Crisis at ASN Financial Services deepens

Some customers of ASN Financial Services Limited say they are losing confidence in the central bank over its apparent loss of control over the financial system.

The customers who have been investing with the company for some time now are angry over delays by management of the savings and loans company to pay their hard earned investments.

Management of ASN Financial Services, in April last year met over 1000 clients to explain reasons why customers cannot have access to monies they invested in the company, and subsequently pleaded with them to wait for a year before their investments would be refunded.

According to the customers, the said date after a year’s wait was April 30, 2018, TV3’s Grace Asare reports.

But when some customers arrived at the Madina Firestone office of the company on May 3, the place was under lock and key.

Nana Adu Nipah, one of the customers who invested over 5,000 cedis and was due to collect around 6, 600 is blaming the regulator, Bank of Ghana, for the crisis.

Meanwhile the company’s branch at the Adabraka was opened for business when TV3 news team visited the place.

Managing director of ASN, who would not go on record, admitted that the institution was facing some financial crisis, but assured customers of the safety of their funds.

Nonetheless, management of ASN are not sure of the payment plan for customers.

Meanwhile, the customers say they will not relent in using all possible means, including going to the court, to retrieve their funds.

This is not the first time customers have had to endure delays in the release of their investments owing to some irregularities.

Last year, for instance, customers of the defunct DKM microfinance were unable to retrieve huge sums of monies they invested in the company after the company was declared insolvent in 2015.