Staff Of Defunct UT, Capital Banks Petition Akufo-Addo Over Exit Pay

Former Staff of defunct Capital and UT banks have petitioned the Presidency over non-payment of their exit pay.

According to them, the Central Bank and finance ministry have shown little concern to their plights.

For eight months, more than 50 percent of the staff who were laid off have not been told when they will receive their exit pay.

The body negotiating the severance packages for the staff of the defunct banks last months served notice it was unable to tell when the payment will be made.

The Bank of Ghana revoked the two banks’ licenses due to severe impairment of capital on August 14, 2017, and appointed Messrs Vish Ashiagbor and Eric Nana Nipah – both Directors of PwC – as Joint Receivers for the purpose of winding-down the two banks’ affairs.



The joint receivers are yet to know the worth of assets of the defunct banks – a development integral to planning the retrenchment packages, Starr business has gathered.

GCB Bank was authorised by the Bank of Ghana to take over management of the defunct banks under a Purchase and Assumption Agreement.

Speaking to Starr business Tuesday, one of the leaders of the group, Philip Yawson said they believe the president will act swiftly on their concerns.

“I am of the full conviction that the presidency and then those that matter and the finance Ministry, the Labour Ministry and the Joint Receivers as well, will listen to them,” he told Starr Business’ Osei Owusu Amankwaah.

“We are just pleading in this case,” he added, saying “we as staff we were clueless about whatever happened…and that inasmuchas they are staff, they find themselves vulnerable as the customer and since government has come to the aid of the customer, we are of the view that government should come to our aid as well.”

Source:Starrfmonline.com