The Securities and Exchange Commission (SEC) is expected to commence payment of locked-up investments from September this year.
This will, however, cover 22 firms that it has been able to validate claims of its depositors.
This was contained in an official release from the Commission on work done so far to honour these payments.
"Out of the 50 companies whose licences remain revoked, three did not have any claims filed against them, leaving 47 companies against whom claims were filed by affected clients.
"As at 26th August 2020, a total of 98,820 claims valued at ¢10.83 billion have been received. The Commission has full access to the records of forty 40 of these companies, partial access to one company and no access to the remaining six companies," it said.
It added that validation of the claims filed by the clients of the 40 collapsed financial institutions "where we have full access to their records has been completed."
The Commission said it had partial access to records from Blackshield Capital Management Limited (formerly Gold Coast Fund Management Limited) as the company provided Excel data representing about 3% of claims filed by their clients.
It explained that Blackshield Capital Management Limited initially failed to assist in locating the server for validation of the remaining 97% of claims until the intervention of law enforcement agencies.
Validation is for the rest of the customers is ongoing, the Commission disclosed.
The claims filed against Blackshield Capital Management Limited totalled 82,204 and valued at ¢4.65 billion.
Latest Stories
-
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
5 mins -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
23 mins -
IPR Ghana@50: Pupils educated to keep the environment clean
29 mins -
PenTrust CEO named ‘Best Pensions CEO’, company wins ‘Scheme Administrator Award’ at Ghana Accountancy & Finance Awards 2024
49 mins -
Alan Kyerematen’s ‘Brighter Future for Health Professionals’ in Ghana Revealed in Bono
59 mins -
#TheManifestoDebate: NPP will ensure a safer, cleaner and greener environment – Dr Kokofu
1 hour -
2024 Election: Police to deal with individuals who will cause trouble – IGP
1 hour -
Seychelles President’s visit rekindles historical and diplomatic ties with Ghana
1 hour -
Election 2024: EC destroys defective ballot papers for Ahafo and Volta regions
1 hour -
2024 Election: I am sad EC disqualified me, but I endorse CPP’s candidate – PNP’s Nabla
2 hours -
I want to build a modern, inclusive country anchored by systems and data – Bawumia to CSOs
2 hours -
Miss Health Ghana 2024: Kujori Esther Cachana crowned new Health Ambassador
2 hours -
Playback: The manifesto debate on WASH and climate change
2 hours -
Alan Kyerematen saddened by NDC and NPP’s neglect of Krofrom Market in the Ashanti Region
2 hours -
CSIR Executive Director urges farmers to adopt technology for improved farming
2 hours