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Press highlights assurance by SEC to clients of collapsed fund companies, others

The promise by the Securities and Exchange Commission (SEC) that all affected clients of the collapsed 47 fund management companies…

The promise by the Securities and Exchange Commission (SEC) that all affected clients of the collapsed 47 fund management companies will receive their money in full is one of the leading stories in the Ghanaian press on Tuesday.The Graphic reports that the Securities and Exchange Commission (SEC) has assured all affected clients of the collapsed 47 fund management companies that they will receive their money in full.

The commission has therefore urged them not to panic, as it is going through all the processes to ensure that they receive their money.

Addressing the media on the progress made so far, the Director General of SEC, Rev. Daniel Ogbarmey Tetteh, said the government had made provisions to cover all validated claims with the recent additional allocation of GH¢5.5 billion in the 2021 Budget to support the clean-up exercise in the industry.

“Hence, there is no need for any affected client to panic because of the protracted court liquidation process. We wish to appeal to all affected clients to patiently follow through with all relevant processes to redeem their claims and rely only on information provided by the SEC and the official liquidator,” he stated.

He said the commission would continue to proactively update customers on the full status of the bailout implementation programme.

Giving an update on the liquidation order, Rev. Tetteh said the courts had granted 37 liquidation orders to the official liquidator (the Registrar-General) as of March 31, 2021, out of the 47 Fund Management Companies with claims from investors after the revocation.

He said virtual creditor and class meetings had been held by the official liquidator for clients of 34 of the companies.

The SEC Director General indicated that out of 100,898 claims received against the 47 companies valued at GH¢11.70 billion, a total of 100,700 claims valued at GH¢8.31 billion were validated as of March 31, 2021.

The newspaper says that the National Security has busted a 13-member gang involved in the printing and distribution of fake currency notes to unsuspecting victims, mostly foreign nationals.

A statement issued by the National Security Secretariat said the gang, led by one Yassei Alia, a 45-year-old Syrian resident in East Legon, and owner of Hardford Auto Service in Accra, together with Danjuma Zakaria, alias Alhaji Mohammed, 49 and resident of Tema West, were rounded up in a warehouse within the premises of NacCharter Cargo and Freight Company, near KLM offices within the Kotoka International Airport, on Monday, April, 27 at around 1730 hours.

Freshly printed $10,000 bundles of fake $100 notes concealed in two large metal trunks and a suitcase were retrieved from the warehouse.

The statement said the amount was estimated to be over five million United States Dollars (USD).

Other suspected accomplices arrested during the operation include Esther Omozeea, Emad Aldalhi, Kamal Mohammed, Abdulai Yakubu Osman and Samuel Ababio.

The remaining are John Denyo, Desmond Delali Dumenu, Alike Happiness, Prosper Chukwu, Victor Israel, Padi Christian Holdbrook.

It said in their caution statements, Yassei and Mohammed, who drove to the warehouse in the former’s car, denied knowledge of the deal.

It noted that however when questioned separately, Yassei, who held a Syrian passport, a Republic of Guinea-Bissau diplomatic passport, and a Nigerian national driver’s licence issued in Ogun State, indicated that he had gone to the warehouse to have a discussion with one Kojo, an alleged cargo dealer and operator of the premises, regarding a V8 engine the latter was to import on his behalf, while Alhaji Mohammed stated that he had gone to solicit for financial help from Kojo to enable him procure a vehicle from Holland.

The Times reports that Ghana will today join the rest of the world to mark this year’s World Press Freedom Day (WPFD).

The event would be spearheaded by the Ghana Journalists Association (GJA), at the Ghana International Press Centre, in Accra, according to a press statement, issued and signed by the Vice President of the association, Linda Asante-Agyei, yesterday.

She said that this year’s celebration will provide a platform to dialogue on issues within the Ghanaian media space, including media freedom and COVID -19 and media ownership and regulation.

Other topics to be discussed are new media/traditional media, safety of journalists amidst a polarised environment, broadcasting bill and switching from analogue to digitalisation technology.

This year’s WPFD marks the 30th anniversary of the UNESCO Windhoek Declaration, for the development of a free, independent and pluralistic press, which led to the recognition by the United Nations (UN) of the WPFD, to be celebrated every May 3.

Celebrated annually on May 3, the event is to observe the fundamental principles of press freedom, evaluate press freedom in the world, and defend the media from attacks on their independence.

It is also to pay tribute to journalists for their efforts and struggle in the exercise of their profession.

This year’s celebration is on the theme “30 Years after the Windhoek Declaration: Information as a Public Good.”

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