The Locked-up Investment Holders Forum has announced plans to start picketing at the Ministry of Finance from Wednesday, May 15, 2024.

They are urging the minister to allocate financial resources that would allow the Bank of Ghana to cancel the licenses of insolvent finance houses and savings and loans companies, thereby facilitating the reimbursement of investors' funds.

According to a statement from Dr. Adu Anane Antwi, the group's Convener, they have received assurances from the Bank of Ghana Governor, Dr Ernest Addison. The central bank has expressed its intention to revoke the licenses of the insolvent institutions, contingent on the Ministry of Finance providing the necessary funds for depositor reimbursements, similar to the actions taken during the revocation of licenses of certain Specialised Deposit-taking Institutions in 2017-2018.

The statement further reveals that on March 28, a petition was dispatched to the Ministry of Finance, requesting the Minister to release funds to cover the depositors' funds held by the insolvent Finance Houses and Savings and Loans Companies. This would enable the Bank of Ghana to proceed with the license revocations and subsequent payments to depositors.

However, the group has not yet received a response from the ministry.

They vow to continue their protest until their demands are fully addressed.