Ghana’s Vice President Dr. Mahamadu Bawumia has told customers of defunct Gold collectible company, Menzgold, to forget about their locked-up funds, because it is not part of government plans to pay the monies.
Speaking in an interview on a Techiman radio station as part of his visit to the Bono East Region, Dr. Mahamadu Bawumia indicated that government has never thought of paying those monies because the business was illegal.
He added that, customers of Menzgold resisted all the warnings by the Bank of Ghana and went ahead to invest their monies in a company which was not license.
Dr. Mahamadu Bawumia added that, those thinking Menzgold Customers will be paid, should begin having a rethink, because the customers of the banks which were duly registered have already been paid.
He added that government has so far injected huge sums of monies to save several depositors through the specialized deposit taking institution. He indicates that government cannot risk taxpayers’ money to pay the customers of ‘419’ Menzgold company.
“We are dealing with financial institutions which have been duly licensed. Menzgold has never been part of the licensed financial institutions in Ghana. We gave them several warnings not to save with Menzgold but they defied all those cautions. We have already paid over four million of the affected customers. We cannot use taxpayers’ monies to pay monies of financial institution which is not legal under the financial institution laws of the country”. Dr. Mahamadu Bawumia noted.
