The Upper East Regional Directorate of the Ghana Education Service is among depositors whose funds have been locked-up in the defunct DKM Microfinance.
The directorate is sighted on the list of published defunct DKM customers of the Bolgatanga Branch released by the liquidator on Tuesday, August 4, 2020.
It is still unknown why an institution such as the Regional directorate of Ghana Education Service invested money in DKM without dealing with government recognized banking institutions.
It is also unclear how the directorate’s locked-up funds at defunct DKM is negatively affecting its operations.
Even though the liquidator Jemima Oware scheduled August 4, 2020 for payment of depositors, A1 NEWS checks can confirm that, the liquidator has not commenced payments and planned.
In May, 2015, the Bank of Ghana (BoG) suspended the operations of DKM Diamond Microfinance Company Limited for violating the Banking Act.
The Financial Intelligence Centre (FIC) has frozen five accounts of the company, directing an immediate freeze of all debit transactions on any of the five accounts.
Although 93,000 customers have their investments locked-up in the collapsed DKM Microfinance, efforts are been made to settle the indebtedness of the company to its customers.