is therefore advised to confirm veracity of any communication purporting to be coming from the office of the Receiver" the statement said.

The Bank of Ghana on May 31, 2019 revoked the license of 347 MFCs and in accordance with Section 123(2) of Act 930 appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers (Ghana) Limited ("PwC") as Receiver for the purposes of winding down the affairs of microfinance companies .

Among his duties, he is to recover and maximise asset realisations for the benefit of Creditors including mainly depositors and distribute realisations in accordance with the relevant provisions of Act 930 and satisfy the indebtedness of these MFCs to their body of Creditors, to the extent possible.

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