Affected public servants to submit new bank details to CAGD …following collapse of S&L and Finance House companies

The Controller and Accountant General’s Department (CAGD) has requested government employees whose salary accounts were with the recently collapsed Savings and Loans and Financial House companies, to open new bank accounts with any bank of their choices and submit details of same.

The directive follows the revocation of licences of some Savings and Loans and Financial House companies by the Bank of Ghana last week.

A press release signed by Kwasi Kwaning-Bosompem, Acting Controller and Accountant-General noted: “Subsequent to the revocation of licences of some Savings and Loans companies (S&L) and Finance House companies by the Bank of Ghana, through which, salaries of some public servants are paid, the Controller and Accountant General’s Department requests the affected government employees to open new bank accounts with the bank of their choices and submit the new account details to their respective MDAs for capture.

The MDA’s shall in turn submit such bank accounts information received from the affected staff to the Payroll Processing Division of the Controller and Accountant General’s Department for loading onto the Payroll System to enable the employees access their salaries.”

The exercise, according to the release, forms part of measures put in place by the Department to protect the income of the affected employees.

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The statement also invited all third party institutions who were affected by BoG’s measures to also submit their new bank details to the CAGD for the payment of deductions held on their behalf by the Department.

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