Nana Ofori Owusu wondered why Databank was still operating after the challenge to protect customers’ investments, angering customers.
Nana Ofori Owusu said that when Gold Coast Securities’ license was revoked, it had invested 67 percent in government bonds and businesses, but the SEC continued to shut down its operations despite asking for time to address investors’ concerns.
“Today, we learned that the company of the Minister of Finance, Databank, has invested 90 percent of the money with government bonds and government securities… So, you collapsed one company to support government business, bonds and securities; contractors, local contractors of Ghana. , was given money and completed the project. [some of them] about 8 people, they are 30 million, some 50 million and others 5 million but [a company] one company has invested about GHC 4 billion in government securities and you are saying you will not pay the money and do not pay the money, you take the license.
“Currently, Databank has said that they also cannot pay the liquidity challenge to investors, but 67 percent of what is given to government bonds and securities. do this, but with them, you have created a stability fund to save your company; about 15 billion of us said, to save your company … So, what if we live in a country where, on the one hand, when you do something and I don’t like you or I think you are not beautiful for me, then I will destroy your company ?”, he argued.
Nana Ofori Owusu said that when Gold Coast Securities’ license was revoked, it had invested 67 percent in government bonds and businesses, but the SEC continued to shut down its operations despite asking for time to address investors’ concerns.
Last year, some angry customers had threatened Databank staff forcing them to carry out remote operations and work from home.
The fund management company then announced office closures and remote working for its staff effective December 22, 2022 following physical and verbal attacks by some clients.