Ewutu Emasa Rural Bank In Trouble�As Clients Threaten To Sue Over Fraud

A staff of the Metro Mass Transport, Alfred Fosu Nyame, has threatened to sue management of Awutu Emasa Rural Bank in the Greater Accra Region over what he described as attempts to defraud him through a questionable banking transaction. He said a loan of Gh�, 2000, he secured from the bank in 2012 with a 30% interest rate has jumped to GHC 4,400 with no reason. Speaking to the New Crusading Guide in an interview Mr. Alfred Fosu Nyame said, as a client of the Awutu Emasa Rural Bank, he approached the bank for a loan in 2010 to tackle some pressing needs and was agreed by the bank with an annual percentage rate of 30%. �They started deducting the loan from my salary immediately I received it. Notwithstanding, I paid the loan continuously for a period of eight months until I had a problem with my employers. In 2011 I had a problem with my employers, that�s Metro Mass Transit who terminated my appointment after I requested for a study leave�. He narrated �After resolving the issue, I was recalled by to the company and as a result, I went to the bank to negotiate for repayment of the loan which the bank agreed. I then began to settle the debt. However, the bank called me three months later to inform me that a sum of GHc1, 500 has been added to the principal amount. I reported the issue to my lawyer who is also in charge of legal affairs at Metro Mass and he approached the Managing Director over the issue, but he could not give any reason why the money has been added to the principal loan�. Mr Fosu Nyame stated that most of his colleagues who went for loans with the Awutu Emasa Rural Bank have suffered terrible treatments in the hands of the bank officials with regard to the continuous appreciation of the interest on their loans by the bank. �This has forced them to switch When contacted, the operations Manager of Awutu Emasa Rural bank noted that he has not been cleared by the bank to speak to this reporter, he said the issue is being dealt with by the lawyers of Mr Alfred Fosu Nyame and the bank. �You are a journalist and I am not supposed to talk to you on phone. Find time to come here or see our directors for further information. Thank you� he stated.