Finance

Go to CBG for validation and payment – SEC to customers of Gold Coast, others

The Securities and Exchange Commission (SEC) has asked customers of the collapsed fund management firms to visit CBG branches from Tuesday to validate their documents in order to receive payments.

According to the Deputy Director-General for SEC Paul Ababio, customers will receive text messages showing them the processes to receive their monies once their documents are validated.

“In terms of the way forward, we are working with CBG to ensure that investors can file their claims from tomorrow at CBG branches and once we’ve done the validation, we will make some funds available and that will also be announced to the general public,” he told Francis Abban on the Morning Starr Monday.

He said the initial payments will only cover the principal of customers.

Also reacting to claims by the founder of Gold Coast management fund Dr Paa Kwesi Ndoum that SEC refused to help him retrieve his locked up funds from the government, he said SEC is not a debt collector.

“Our role is not debt collection. Our role is to ensure that the industry is behaving properly.”

Mr Ababio confirmed the receipt on the letter to help in the retrieval of government debt but after analyzing the issues, SEC realized the debt was complicated as some of the debt liabilities were borne by the defunct GN Bank.

 

Source: starrfm.com.gh

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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