First Allied customers in Kumasi continue protest over locked-up funds

Business News of Friday, 28 September 2018



File photo: A First Allied Savings and Loans branch

Stranded customers continue to flood branches of the of the First Allied Savings and Loans Company Limited in the Ashanti Regional capital, Kumasi.

The customers continue to make efforts to recover their investments after they stormed the Manhyia Palace on Tuesday to petition the Asantehene, Otumfuo Osei Tutu II.

The angry customers were at the palace to get the Asante King to intervene in what they describe as management’s failure to allow them to make withdrawals. The customers are also unhappy with management’s refusal to come clean on the state of the financial institution.

Citi News visit to the Roman Hill and Pampaso branches of the First Allied Savings and Loans Company Limited revealed slow activities at the offices.

Customers continue to spend hours at the banking halls without any convincing response from management.

Tellers who usually sit at the counters to serve customers were not at post at the time of the visit.

But some of the workers were in the offices.

The developments at the institution dominated discussions among customers who trooped to the branches.

One of the managers who spoke off record says management was working to address the concerns of the customers.

Other branches of the firm have been met with agitation from customers.

In July, customers who visited the Adabraka branch in Accra were given less than 10 per cent of amounts they wanted to withdraw.

More recently, customers of First Allied Savings and Loans in the Upper East Region called Bank of Ghana (BoG) to investigate the management of the Bank over its inability to pay its customers for the past three months.

The customers besieged the Bolgatanga branch of the company demanding their unpaid investments.

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