The University of Media, Arts, and Communication-Institute of Journalism (UniMAC-IJ), formerly known as the Ghana Institute of Journalism, has revealed that GH₵11 million of its investment is currently locked up with NDK Financial Services due to the banking sector cleanup exercise.
According to UniMAC-IJ’s management, they have so far managed to recover GH₵200,000 of the total investment.
Speaking to the Public Accounts Committee (PAC) on Tuesday, August 13, the Director of Finance at UniMAC-IJ, Francis Obeng, mentioned that NDK Financial Services has been unable to make any further payments beyond the GH₵200,000 already received.
“By the grace of God, we were able to recover GH¢200,000 and then the letter that followed the payment was that the institution is going through crisis because of the situation we find ourselves within the financial sector.”
“So we should bear with them to be able to honour our commitment. We waited up to the end. Beyond the GH¢200,000, we couldn’t get any additional redemption requests being honoured from them,” he stated.
