First Allied customers grateful to gov’t, BoG after receiving locked-up cash

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Some excited customers of First Allied Savings and Loans company which is now defunct have praised government and the Bank of Ghana (BoG) for initiating steps that culminated in the retrieval of their locked up cash.

The happy customers, is told are not oblivious of the steps taken by the Bank of Ghana including regulatory actions which led to the retrieval of the locked up cash.

This comes on the back of fruitless attempts and efforts by the customers to get back their savings and investments in the once very active financial institution.

The customers recount how their inability to retrieve their investments adversely and seriously affected their marriages, education, lifestyle and health.

The woes of the customers began after the revocation of the licenses of a total of 23 savings and loans and financial houses.

Franklina Oppong, one of the happy customers of the collapsed firm who could not hide her excitement after receiving her funds, told Accra based Class91.3FM and Monitored by that she was shocked by the BoG’s action which led to the retrieval of her cash.

She intimated her resolve to consider reinvesting her money in the capital market.

She said “Today, I’m happy, I know for sure I’ve received my money. I’ll consider reinvesting my money but I’ll wait for a while before I start.”


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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