News
Govt releases GH₵700m to customers of collapsed fund management companies
The Minister for Finance, Dr. Mohammed Amin Adam, has announced the release of GH₵700 million to customers whose funds have been locked up in various fund management companies.
This amount represents the first tranche of a GH₵1.5 billion allocation, as outlined in the 2024 mid-year budget review, which is aimed at providing relief to individuals affected by the collapse of these fund management companies.
Speaking during a monthly economic update at the Finance Ministry on August 29, Dr. Amin Adam confirmed that the payments will be made in three tranches.
According to him,“We had indicated in the 2024 mid-year review of fiscal policy that the government has approved the disbursement of an additional GH₵1.5 billion to provide relief and bailout to people whose funds have been locked up in fund management companies.”
The Minister further explained that the first tranche of GH₵700 million has been processed and released to the Securities and Exchange Commission for further distribution to affected customers.
The remaining 800 million Ghana cedis will be released in two subsequent tranches.
Dr. Amin Adam emphasised that the release of funds is intended to mitigate the stress on affected individuals and provide much-needed relief.
He said, “I’m glad to inform you that the Ministry of Finance has processed the release for the first tranche of 700million Ghana cedis of the additional GH₵1.5 billion for the Security and Exchange Commission to further bail out the remaining customers whose funds were locked up including Black Shield Funds Management customers.”
“Yesterday, I instructed the Controller and Accountant General to release the funds to mitigate the stress on affected persons. The 1.5 billion cedis will be released in three tranches,” he concluded.
Source: Citinewsroom.com
News
Upper West Regional Police Command secures conviction against notorious robbers
The Upper West Regional Police Command is pleased to announce the conviction and sentencing of Abdulai Ibrahim alias Baba, 34 (Driver Mate) and Abdulai Kipo, 36 (Butcher), for their involvement in conspiracy to commit crimes to wit robbery and robbery.
The duo were found guilty and sentenced to 28 and 18 years imprisonment in Hard Labour, respectively.
The accused persons were implicated in a series of robberies across the Napogbakole, Danko, SSNIT, and Konta areas of the Wa Municipality.
Their arrest and conviction were made possible through intelligence-led investigations and meticulous gathering of evidence by the Regional Police Intelligence Directorate.
The conviction and sentencing were carried out at the Wa Circuit Court, presided over by His Honour Jonathan Avoogo.
The court’s verdict underscores the Command’s commitment to ensuring justice and safety in the region.
The Upper West Regional Police Command reaffirms its determination to make the region safe for peaceful coexistence and will continue to work tirelessly to combat crime and protect its residents.
News
Police arrest two suspects for possession of suspected narcotic substance at Ayi Mensah
The Ghana Police Service has arrested two suspects for possession of eleven (11) large compressed sacks of a substance suspected to be narcotics at Ayi Mensah in the Greater Accra Region.
The suspects, Mathew Narkotey and Augustine Teye, were arrested by a team from the National Operations Department (NOD) on June 7, 2025 during routine patrols. The suspects were onboard a Mazda pick-up truck with registration number GT 3490-P when a search uncovered the suspected narcotic substance concealed in the vehicle.
The vehicle and the suspected substances have been impounded and are currently secured at the Joint Operations Centre for evidential purposes.
Both suspects are in police custody assisting with investigations, while efforts are underway to arrest one Martey, named by the suspects as the intended recipient of the consignment.
