Receiver of defunct financial institutions liaises with EOCO to retrieve books of 35  firms

The Receiver of some defunct financial institutions says he is liaising with Economic and Organized Crime Office (EOCO) to retrieve books of some 35 liquidated firms.

Eric Nana Nipa said the inability to get access to the books and records of these firms had made it validate the claims of depositors on their books the necessary payments.

According to the Receiver, these firms numbering 35 are part of 135 companies that had already shut down, before the Bank of Ghana came in to liquidate their operations.

This was because they were not in good standing and had breached the central bank’s regulations making it difficult to allow them to operate.

According to the notice from the Receiver, the 35 companies have depositor claims of about ¢253 million.

Mr Nipa believes getting the records, will aid the quick payments of their depositor’s claims.

He further stated that at the beginning of the whole liquidation process, there were about 157 firms that had already shut their operations prior the regulator stepped in to liquidate them.

But through their workings with the EOCO, they have been able to retrieve the records and books of 131, leaving 35 firms.

It further gave a breakdown of the numbers saying that 370 firms that where resolved out of which 157 were not operational.

The Receiver said he is committed to paying all claims once he is able to carry out the necessary validation.