Rev. Daniel Ogbarmey Tetteh
ABOUT GH¢768 million has been disbursed to some 6,916 clients of the 53 defunct Fund Management Companies (FMCs).
Such clients, according to the Securities and Exchange Commission (SEC), signed up for the government’s full bailout programme.
On Friday, Rev. Daniel Ogbarmey Tetteh, Director General of SEC, met the media in Accra and made this known.
According to him, actual payments effected under the Partial Bailout Programme as of March 31, 2021, amounted to GH¢995 million, representing 81% of total claims and 83% of the total corresponding partial bailout value.
The SEC Director General highlighted that “Out of the total claimants who have signed up for the full Bailout Programme, a total amount of GH¢768.26 million has been paid as at March 31, 2021. This represents a total of 83% of total claimants paid out of total sign-ups done and 78% of the total value paid of examined claims. The number of claimants who have been fully settled under this programme amounts to a total of 6,916 clients as of March 31, 2021,” he said.
A total of 64,685 claimants have signed up for the programme by executing the assignment and subscription agreement as at March 31, out of a total of 89,233 claimants.
This represents 72 per cent of total claimants signed up under the partial bailout programme.
He continued that “Actual payments made under the Partial Bailout Programme as of March 31, 2021 amounts to GH¢995 million to 52,264 claimants. This represents 81% of total claimants and 83% of the total corresponding partial bailout value. The number of clients who have been fully settled under this programme amounts to a total of 42,945 claimants as at March 31, 2021.”
He said as at the end of March this year, the total value of claims being considered for the third and current phase of the full bailout programme stands at GH¢637 million, from six (6) FMCs whose liquidation orders have been granted by the courts and gazetted. Out of these claims, GH¢556 million has been validated.
Under the first phase, GH¢1.1 billion of claims were validated as at October 2019 while in the second phase at end of November 2020, GH¢1.06 billion of claims were validated accordingly out of GH¢1.8 billion considered.
BY Samuel Boadi