OUTSTANDING CASH/bond payments to be settled by the Receiver is GH¢240 million.
Out of the outstanding amount of approximately GH¢240 million, about GH¢211 million relates to additional expected cash payable while GH¢29 million relates to bonds.
Out of a total cash and bonds payable of approximately GH¢5.4 billion, approximately GH¢5.13 billion representing 95 per cent has been paid.
Total cash payable is GH¢2.34 billion while bonds payable is GH¢3.1 billion. Actual cash paid is GH¢2.13 billion, while bonds paid is also GH¢3 billion
Information available from the Receiver’s office indicates that this is a zero coupon rate, i.e. non-interest bearing over a period of five years.
Draw downs could be affected every six months for 10 equal installments, while the timing of the first draw down payment remained March 31, 2021.
Options made available by CBG to depositors included the discounting of bonds and bridge finance or loan at a rate of 24% per annum.
Claims Post Deadline
Approximately 146,000 claims worth GH¢1.76 billion have been received after the deadline, while GH¢1.07 billion of these claims has been validated. The validation process is ongoing.
Payments So Far
On cash and bond payments to depositors, there are 345,122 validated claims totaling GH¢5.34 billion, claims in revalidation (expected to be settled) is worth GH¢7 million,
Total validated claims (expected) is GH¢5.41 billion, while 329,568 depositor claims were transferred to CBG for payment as at July 6, 2020 (Phase one) with a cap of GH¢20,000 valued at GH¢1.09 billion. 18,309 depositor claims were transferred to CBG for payment as at July 6, 2020 (GH¢1 billion additional cash payment) for (Phase two) totaling GH¢1.04 billion.
Total Cash Payments to date for both A and B totaled GH¢2.13 billion.
Data on Bond Payments transferred to CBG as at July 6, 2020 for 6,482 claims amounted to GH¢3.04 billion. Grand total (Cash and Bond) paid so far is GH¢5.17 billion.
BY Samuel Boadi