President John Mahama has denied connections with DKM Diamond Microfinance; a company that is in trouble for running a ponzi scheme.
Customers of DKM Diamond microfinance and another within the Brong Ahafo region; God is Love fun club have been demonstrating as well as appealing to various authorities to help them retrieve their money. They have had a hard time pursuing their businesses as many of them say their capital is locked up with the institutions.
The President, in a press conference Tuesday, lamented “I don’t know DKM from Adam, my wife doesn’t know DKM from Adam. I only got to see him in the papers today after his arrest by the BNI but yet we are being linked to him”.
The BNI has arrested the owners of such facilities as part of investigations into their operations.
The Central Bank has also begun moves to revoke the licenses of some microfinance institutions for breach of its regulations.
President Mahama also cautioned against financial institutions that promise to pay outrageous interests on monies deposited with them.
”…If anybody promises I will give you 50 percent interest on your money, just know that he’s fooling you,” the President stated.
He also disclosed that the BNI has been instructed to go after properties and assets of such institutions and hinted that the Central Bank will soon start disbursing whatever is left of the funds in the accounts of DKM and ‘God is Love’ to their aggrieved customers.
