Collapsed microfinance and S&Ls: Customers demand review of mode of payment by receiver

Some customers of defunct microfinance and savings and loans companies are demanding a review of the mode of payment applied by the receiver barely a week after payments began.

The customers, who received their notification messages, say they have been told by the bank that those who have funds beyond GHc70,000 will receive GHc 50,000 in cash, and the rest will be issued in a five-year bond. But the customers say this will not be helpful.
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