CASLOC Threatens NPP With Electoral Backlash Over Unpaid Funds:Over 500,000 CASLOC members threaten to vote against NPP gov't over unpaid funds.
The Coalition of Affected Savings and Loans Customers (CASLOC), representing over 500,000 depositors whose savings remain locked after the collapse of financial institutions, has issued a one-week ultimatum to the government. They demand the immediate release of funds to settle outstanding payments, warning that failure to comply will lead them to vote against the ruling New Patriotic Party (NPP) in the upcoming December 7 general elections.
CASLOC represents depositors affected by the 2019 financial sector cleanup, which saw the Bank of Ghana revoke licenses for 23 Savings and Loans and Finance House companies, 347 Microfinance institutions, and 39 Microcredit companies. While over two million affected customers received compensation before the 2020 elections, CASLOC asserts that payments stalled afterward, leaving over 500,000 depositors unpaid.
Despite assurances from President Nana Addo Dankwa Akufo-Addo, Vice President Dr. Mahamudu Bawumia, and former Finance Committee Chair Dr. Mark Assibey-Yeboah that all affected customers have been fully compensated, CASLOC disputes this claim.
“Not all affected customers have been paid in full,” said CASLOC Secretary Ezekiel Annor Akagbo. “More than 500,000 customers are still awaiting their funds.”
CASLOC is urging the government to direct the Ministry of Finance and the Bank of Ghana to release the required funds to the appointed Receiver for final payments. They warn that if their demands are not met within a week, they will actively campaign against the NPP in the elections.
In their statement, CASLOC has demanded that the government instruct the Ministry of Finance and the Bank of Ghana to immediately release the necessary funds to the appointed Receiver to complete the outstanding payments.
They have warned that if their demand is not met within a week, they will mobilize against the NPP in the December elections.
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