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General News of Saturday, 12 January 2019


We don’t want taxpayers’ money – Menzgold customers clarify

Menzgold customers say government’s statement on Thursday that it will not use taxpayers’ money to settle them was unnecessary.

Samuel Odartey, Secretary of the Aggrieved Customers of Menzgold in Accra, an association of customers of the embattled gold dealership firm, said on Friday that the public and government may have misconstrued their demands.

“All we are saying is that government has the power to make sure it brings back the CEO, Nana Appiah…let the law deal with him so that they put structures in place and pay our monies back.

“Those things on the airwaves that the government won’t pay [us]…we didn’t say the government should pay us…from day one, no client of Menzgold said ‘use taxpayers’ money to pay us’. That wasn’t the issue,” Mr Odartey told Daniel Dadzie, host of the Super Morning Show on Joy FM.

Thousands of customers of troubled Menzgold have their capital and dividends locked up as the fate of the company hangs.

An arrest warrant has been issued for Chief Executive of the Company, Nana Appiah Mensah (known also as NAM1), and other top executives working within his string of business establishments.

A spokesperson for Menzgold has revealed that the company’s CEO has flown out of the country to work and repay customers’ locked up investments.

Nii Armah Amarteifio denied suggestions that his boss has absconded with investor funds, leaving workers to bear the brunt of angry customers.

He explained that NAM1 has only gone out of town is in search of money to pay the customers their investments.

However, reacting to this assurance, the Secretary of the Aggrieved Customers of Menzgold in Accra said that information is a hoax.

He said since September 2018 when the firm started defaulting in paying dividends and on investments, it has been one promise or another.

“He brought out a schedule to pay but he didn’t go by them. He turned around and took 5% from people that he is migrating them to an online platform that one too couldn’t work and you want us to believe what you are saying. We don’t believe in it,” he said.

It is estimated at least GH¢200 million of customers’ funds have been locked up with the controversial gold dealership firm.