Vice President Dr Mahamudu Bawumia has stated the government will not pay customers of Menzgold.
He said the government will not use taxpayers money to settle aggrieved customers of Menzgold because it is ‘419’ company.
He posited the aggrieved customers do not deserve compensation because they failed to heed calls by regulatory agencies to stop doing business with the gold firm.
“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,” he told Link89.1 FM in the Bono East Region during his recent tour there.
He was reacting to the promise by former President John Mahama to investigate the CEO of Menzgold, Nana Appiah Mensah.
Speaking at Tarkwa-Nsuaem in the Western Region, Mr Mahama accused the NPP government of protecting NAM 1.
“What is so special about NAM 1 that Akufo-Addo is shielding him? Why do you unleash the police on innocent customers while NAM 1 walks free,” he asked.