According to the information, straightnewsonline has received the Ghana Pentecostal and Charismatic Council (GPCC) has issued a communiqué that in case the Bank of Ghana, Finance Ministry and Securities and Exchange Commission (SEC) delay to honour their promise of paying in full the customers of defunct banks, microfinance firms, savings & loans companies, finance houses, and fund managers as was re-emphasized in President Akufo Addo’s Christmas message they will join the masses to take to the streets.

The decision to join masses of Ghanaians to take to the street came up when the Ghana Pentecostal and Charismatic Council (GPCC) held a conference at the Pentecost Convention Centre, Gomoa Fetteh from 4 to 7 February 2020 should the government of Ghana delay to pay in full the depositors of the defunct financial sector.

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The Central Bank did a cleanup exercise in the financial sector last year which collapsed 9 local banks, 347 microfinance companies, 23 savings & loans and finance houses, as well as 53 fund management companies. As a result, thousands of Ghanaians have lost their source of livelihood, survival, lost families and brought job losses as well.

President Nana Akufo Addo

As part of the President Akufo Addo’s Christmas message, 6500 jobs were saved instead of 10,000 as well as 4.6 million depositors have been safeguarded as a result of the necessary clean up exercise at the financial sector. The President justified the cleanup exercise saying it was painful though, but a necessary exercise to sanitize the financial sector.


One hopes that all customers or depositors including those whose capital or funds have locked up would receive full payment as soon as practicable.






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