Aggrieved customers of collapsed fund management companies and other financial institutions are expressing profound disappointment and mounting frustration over the government's perceived failure to fulfill its campaign promises regarding the reimbursement of locked-up funds. This intensifying sentiment follows recent comments by Finance Minister Cassiel Ato Forson, suggesting that the government currently lacks the financial capacity to settle the outstanding claims of customers whose funds remain locked up after the extensive financial sector clean-up.

During the 2024 general election campaign, then-candidate John Dramani Mahama made explicit pledges that an NDC administration, if elected, would prioritize their plight and compensate victims of the collapsed financial institutions. He specifically assured affected customers that all locked-up funds would be settled within its first year in office. This promise had significantly renewed hope among thousands of victims, many of whom lost substantial investments, businesses, and livelihoods following the collapse of several banks, savings and loans companies, and fund management firms, including prominent entities like Gold Coast Fund Management.

However, 16 months into the administration, customers report that no meaningful progress has been made, nor has a clear roadmap for payment been provided. The frustration escalated significantly with Finance Minister Cassiel Ato Forson's public statements. Speaking on the issue, Dr. Forson questioned whether the state should continue to assume responsibility for debts arising from privately managed financial institutions. He articulated, "The money must come from somewhere. Tell me, am I going to stop paying for school feeding? Am I going to stop paying capitation grant? Because the money must come from somewhere. Tell me, what am I cutting to pay the person who gave his investment to a private person to mismanage? So I have fundamental issues with that. I think government has no business going into that and taking those responsibilities to pay. In fact, we do not even have the money to do that." His remarks directly contradict the prior campaign assurances made by President Mahama.

The Convener of the Aggrieved Customers of Gold Coast Fund Management, Charles Nyame, has been vocal in expressing the group's profound disappointment. He stated that many affected customers now feel abandoned and betrayed by the administration, believing they relied on assurances made ahead of the elections. Mr. Nyame openly questioned the President's sincerity, remarking, "Most of our members are tempted to think that maybe the President lied his way through to the presidency." He disclosed that a formal letter had been sent to the Jubilee House, requesting clarity on the government's official position, but claimed they have yet to receive any response.

Aggrieved customers vehemently insist that the state cannot distance itself from the crisis. They argue that regulatory institutions, which are state entities, were responsible for licensing and supervising the affected companies. Mr. Nyame pointedly asked, "Who regulated the private-owned institutions? Who gave them the licences?" He further contended that warning signs about weaknesses within the financial sector existed even before the comprehensive banking sector clean-up undertaken by the previous administration, suggesting that customers should not be forced to bear the consequences alone.

In response to the perceived inaction and the Finance Minister's comments, aggrieved customers have threatened to intensify their protests against the government if no allocation is made for their compensation in the upcoming mid-year budget review, expected in July. Mr. Nyame warned that if their concerns continue to be ignored, customers would intensify pressure, stating, "With our consistent pressure through demonstrations, picketing, media campaigns and other means, if he positions himself like that, we will go and sleep at the Ministry with these dying old men." While acknowledging that many affected customers lack the financial means to pursue legal action due to the severe hardship endured, the group remains determined to use all lawful strategies to demand payment, asserting that "the only language politicians understand in this country is protest — and we will do it for them."