Eric Nana Nipah - Receiver for the insolvent and dormant microfinance companies

The Receiver of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses, Eric Nipah, has revealed his struggle to have access some 35 resolved companies to enable him validate and settle claims of depositors.

In a statement, Mr Nipah stated that he is working with the Economic and Organised Crime Office (EOCO) to locate and retrieve the manual and electronic books and records of these companies.

According to the statement, the 35 resolved companies have depositor claims worth approximately GHS252 million.

“At the commencement of the resolution process, there were 157 non-operational companies whose books and records we were not able to locate and secure. Based on the collaborative arrangement we have with the Economic and Organised Crime Office (EOCO) which includes assets tracing and investigations, over time, we have been able to retrieve books and records from 131 resolved entities which were not operational at the commencement of the resolution of these companies, thereby making it possible for us to be able to validate creditor claims on these institutions.”

“Currently, there are 35 resolved companies with depositor claims worth approximately GHS252 million which have no books or records available to us, to enable us to validate and settle these claims under the Depositor Payment Scheme. We are working with EOCO to locate and retrieve these companies records in order to be able to validate and settle depositor claims made on these companies,” he said.

Meanwhile, over 96% of those who were owed have been paid according to the receiver.

Below is a list of resolved companies the Receiver is yet to obtain books and records on.

Click the link below to read the full statement by the Receiver

Press_Release_Receiverships_No_Records_companies_Aug_20_Final