Thursday, March 30, 2023
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Customers of First Allied Savings & Loans stranded over locked up cash

Customers of First Allied Savings and Loans have been left stranded as they are unable to withdraw money from the company.

A visit to the Adabraka branch revealed that customers are given less than ten percent of amounts they wanted to withdraw.

Some of them who spoke to Citi Business News said all efforts to withdraw money from the bank have proved futile.

One customer said managers offered to give her GHS 50 from the GH¢10, 000 she wanted to withdraw.

Read: First Allied deny ties with Kwesi Nyantakyi

“My supplier in Western Region who has an account with the bank asked me to deposit GH¢10, 000 into his account so that he can use it to by my produce and send to me for shipment. So I did that two weeks ago hoping he could withdraw the money the same day, but for two weeks now we have been chasing this money, now they want to give me GH¢100 from the 10,000,” she lamented.

Another customer also told Citi Business News that he was offered GH¢50 today after several visits to the bank to withdraw GH¢10,500.

Read: ‘Kwesi Nyantakyi’ causes panic withdrawals at Savings & Loans Company

“I have been here more than five times since last week, for my money. Because I know they wouldn’t give the amount I want, I asked them to give me GH¢1, 000. But they said they will not get the GH¢1,000 unless GH¢50. But I won’t accept that, today if they don’t give me the GH¢1,000, I will not go.”

Officials of the branch who wouldn’t speak on record explained that they are unable to pay customers due to limited funds caused by panic withdrawal that has hit the company since last month.

They attributed the massive withdrawal to rumors that the company belonged to the embattled former GFA boss Kwasi Nyantakyi.



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