Vice President Dr Mahamudu Bawumia says government will not use taxpayers money to pay aggrieved customers of Menzgold.
According to him, customers of Menzgold do not deserve compensation because they failed to heed calls by regulatory agencies to stop doing business with the gold firm.
“Menzgold is not a licensed financial institution. We are talking about licensed financial institutions but if you set up your 419 institution and the Bank of Ghana warned repeatedly that people should not do business with Menzgold because they were not a licensed financial institution, so, you can’t use taxpayers’ money to pay locked-up funds of an institution that is not a licensed financial institution,” Dr Bawumia told Techiman-based Link89.1 FM in the Bono East Region during his recent tour there.
Mahama accuses Akufo-Addo of shielding Menzgold CEO
Flagbearer of the National Democratic Congress (NDC) John Mahama says he will pursue the Chief Executive Officer for Menzgold Nana Appiah Mensah popularly known as NAM 1, to retrieve held up investment of customers if he wins the December polls.
Speaking at Tarkwa-Nsuaem in the Western Region, Mr Mahama wondered why the Akufo-Addo government does not appear to be interested in confiscating the properties of NAM1 but rather venting their anger on customers.
“What is so special about NAM 1 that Akufo-Addo is shielding him? Why do you unleash the police on innocent customers while NAM 1 walks free,” he fumed.
He assured that his next government will thoroughly investigate NAM1 and his directors and use all legitimate means to retrieve the funds.