Customer of collapsed investments firms are to note that process to obtain locked up monies begins today 12 Novenmber 2019.
The Securities and Exchange Commission admonishes all such customers to visit CBG branches from Tuesday November 12th, 2019 to complete refund application process. Customers will initially validate their documents at any CBG branch. Once validation is complete, they will subsequently receive text messages outlining the process to receive their monies.
According to the Deputy Director-General for SEC Paul Ababio, “in terms of the way forward, we are working with CBG to ensure that investors can file their claims from 12th November at CBG branches and once we’ve done the validation, we will make some funds available and that will also be announced to the general public”. He made the statement on an Accra based radio station.
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This implies that investors and customers who have locked up funds with any of the collapsed fund managers must submit evidence of claim at any CBG branch at this stage. Communication as to when funds will actually be made available for payment will be made in due course. Investors should additionally note that payments will be made on only validated claims.
Lastly, Mr Paul Ababio reiterated that this initial payments will cover only principal amount of investments