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General News of Tuesday, 8 January 2019


No bailout for Menzgold customers - Government

Government has no intention of bailing out customers of beleaguered investment company, Menzgold.

Minister of Information, Kojo Oppong Nkrumah has urged the customers to follow appropriate legal processes to get their monies back.

His comment follows growing calls by some customers for compensation from government if Menzgold fails to refund investments.

Scores of disgruntled customers of Menzgold from across the country on Tuesday, January 8, 2019 converged in the Ashanti Region to stage a demonstration to demand their locked-up investments.

They burnt car tyres and blocked roads linking Adum and Amakom, both suburbs of Kumasi, a situation that resulted in hours of gridlock.

The angry customers also defied a warning by the Ashanti regional police not to go ahead with the protest.

Speaking on Asempa FM’s Ekosii Sen programme Tuesday, Kojo Oppong Nkrumah blamed the customers for not dong due diligence before investing their monies.

He cited how the customers of Menzgold ignored warnings of Securities and Exchange Commission to buttress his point.

The only option, Hon. Oppong Nkrumah said is for the aggrieved customers to seek legal redress.