Summary: The former boss of the National Pensions Regulatory Authority in Ghana, Dr Daniel Seddoh, has urged the incoming government to revive collapsed financial institutions and convert customers' locked-up funds into equity to restore trust. Dr Seddoh proposed offering customers 20-30% of their locked-up funds upfront and converting a portion of the funds into equity for viable institutions. This would allow customers to become shareholders and provide them with an exit strategy, he said.
Dr. Daniel Seddoh urges the incoming government to revive viable collapsed financial institutions and convert part of customers’ locked-up funds into equity to restore trust.
Former NPRA Boss Dr. Daniel Seddoh has urged the incoming government to re-evaluate collapsed financial institutions from the 2018-2019 sector cleanup and restore those that are viable. He believes this would help rebuild public trust in the financial services industry and offer employment opportunities to skilled workers left jobless after the collapse.
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During the cleanup, many institutions went under, leaving customers with unpaid investments. While some customers have received partial compensation, others are still waiting.
On concerns that the incoming administration may struggle to meet their demands due to the country’s current financial challenges, Dr. Seddoh proposed a phased solution for the new government. He recommended offering customers 20-30% of their locked-up funds upfront, negotiating partial waivers, and converting a portion of the funds into equity for institutions deemed potentially viable. This conversion would allow customers to become shareholders, providing them with an exit strategy by selling their shares over time rather than demanding immediate cash payouts.
He further suggested that new investors could be brought in to support these revived institutions, creating opportunities to pay off customers turned shareholders who wish to exit. “Some of the institutions are not that bad,” Dr. Seddoh said, advocating for open dialogue between the incoming government and affected customers to find practical, long-term solutions.
Dr. Seddoh emphasized the importance of proactive engagement by the government, urging it to negotiate with customers before protests or agitation resume. He remains hopeful that with transparent discussions, customers would be open to these alternative solutions. “If we are learning lessons from the vote then government needs to be proactive. Look, the guys have been on the street for so long, people have died, what else are we going to wait for? At least the engagement should start very quickly”
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On finding money to pay the cash component of the faced approach he suggested, Dr. Seddoh said government can go for the financial sector recovery levy. “My humble advice, use that levy to solve some of these problems. So you would see that it is the same financial sector that is paying for these things”. He believes government can find money to pay the investors conveniently since it is just a portion of their investments that is being paid.
Last Updated on March 9, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
