MASLOC saga: The state did not incur any financial loss – Board Chair

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• Remove Indemnity Clause 12 years ago

  Enjoy yourself just as all the politicians, NPP and NDC have enjoyed.

  Enjoy yourself just as all the politicians, NPP and NDC have enjoyed.

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• cECIL 12 years ago

  Why all these...ghana???
  Has Akuffo addo found his certificate yet???? Hmmmmmm

  Why all these...ghana???
  Has Akuffo addo found his certificate yet???? Hmmmmmm

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• SYDNEY 12 years ago

  STUPID FOOLISH CECIL, IT IS POVERTY WHICH IS UR ENEMY NOT AKUFFO ADDO OR HIS CERTIFICATE.....THIS GREEDY CEO IS MAKING UR NORTHERNERS AND VOLTARIANS EVEN POOR SO LETS ALL CONDEMN HER AND STOP THINKING OF AKUFO ADDO AND HIS CE ...
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  STUPID FOOLISH CECIL, IT IS POVERTY WHICH IS UR ENEMY NOT AKUFFO ADDO OR HIS CERTIFICATE.....THIS GREEDY CEO IS MAKING UR NORTHERNERS AND VOLTARIANS EVEN POOR SO LETS ALL CONDEMN HER AND STOP THINKING OF AKUFO ADDO AND HIS CERTIFICATE FOOL.

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• Danny, London 12 years ago

  Lt Colonel Korsah, what are you talking about? Politely it is nonsense to tell educated Ghanaians that there were no loses made. Perhaps you appear not to know your job well for the fact there is a clear blatant abuse in the ...
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  Lt Colonel Korsah, what are you talking about? Politely it is nonsense to tell educated Ghanaians that there were no loses made. Perhaps you appear not to know your job well for the fact there is a clear blatant abuse in the running of your organisation of which you are the Board Chairman.
  
  The reality is that there is apparent case of 'Conflict of Interest'. And you yourself have stated this. The seemingly question is why was 500,000 Cedis given to another guise name company of the Executive Director Bertha Sogah? Whose husband and son run this company. Lt Colonel Korsah, in your estimation did you not think this very act by the Bertha Sogah is very bad 'Governance'? This in effect can collapse the whole project for giving one particular such a large amount of Government money.
  
  Well Lt Colonel Korsah, may I point out to you that you have woefully failed as Board Chairman. Can you tell Ghanaians how your Board approved of such a huge sum of money to one company, when this particular company is really owned by the same MASLOC CEO and family. It is such financial incongruence that has let the country failed badly to date. Unfortunately, the country Ghana will continue to be so poor in development as long as such people like you are put into positions of trust and you cannot not perform simple over site of your staff actions to achieve desire goals of the organisation.
  
  The CEO Bertha Sogah must be removed immediately since things showed she does not know proper management, to even talk about financial knowledge. There are clear indications she does not understand simple 'Conflict of Interest', and this is unacceptable in modern management for a CEO. The fact she consistently told the whole world she has done nothing wrong means she is a complete square peg in a round hole. Thus she must be replaced.

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• YUPYUP 12 years ago

  how many poor common men and women could access her husbands micro finance scheme? and yet she IS DOLING OUT 500,000.00 TO FINANCE THAT SCHEME WHICH IS BEYOND THE REACH OF THE MASSES..........THAT IS GREEDY SELFISH AND WICKED ...
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  how many poor common men and women could access her husbands micro finance scheme? and yet she IS DOLING OUT 500,000.00 TO FINANCE THAT SCHEME WHICH IS BEYOND THE REACH OF THE MASSES..........THAT IS GREEDY SELFISH AND WICKED.

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• SYDNEY 12 years ago

  IT IS NOT AN ISSUE OF FINANCIAL LOSS...IT IS AN ISSUE OF LACK OF MORAL CONSCIENCE WHICH IS LACKING IN THIS WOMAN.....EVEN KUFFUOR WHO U CALL A THIEF THOUGHT ABOUT THE POOR AND SET UP MASLOC TO OFFER CHEAP LOANS TO THE POOR FO ...
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  IT IS NOT AN ISSUE OF FINANCIAL LOSS...IT IS AN ISSUE OF LACK OF MORAL CONSCIENCE WHICH IS LACKING IN THIS WOMAN.....EVEN KUFFUOR WHO U CALL A THIEF THOUGHT ABOUT THE POOR AND SET UP MASLOC TO OFFER CHEAP LOANS TO THE POOR FOR BUSINESS...THIS WOMAN CHOSE TO GIVE 500,000.00 TO HER HUSBAND TO RUN HIS MICRO-FINANCE-BUSINESS WHICH IS OBVIOUSLY VERY UNAFFORDABLE TO THE POOR BUSINESS MAN...THIS IS PLAIN EVIL AND LACKS COSCIENCE....NDC ARE JUST EVIL AND LACK FEELING FOR THE MASSES.....THIS WOMAN IS EVIL AND SO IS THE BOARD CHAIR IF HE FAILS TO FEEL FOR THE POOR.

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• Nii Akwei 12 years ago

  Think again. Th manner in which she gave the money (cash) to her husband raises further question.

  Think again. Th manner in which she gave the money (cash) to her husband raises further question.

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• Kofi Ata, Cambridge, UK 12 years ago

  Nii, you are right that it's not a matter of financial loss to the state but serious case of conflict of interest. How can a Chief Executive award state funds to a business owned and managed by husband without declaring the c ...
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  Nii, you are right that it's not a matter of financial loss to the state but serious case of conflict of interest. How can a Chief Executive award state funds to a business owned and managed by husband without declaring the conflict of interest or reporting that to the Board? If she played any role in awarding the funds to her husband's business without the due process, including the conflict of interest declaration,then, she should be sacked. Her position is untenable.

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• Mehunu meka nti 12 years ago

  Blame this 'innocent-looking'CEO for giving priority to her family needs,ahead of all other considerations? After all,Auntie Bertha does not come across as someone who intended to 'fleece' the state,because funds have been re ...
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  Blame this 'innocent-looking'CEO for giving priority to her family needs,ahead of all other considerations? After all,Auntie Bertha does not come across as someone who intended to 'fleece' the state,because funds have been recovered!
  Operating on the basis of this warped mindset,is it surprising that you find other managers of laudble national programs - NYEP,NHIS,School Feeding Mass Cocoa Spraying/Fertilizers,Supply of Premix fuel,Purchasing of Buffer Agric Stocks,divert monies to support these initiaves, into purely private purposes like buying short-term financial intruments such as govt treasury bills, while trainees,farmers,Hospital/Pharmacies and workers go without monthly stipend or payments for several months? The systems 'overload'we are witnessing all around us, is the result of this callous behaviour of some past and present appointees!

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• Akwasi Pee 12 years ago

  Why won't an Ewe man defend an Ewe Woman?Idiot!The issue here is about conflict of interest,not about whether monies have been retrieved or not.In any civilised country this woman should have stepped down immediately.Just ima ...
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  Why won't an Ewe man defend an Ewe Woman?Idiot!The issue here is about conflict of interest,not about whether monies have been retrieved or not.In any civilised country this woman should have stepped down immediately.Just imagine such people directing the affairs of this country.Things have indeed fallen apart.

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• Akwasi Pee 12 years ago

  Why won't an Ewe man defend an Ewe Woman?Idiot!The issue here is about conflict of interest,not about whether monies have been retrieved or not.In any civilised country this woman should have stepped down immediately.Just ima ...
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  Why won't an Ewe man defend an Ewe Woman?Idiot!The issue here is about conflict of interest,not about whether monies have been retrieved or not.In any civilised country this woman should have stepped down immediately.Just imagine such people directing the affairs of this country.Things have indeed fallen apart.

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• CASTLE BOY 12 years ago

  John Akonfem Dumsor Mahama when will they retrieve that of Woyome

  John Akonfem Dumsor Mahama when will they retrieve that of Woyome

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• KANEWU 12 years ago

  "Taking his turn to answer questions when he, Ablakwa, appeared before the Appointments Committee of Parliament to be vetted".
  
  Appointments Committee of Parliament my foot!!!!
  
  GHANA'S SUCCESSIVE APPOINTMENTS VETTING COM ...
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  "Taking his turn to answer questions when he, Ablakwa, appeared before the Appointments Committee of Parliament to be vetted".
  
  Appointments Committee of Parliament my foot!!!!
  
  GHANA'S SUCCESSIVE APPOINTMENTS VETTING COMMITTEES OF PARLIAMENT ARE TOTALLY USELESS. THESE USELESS COMMITTES ARE MADE UP OF A BUNCH OF LIKE-MINDED FREELOADING CROOKS FORMERLY LED BY DOE ADJAHO, THE CURRENT SPEAKER OF PARLIAMENT, JUST COLLECTING UNDESERVING SITTING ALLOWANCES AND SALARIES AT GHANA'S TAX PAYERS EXPENSE.
  
  NO WONDER THE LIKES OF AKUFFO-ADDO, GARBRAH AND MANY OTHERS WITH FAKE AND/OR "MISSING" QUALIFICATIONS HAVE HELD VERY SENSITIVE POLITICAL POSITIONS, ALL OF WHICH HAVE LANDED GHANA IN A WEB OF FRAUDULENT JUDGMENT DEBTS PROBLEMS AND LOANS OF EVERY DESCRIPTION, WHICH KEEPS ON MOUNTING BY THE DAY.
  
  Those useless Parliamentary Appointments Vetting Committees must be scrapped because they are just rubber stamps of the President of the day in hopeless Ghana with hopeless directionless leadership.
  
  WE SHALL ALL SWIM IN THE SHIT CREATED BY GHANA'S FREELOADING, CORRUPT, LAZY, DIRECTIONLESS AND VISIONLESS LEADERSHIP.

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• ERICUS-ERICUS 12 years ago

  GHANA HAS NOW BECOME A STATE WHERE FEW IN GOVERNMENT ARE USING STATE MONEY AND RESOURCES TO ENRICH THEMSELVES.
  A BOARD CHAIRMAN WHO SITS FOR SOMEONE TO USE STATE MONEY TO SPONSOR FAMILY BUSINESS; WHO APPROVED THIS IN THE FI ...
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  GHANA HAS NOW BECOME A STATE WHERE FEW IN GOVERNMENT ARE USING STATE MONEY AND RESOURCES TO ENRICH THEMSELVES.
  A BOARD CHAIRMAN WHO SITS FOR SOMEONE TO USE STATE MONEY TO SPONSOR FAMILY BUSINESS; WHO APPROVED THIS IN THE FIRST PLACE? STUPID MAN - THE MONEY HAS BEEN PAID BACK AND SO WHAT? IS THAT THE WAY IS SHOULD HAVE GONE???

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• MISTY 12 years ago

  STUPID ERICUS OR WHATEVER YOUR NAME IS.NANEAMA KEDEIKE, ARE YOU DUMB OR DEAF ? THE BOARD DOES NOT RUN DAY TO DAY ACTIVITY OF THE SCHEME. GET IT INTO FUCKING FOOOLISH COCONUT HEAD.BASTARD.

  STUPID ERICUS OR WHATEVER YOUR NAME IS.NANEAMA KEDEIKE, ARE YOU DUMB OR DEAF ? THE BOARD DOES NOT RUN DAY TO DAY ACTIVITY OF THE SCHEME. GET IT INTO FUCKING FOOOLISH COCONUT HEAD.BASTARD.

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• ALHAJI KUKRUDU 12 years ago

  What she did amounted to Conflict of Interest and should be sacked. What is the CEO's approval limit? Is the board saying that she can approve GHS500,000.00 without resorting to the board? Even with the Universal Banks, MDs & ...
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  What she did amounted to Conflict of Interest and should be sacked. What is the CEO's approval limit? Is the board saying that she can approve GHS500,000.00 without resorting to the board? Even with the Universal Banks, MDs & CEOs have approval limit of about only GHS100,000.00 and anything beyond that goes to the board. Colonel (Rtd) Kaku Korsah should stop this lie and tell us the truth if he is involved in the deal.

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• KANEWU 12 years ago

  COMMON SENSE DICTATES THAT ANY COUNTRY WHOSE BUSINESS CITIZENS AND RESIDENTS KNOW THE LOCAL CURRENCY IS UNSTABLE AND USELESS WITH LIMITED PURCHASING POWER, WOULD PREFER TO USE A STABLE AND CONVERTIBLE CURRENCY FOR THEIR BUSIN ...
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  COMMON SENSE DICTATES THAT ANY COUNTRY WHOSE BUSINESS CITIZENS AND RESIDENTS KNOW THE LOCAL CURRENCY IS UNSTABLE AND USELESS WITH LIMITED PURCHASING POWER, WOULD PREFER TO USE A STABLE AND CONVERTIBLE CURRENCY FOR THEIR BUSINESS NEEDS, WHICH IN THE CASE OF GHANA, IS THE WORLD'S RESERVE CURRENCY THE US DOLLAR, AMONG OTHERS.
  
  THE US DOLLAR, LIKE MANY OTHER CONVERTIBLE CURRENCIES, AND EVEN THE INDIAN RUPEE, ARE USED AS MEDIUMS OF EXCHANGE IN MANY COUNTRIES.
  
  IF GHANA'S USELESS LEADERS WANT THE SAME TO APPLY TO THE CEDI, THEY SHOULD KNOW WHAT MACRO-ECONOMIC POLICIES TO IMPLEMENT TO RESTORE CONFIDENCE IN THE CEDI, PERIOD.
  
  GOING CAP-IN-HAND BEGGING EVERY TOM,DICK AND HARRY FOR LOANS OF EVERY DESCRIPTION IS CERTAINLY NOT PART OF THE COMMON SENSE ECONOMIC POLICIES TO RESTORE CONFIDENCE IN THE CEDI REGARDLESS OF THE NUMBER OF RE-DENOMINATION EXERCISES.
  
  GHANA'S IS PAYING BACK BIG TIME FOR YEARS OF THE PRACTICE OF NEPOTISM, TRIBALISM AND CORRUPTION IN UNIVERSITY ADMISSIONS, DOCTORING OF GRADES, PLAGIARISM AND APPOINTMENTS OF QUARE-PEGS-IN-ROUND-HOLES LIKE AKUFFO-ADDO, "DR" SPIO GARBRAH AND MANY OTHERS IN VERY SENSITIVE POSITIONS WHILE THE NATION'S JUDGMENT DEBTS, FRAUDULENT ESBs, ENDEMIC GRAFT AND OTHERS CONTINUE TO CRIPPLE THE NATION'S ECONOMY AND THE CEDI.
  
  RESTORE CONFIDENCE IN THE CEDI FIRST, AND ALL OTHERS SHALL FALL IN PLACE

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• KANEWU 12 years ago

  ALSO, DENOMINATING THE DOLLAR TO THE CEDI WHERE EVEN THE PORTS CHARGES AND ESBs PAYOUTS ARE US DOLLAR-DENOMINATED ARE CERTAINLY NOT COMMON SENSE MEASURES TO RESTORE CONFIDENCE IN THE CEDI REGARDLESS OF THE NUMBER OF RE-DENOMI ...
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  ALSO, DENOMINATING THE DOLLAR TO THE CEDI WHERE EVEN THE PORTS CHARGES AND ESBs PAYOUTS ARE US DOLLAR-DENOMINATED ARE CERTAINLY NOT COMMON SENSE MEASURES TO RESTORE CONFIDENCE IN THE CEDI REGARDLESS OF THE NUMBER OF RE-DENOMINATION EXERCISES.

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• KD 12 years ago

  Mr Board Chair, MD has questions to answer.
  Was there a valid contract? no illegitimacy involved?
  Was her action in advariance with statute and regulation?
  A loan of that size for a micro finance institution thus deprives ...
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  Mr Board Chair, MD has questions to answer.
  Was there a valid contract? no illegitimacy involved?
  Was her action in advariance with statute and regulation?
  A loan of that size for a micro finance institution thus deprives many a poor Ghanaian of small affordable loans. it is also known as @"crowding out" the poor Ghanaian.
  At what rates was this liability issued, Markey 36%?
  Micro finance loan out monies at 3-6% per month thus 36% - 72% What ratesa did this questionable loan attract.

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• Ametsitsi 12 years ago

  Was AMISGOLD Microfinance Ltd operating as susch before it received the loan from MASLOC? No, it only started operation as a microfinance company as soon as it receiced the loan. MASLOC's action is therefore wrong; other irr ...
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  Was AMISGOLD Microfinance Ltd operating as susch before it received the loan from MASLOC? No, it only started operation as a microfinance company as soon as it receiced the loan. MASLOC's action is therefore wrong; other irregularities then follow.

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• Amega 12 years ago

  Something interesting!! According to the CEO, she received the Board's consent before releasing the loan facility to AMISGOLD; now here Col (rtd) Kaku Korsah Board Chairman is saying 'they did not notice that such an amount o ...
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  Something interesting!! According to the CEO, she received the Board's consent before releasing the loan facility to AMISGOLD; now here Col (rtd) Kaku Korsah Board Chairman is saying 'they did not notice that such an amount of money had been taken'.So who is telling the truth?

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• rukaya 12 years ago

  the chairman of masloc should be the first to be fired.he should have made investigation of not causing finacial lose before asking her to proceed on leave.the chairman has interet to for the position for his favourate that w ...
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  the chairman of masloc should be the first to be fired.he should have made investigation of not causing finacial lose before asking her to proceed on leave.the chairman has interet to for the position for his favourate that was why he quickely asked her to proceed on leave.the chairman was not the one who sign her appointment letter it was the president and why did he asked her to proceed on leave by writting the letter himself.the chairman did not consult the presidency,he took unilateral decision and must also go.we are not in military era where on person can just take a decision for thewhole commitee.share hatreat for the woman but god will call her back

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• P. W. Awuley 12 years ago

  "...because the board was not responsible for the day to day administration of MASLOC, they did not notice that such an amount of money had been taken" Then the board is grossly inefficient! Does the board not look at the MAS ...
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  "...because the board was not responsible for the day to day administration of MASLOC, they did not notice that such an amount of money had been taken" Then the board is grossly inefficient! Does the board not look at the MASLOC portfolio reports? At least loans to the magnitude of GHC50,000+ should be
  known by the board at during its periodic meetings!!! Solution: SACK THE CEO PLUS THE BOARD, BEGINNING FROM THE CHAIRMAN.

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• Mokeh Baly 12 years ago

  The Chairman of the Board has taken an Accent car Mascloc which his girlfriend in MASLOC drives to work. Has Col. Karku Korsah paid even a pesewa for the car?

  The Chairman of the Board has taken an Accent car Mascloc which his girlfriend in MASLOC drives to work. Has Col. Karku Korsah paid even a pesewa for the car?

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• Ametsitsi 12 years ago

  I am pretty sure there are other members of the Board who purchased Accent/i10/Verna vehicles from MASLOC and who are grossly in arrears; for instance Pius Austin, Board Member.

  I am pretty sure there are other members of the Board who purchased Accent/i10/Verna vehicles from MASLOC and who are grossly in arrears; for instance Pius Austin, Board Member.

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• Mokeh Blay 12 years ago

  When did Col Korsah set up the committee of enquiry? Who are the members? And when did they retrieve the money? Lies, lies, and lies from Col Korah

  When did Col Korsah set up the committee of enquiry? Who are the members? And when did they retrieve the money? Lies, lies, and lies from Col Korah

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• Bugri Naaba 12 years ago

  I am surprised at this story. May some one ask Col Korsah to shut his mouth and let us think. Is he not aware that some big men in Masloc are afraid thar they will be exposed by Madam Soga for using Masloc money to pay for ...
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  I am surprised at this story. May some one ask Col Korsah to shut his mouth and let us think. Is he not aware that some big men in Masloc are afraid thar they will be exposed by Madam Soga for using Masloc money to pay for their personal loan of GHC 200,000 from a bank. Ask such friendish perosnalities such as Pius Austin, Carlos Dessousou?

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• Yaa Boahema 12 years ago

  This conflict of issue abounds in MASLOC. It is alleged that the Head of Operations (Mr. Enoch Donkoh) owns 4 microfinancial institutions, three of which are SOLIDARIO MICROFINANCE LTD, SAGE MICROFINANCE LTD, and NATIONWIDE M ...
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  This conflict of issue abounds in MASLOC. It is alleged that the Head of Operations (Mr. Enoch Donkoh) owns 4 microfinancial institutions, three of which are SOLIDARIO MICROFINANCE LTD, SAGE MICROFINANCE LTD, and NATIONWIDE MICROFINANCE LTD.
  Again, it is being rumoured in MASLOC that the Greater Accra Regional Manager of MASLOC Seyena Kodoto (nee Fiagbedzie) and the Eastern Regional Manager (Frank Agidi) jointly own a microfinancial institution by name F & F financial limited. I believe there are others. Aren't these conflict of interest cases? They are yet to be made public issues.

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