The Republic Editorial: DKM Settlement Commendable

by | Oct 19, 2016 | Articles, Features | 0 comments

The cries and woes of customers of DKM Financial Services, who have been swindled in a financial scam, have finally been answered.

The NDC government has started, fromMonday, making payments to victims of the financial scam some part of their investments. The Republic commends government for coming in to save the situation from going worse even though not all their investments have been returned.

The opposition New Patriotic Party (NPP) disgracefully used the DKM scandal to score cheap political points to the point of drawing the First Lady Lordina Mahama’s name into it. She was accused of being the owner of the company that perpetuated  the fraud that shattered many dreams.

Now that government has seized the assets of the owners of DKM and gone ahead to start paying part of the monies of the victims to them, what has become of NPP’s  lies and propaganda?

The Republic believes the Bank of Ghana’s  monitoring and inspectorate division must step up its game by ensuring that this sort of scandal does not befall the nation again. All this could have been avoided if the BoG had creditably exercised its oversight responsibilities over  the activities of micro finance companies across the country.

What is worrying is that the fraud is not limited to DKM alone but other microfinance companies across the country which have swindled our people. While The Republic expresses its reservations on the matter,the people who also invested in these scams with the hope of making supernormal profits are to be blamed to some extent.

This should serve as a lesson to all that there is no shortcut to riches. Any future investments to be made by anyone into any financial institution promising heaven and the moon must be investigated and the right questions asked before final commitments are made

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