President John Mahama has refuted rumours that he and the First Lady, Lordina Mahama, are behind some fraudulent microfinance institutions in the Brong Ahafo region, particularly DKM.

Customers of DKM Diamond microfinance and ‘God is Love fund club’ are facing a hard time retrieving their funds as managers of the facilities are unable to account for them.

The BNI has subsequently arrested the owners of such facilities as part of investigations into their operations.

The Central Bank has also begun moves to revoke the licenses of some microfinance institutions for breach of its regulations.

Speaking at a press encounter at the Flagstaff House Tuesday, Mr. Mahama said it is unfortunate that some people are playing politics with the development.

“I don’t know DKM from Adam, my wife doesn’t know DKM from Adam. I only got to see him in the papers today after his arrest by the BNI but yet we are being linked to him.

”..If anybody promises I will give you 50 percent interest on your money, just know that he’s fooling you,” the President stated.

He also disclosed that the BNI has been instructed to go after properties and assets of such institutions. According to him, the Central Bank will soon start disbursing the remaining funds in the accounts of DKM and 'God is Love' to their aggrieved customers.