More than 300 members of the Ghana Mineworkers’ Union (GMWU) have marched to the premises of the Bank of Ghana (BoG) to demand the release of funds belonging to thousands of mine workers whose savings have been locked up in financial institutions regulated by the central bank since 2019.
The demonstrators, drawn from the Ghana Mineworkers’ Union under the Trades Union Congress (TUC), presented a petition to the Bank of Ghana, demanding urgent action to facilitate the retrieval and payment of the affected workers’ funds.
The union says more than GH¢350 million belonging to about 19,000 current and former mine workers remains inaccessible, with the prolonged delay causing significant financial hardship for workers and their families.
The demonstration forms part of renewed efforts by the union to compel the relevant authorities to resolve the issue and ensure that workers receive their life savings.
Presenting the petition on behalf of the mine workers, General Secretary of the Ghana Mineworkers’ Union, Abdul-Moomin Gbana, said the union expected the Bank of Ghana to take responsibility for protecting depositors and ensuring that their funds are recovered.
He maintained that the amount involved was substantial and represented the life savings of thousands of workers and their families.
“We are demanding every penny from the Bank of Ghana,” Mr Gbana said, stressing that the union would not relent in its efforts to recover the funds.
According to him, the union had initially mobilised about 100 to 150 members, largely made up of National Executive Council members, for the demonstration.
He, however, warned that the scale of future protests could be significantly larger if the concerns of the affected workers were not addressed.
Mr Gbana said the union could mobilise all 19,000 affected current and former members, together with their families, for a larger demonstration at the Bank of Ghana.
He explained that the locked-up funds were not merely personal savings but resources upon which entire families depended.
“We are coming with all the 19,000 members, both current and former. We are coming with our wives and our children,” he said.
He added that other relatives who depended on the workers’ savings could also join future demonstrations.
The Mineworkers’ Union expressed frustration over what it described as the prolonged period during which workers had been unable to access their funds.
The union argued that the Bank of Ghana, as the regulator responsible for maintaining confidence in the financial sector and protecting consumers, had a responsibility to ensure that affected depositors were not left without access to their money for years.
Mr Gbana said the union is therefore demanding decisive intervention to bring the matter to a conclusion.
He stressed that the affected workers had waited long enough and were expecting concrete action rather than further assurances.
The union believes the recovery and payment of the funds would provide much-needed relief to thousands of workers who have been unable to access their savings since 2019.
The petition was received on behalf of the Bank of Ghana by the Head of Legal at the central bank.
In response, the official acknowledged the concerns raised by the mine workers and assured them that the petition would be carefully considered.
The Bank of Ghana said it remained committed to maintaining financial stability, protecting consumers and safeguarding public confidence in the financial sector.
The official, however, noted that the funds in question were under the care of other regulatory agencies, suggesting that resolving the matter would require engagement with the relevant stakeholders.
“We hear your concerns,” the official told the demonstrators, adding that the Bank of Ghana would study the petition and engage the appropriate stakeholders.
The central bank assured the union that the concerns raised would be given due consideration and addressed through the appropriate channels.
The Bank of Ghana also commended the mine workers for exercising their democratic rights peacefully and in an orderly manner.
The official said the central bank remained open to dialogue with the union as efforts continued to find a resolution to the concerns raised.
The development comes as the Mineworkers’ Union intensifies pressure for the recovery of funds belonging to its members, with the union making clear that it expects tangible action following the presentation of the petition.
For the affected workers, the dispute remains a matter of urgency, as their savings have reportedly remained inaccessible for years.
The union has consequently urged the Bank of Ghana and other relevant regulatory authorities to work together to facilitate the release of the funds and bring an end to the prolonged financial uncertainty facing the affected mine workers and their families.
By 1960news.com
