Why Databank is trending number 1 on Twitter

Databank is number one among the top trends on Twitter today, November 23, 2022, as customers cry over their inability to access their funds and investments.

According to some Twitter users, who have their savings and investments at the bank, they noticed that random deductions had been made on their monies.

Others have also explained that the act is not deliberate but an instruction from the Securities and Exchange Commission for banks to use the mark-to-market approach, where customers will get the market value of their returns due to the current economic crisis.

Apart from Databank, others have also noted that Ecobank has been using the mark-to-market approach for its EDC investments and other investment packages as well.

The customers said this has reduced their returns and even gone further to reduce their principal.

Twitter has therefore been buzzing as people are panicking as they state their fear of losing their investments.

One Twitter user Rex@RexKwasiDanquah wrote: "There’s misinformation going around that various fund managers (Databank, EDC, Stanlib) are “STEALING” monies people have invested. That’s disingenuous. @SECGhana has instructed them to use use the mark-to-market valuation method in the valuation of investment assets/securities."

Another user, Richard said "Databank and EDC are not making decisions on their own. This is a directive from the SEC to all investment-holding banks and firms. They have to comply."

Read some of the tweets below

Databank and EDC are not making decisions on their own. This is a directive from the SEC to all investment holding banks and firms. They have to comply.

— richard (@akinjide_) November 23, 2022

There’s misinformation going around that various fund managers (Databank, EDC, Stanlib) are “STEALING” monies people have invested. That’s disingenuous. @SECGhana has instructed them to use use the mark-to-market valuation method in the valuation of investment assets/ securities.

— Rex (@RexKwasiDanquah) November 23, 2022

Panic withdrawals at Databank?

— Chiefblue (@_chiefblue) November 23, 2022

So databank will sit and watch on whiles some unscrupulous individuals continue to spread lies about them ? What will it take companies to know social media presence is key in the modern day business?

— Volta Youth (@YouthAllianceM2) November 23, 2022

Dear Twitter and users of twitter

I went to databank today around 4;15pm after trying to reach them for days on phone and i kept being transferred from one call to the other. They had taken 2,500 from my account for no reason and i am doing m-fund which in the agreement should pic.twitter.com/p7A9j1MWDK

— techplanetgh (@techplanetgh) November 22, 2022

The databank thing is really true

— Ekubah???? (@EkubahTheibah) November 23, 2022

Be like I for call Ecobank EDC and Databank for my coins. Ei... these pple spoil everything o herh!

— Paul (@kojoayitey) November 23, 2022

Databank sent us emails. email from them explaining and also added the SEC letter to@it. can’t speak for the other institutions

— richard (@akinjide_) November 23, 2022

not their fault

directive from Government https://t.co/RecL7I9UKq

— richard (@akinjide_) November 23, 2022

Ken Ofori Attah went after former Finance Minister Duffour and his Bank(Unibank),Duffour did similar when NDC was in Power to DataBank, I assume people didn’t know this cos how can you gamble your money under this,The Witch hunt when NDC also come to Power will be crazy.

— Juuju (@ikekofijnr_23) November 23, 2022

The databank / stanbic issues are absurd.. something needs to be done as a matter of urgency . Depositors needs explanation

— Willie Gravenberch (@Gucci_Poochi) November 23, 2022

DataBank is the worst investment bank in Ghana. I just lost a total 25,000ghc because of some nonsense and trash talk. @Databankgroupgh @DatabankRSRCH

I won’t advise anyone to ever do invest anywhere. Its not worth it. pic.twitter.com/OtEbXHr18U

— techplanetgh (@techplanetgh) November 22, 2022

SSD/MA