Nana Addo gov’t will never pay Menzgold customers – Bawumia

Vice President Dr Mahamudu Bawumia has serve notice indicating that, the Akufo-Addo led administration has no plans of paying aggrieved customers of Menzgold Company Limited their locked up money.

This comes after the National Democratic Congress (NDC) flagbearer, John Mahama, assured of his commitment to the customers as he makes his re-election bid.

Speaking on his campaign tour in the Tarkwa Nsuaem constituency on Tuesday, October 20, 2020, Mahama said “The man who took the money is there unbothered. When the Menzgold customers say they are going to demonstrate, police are sent to stop them,”

He assured that an NDC government would ensure the Menzgold customers were paid back their money.

“God willing the NDC government will come and when it comes, we will look into the Menzgold issues. Those who took your money, we will chase them, retrieve the money and share it to you,”

Reacting to this, Bawumia in an interview on Techiman-based Link89.1 FM in the Bono East Region said government will not use taxpayers money to settle 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.

He said, “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.”