Akufo-Addo orders release of GH¢1.5bn bailout for banking sector clean-up victims

President Akufo-Addo has directed the Ministry of Finance to release GH¢1.5 billion to customers affected by the banking sector clean-up.

This was disclosed by the Finance Minister, Dr. Mohammed Amin Adam over the weekend at a UK Town Hall meeting, explaining that the disbursement is expected to take place between now and October.

Dr Adam acknowledged that the government should not be held accountable for their investment decisions, but noted that mistakes were made in this case and people were not well-informed.

He stated that some individuals have suffered greatly, with some even losing their lives due to the impact of the clean-up.

“Ideally, government should not be held responsible for the investment decisions of individuals, but this government is so caring.

“Mistakes were made and people were not well-informed, and they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.”

“This government is so caring that in the first place, we granted some bailout to all the affected and I want to tell you again that the President has directed that we do another bailout.

“So between now and October, we will release 1.5 billion Ghana Cedis to the affected people,”