Customers of Nordea Capital demand payment of locked-up investment

Some customers of Nordea Capital, an investment bank licensed by the Securities and Exchange Commission, this morning besieged the premises of the company near Kawukudi Junction in Accra to demand their locked up investment.

The customers say they have tried and failed severally despite attempts to get their monies back through the regulator, SEC.

“For almost a year and a half, they have refused to pay back my investment. I invested Ghc2,000. The boss is not even picking our calls and this has left me restless. It is very bad,” said Juliana Adu Sarpong, a customer.

Another customer Alexander Adjei said: “I have invested money here. For over two years now they keep tossing me about and refuse to give me my money. Most of their staff have also resigned which even makes me more worried. Now I have told them I only want my initial investment without any interest and still they have not been forthcoming”.

Meanwhile, the customers say SEC is yet to respond to their letter to them on the way forward.

Apart from Nordea Capital, other investment banks have been struggling to meet obligations to customers. Notable among such firms is Gold Coast Securities which insists that its funds are locked up in credit advanced to contractors executing government jobs.

The regulator, SEC, recently stated that it has placed a moratorium on the issuance of fresh licenses to investment banks as it bids to clean up the capital market sector.

Citibusiness News