I have been following the BoG, DKM and God Is Love financial rumpus with keep interest and l am indeed very worried about the current state of affairs and the utter failure on the part of government to address the issue giving the fact that people who have heavily invested in this macro finance and so called fun clubs are citizens of the state.
In the first place l don't think these institutions just started their operations without the knowledge of the BoG. They might have definitely been given license and certification to operate and have again been incorporated into the banking hub of the Republic.
According to the BoG these financial giants based in Brong Ahafo have flouted the banking act of Ghana hence their finances and other assests have been frozen pending investigation.
In the case of DKM, l learnt 90 days moratorium was placed on them which was further extended to extra 30 days. And in case of God Is love, l dont think the very people who have invested with them even know what is going a situation which has exacerbate the woes of the million customers.
This situation has brought untoward financial burden on most people in Brong Ahafo region as a result of this unfortunate development. There are several reports making the rounds that lot of people have committed suicide, others have their marriages crushed and even some church leaders are unable to account for tneir finances and have ran away because of this development.
Parents whose wards have secured admission into various tertiary institutions are unable to go because of this same problem.
In fact my visit to Brong Ahafo the last time revealed that the region has moved from being a hub of food and hope to a hub of desperation. The very picture on the faces of most people is utter despair.
Many shops have closed down because the owners have invested heavily in these institutions which have been rendered incapacitated by the BoG.
My question is if the BoG knew the operations and conducts of these institutions contradict the banking acts of the country why did they sit unconcern for the past 2--3 years creating a window of trust which succeeded to earn the public confidence and attracts investment.
Why is Bank of Ghana not coming out with any information regarding this development to calm the nerves of the victims whom the state has a responsibility to offer them some kind of financial security. Has Bank Ghana developed a sudden interest in their operations because their financial strength has hit the milestone?
Infact l am very disappointed in the Bank of Ghana. The modus operandi of the bank of Ghana and overwhelming financial authority they most of the time exercise without moral discretion and due process is a bleeding era for financial freedom in Ghana.
My frustration has to do with the government's indifference and utter silence over this serious issues affecting the lives of the people who by all considerations are citizens of Ghana .
Even if those financial institutions erred, must we punish the innocent people who have invested ? The actions of the customers have never flouted any regulation and hence they must not suffer.
For Christ sake the current administration is a social democratic government by ideology and must not supervise this kind of financial injustices against the very people they've taken a vow to protect.
Government need to appreciate the fact that a lot of people are wallowing in a pool of financial desperation and mentals crises and requires government's immediate response.
This would be the greatest service when renderd and the people in B/A would forever be indepted to government.
Many people hold the view that government is scheming to rob these poor people of their money to run upcoming 2016 election. Though l cast a serious doubt about this but government's utter silence and attitude of indifference gives such thoughts a lot of logical considerations. The political expediency are being harvested from the situation parading government as some kind of an insensitive freak and l expect government to remedy the situation quickly to the sinking population in B/A. If this situation is not resolved immediately it will become a propagandist tool and machinery which will work effectively against the electoral fortunes of the ruling government because some people have started cursing government and have vowed to ever vote against the NDC if they do not receive their money.
Unfortunately areas where this situation has affected lot of people is Nkoranza, the hometown of the first Lady of the state and looking at the slow pace at which the situation is being handled it doesn't look like the first lady is concerned with this development which has become a major headache of her own people and the people feel she has betray them.
I had the opportunity to visit Nkoranza, Techiman and Sunyani with a team to access the situation infact our discovery was shocking and quite bizzare.
In a case of Nkoranza almost every household have money invested in either DKM, God ls Love or Justa so you can appreciate the reality of the situation and the sort of financial interventions they people require and its urgency..
Lots of students cannot continue their education because their parents have invested their school fees with any of the two hoping for some good returns to ease their educational burden relating to finances.
Infact our team unraveled that lot of marriages have hit the rocks and several others have committed suicide and some have also ran away. What a horrible development in this modern day Ghana.
Government must stand and address the situation with urgency to curtail the damage.
Government must not try attempt to connive with the BoG and deny the poor people, a farming community of their legitimate entitlement because it
will be the greatest sin to the people whom many struggle to get even 2 square meals a day.
It's unfortunate the big men in the region have kept quiet on this issue when their people are faced with this crises.
Do we only need the people during elections? So pathetic .
This is the time Brong Ahafo needed its big people to do the bidding. Brong Ahafo needs a voice that must defend the people in times like this.
Because the government has not shown any genuine concern for the people, the chiefs and the people of Nkoranza have decided to boycott the upcoming district assembly elections because according to them, no authority or leadership has shown any real concern in the pursuits of their legitimate investment which currently stands a risk of slipping off into some people's pocket.
I honestly support their decisions and l think the whole of Brong Ahafo must show solidarity by boycotting this election . Infact l would be very much disappointed to see the people of Techiman, Sunyani, Berekum Dormaa amd Drobo where many are massively affected to take part in the upcoming district assembly elections. Infact Brong Ahafo should boycott the elections because if the leadership confidence is reposed in abandon you at the time you needed them most, you obviously become an article of frustration and there shouldn't be any need to queue and vote for people who cannot stand and speak for the good the masses.
The people do not fancy boycotting the elections but the crises situation have created a window for that because what is the use electing people who cannot intervene in situations like this.
I understand there are several ways the people could express their frustration without necessarily abandoning the elections but the severity of the situation commiserate that.
Going foward l think government must attend to the needs of the people of B/A immediately and save them from this financial mess because many people have lost hope with the anticipation that their lifetime investment is gone forever a fertile avenue to precipitate suicide.
The only solution is government must tickle the BoG to reverse this decision which has enslaved about millions of customers. Such interventions from government will repair and restore the damaged hope and confidence of the people and again go a long way to win the soul and the heart of these uncomfortable, emotionally bruised and financially injured individuals.
The customers have not broken any banking regulation hence they must not be subjected to suffer this kind of inhumane financial treatment.
Government must endeavor to save BA now or forever become the enemy of the region.
The choice is for government to make giving the fact that authority and the power to rule emanates from the people. The Bible ls My Witness !!
From Ivan Kyei Innocent / email@example.com / 0206262717