Sell Menzgold assets to pay aggrieved customers – Anim

General News of Friday, 11 January 2019

Source: classfmonline.com

2019-01-11

Assets of management of Menzgold should be traced and sold to settle customers

The Director of Policy Initiative and Economic Development Daniel Anim has suggested that assets of embattled Menzgold must be traced and sold to settle customers.

He added that Government shouldn’t make any move to settle debts owed by the company.

The government on Thursday strongly stated that it will not pay any Menzgold customer with state money, urged aggrieved customers to seek redress in court as “Menzgold was not licensed by BoG or SEC and its operations were not regulated by BoG or SEC.”

A statement signed by the Information Minister, Kojo Oppong Nkrumah, said the customers since April 2016 ignored several warnings by the Bank of Ghana and the Securities and Exchange Commission not to do business with Menzgold.

According to government, even though it sympathises with the misfortune of the customers, it will only ensure that the CEO of the troubled gold firm Nana Appiah Mensah is arrested and prosecuted according to the laws of the country.

Speaking to Francis Abban on the Morning Starr Friday, Mr. Anim said “Gov’t shouldn’t take a step by trying to pay off the monies owed customers. If we pay off the monies locked up at Menzgold, we will be creating a culture where people will invest just anywhere knowing government will come to their aid in times of crisis.”

He added “the assets of management of Menzgold should be traced and sold to settle customers.”

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