NDC blames Akufo-Addo for Menzgold saga

Sammy Gyamfi

Sammy Gyamfi

THE National Democratic Congress (NDC) has blamed the government of President Nana Addo Dankwa Akufo-Addo for the woes of Menzgold customers.

According to the party, the many acts of endorsement and advertisement of Menzgold and its Chief Executive Officer (CEO) Nana Appiah Mensah popularly known as NAM1 by the government would be linked to the predicaments of the customers.

The National Communications Officer of NDC, Sammy Gyamfi said this at the second edition of its press conference dubbed ‘Moments of Truth’ held at the party’s headquarters in Accra yesterday.

According  to Mr. Gyamfi,  the open endorsement of NAM1  and Menzgold  by the  government enhanced the credibility and legitimacy of the company in the eyes of the public and encouraged many people to invest  with the company even after the Bank of Ghana  had cautioned against its activities.

He said though state institutions like the Bank of Ghana (BoG), Minerals Commission, Precious Minerals Marketing Company (PMMC) and Securities Exchange Commission (SEC) continued investigations into the illegal deposit-taking and capital market activities of Menzgold, government endorsed and promoted its activities.

With what he claimed were pictorial and video evidences, Mr Gyamfi indicated that the Akufo-Addo led adiminstration acknowledged and honoured NAM1 and his businesses as genuine ventures.

He  said on  August 26, the  Entrepreneurs Foundation of Ghana and its Ghana Business Quality Awards organised under the auspices of the Ministry of  Finance bestowed on  Menzgold  a quality  Business award.

According to him, at the eighth Ghana Entrepreneurs and Corporate  Executive Awards organised by EFG in April 28, 2018 in collaboration with the Ministry of Trade and Industry and Ministry of  Business Development, awarded  NAM1  as the  best  Business  Executive  for  2017.

“These activities lured and wooed unsuspecting Ghanaians to invest with Menzgold,” he insisted.

He however questioned the closure of Menzgold asking “how did   this government close down the activities of Menzgold and how has it managed the aftermath thereof?”

Mr. Gyamfi  also wondered if  government tracked  the accounts  and assets  of the company, its  directors  and  shareholders  both locally and internationally  to  decide on how to  retrieve  the investments  of  the  customers.

He again questioned the investigations of Economic and Organised Crime Office (EOCO) since the activities of Menzgold began adding that, “We submit EOCO only acted after the NAM1 horses if not elephants had left the stable.”

He said the stance of government on the matter was “irresponsible, insensitive and unconscionable,” adding that various accounts from various state actors have been inconsistent and contradictory.

He  pledged the NDC’s support  for the  customers  saying, “ We wish to register our profound  sympathies  to the victims  in  these  hard times  and  wish to  comfort  and assure them  of our unwavering  support  towards  the  struggle to ensure  that the  government  retrieve and restore  their losses”.

Mr. Gyamfi said government has the constitutional duty to protect the citizens and safeguard their interests including their economic rights at all times.

He therefore urged government to take steps and ensure that Menzgold customers were paid their monies.

BY JEMIMA ESINAM KUATSINU AND YUNUSAH ESSANDOH

 

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