“The statement that came out was not what Menzgold customers were expecting from government. We were expecting a solution in tackling this issue rather than giving advises…we are never happy about the statement brought up by the president. This issue has affected a lot of customers…we’ve recorded so many deaths and others are on their sick beds.”
The above are remarks from some aggrieved customers of defunct gold dealership firm, Menzgold, expressing disappointment in President Akufo-Addo over comments he passed in relation to the company when the latter read his third State of the Nation Address (SoNA) in Parliament on Thursday.
It appears the disgruntled customers were looking forward to "a solution in tackling this issue” and not words of counsel.
The President on Thursday called on Ghanaians to pick lessons from the Menzgold saga.
“This is a tragic phenomenon that appears to have occurred in plain sight, and affected a lot of people, in spite of warnings from official institutions,...as the authorities try to unravel the intricacies of what happened, I admonish all Ghanaians to learn the necessary lessons for the future, even as State institutions work to bring a resolution to the matter, and those who are seen to have indulged in criminal activities, are brought to justice,” he said.
But Timothy Binob, Spokesperson for the Coalition of Aggrieved Customers, believes thepresident could have done better.
He said government institutions are to be blamed for their current predicament; hence, the need for government to help them in retrieving their monies.
According to him, “we were expecting President to tell us a specific date we will be collecting our monies because it was through government intervention that has brought, we the customers into this situation. The mess was created by the institution of government which did not do their work well…and that is making customers suffer today”.
“Government has a duty to protect our investment; to make sure that every financial institution is properly licensed before it comes into being. Did Menzgold come from a vacuum? They were licensed and this company was in the system for five years…what were they (authorities) doing when they could have stopped them long time since they had no license to operate. Until we get our monies from government, he (Akufo-Addo) is not receiving any applause from us.”
Source: Peacefmonline.com/Ghana
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You customers of Menzgold told the whole public that you deposited Gold.So why are worrying the government to money to you. Pls kindly go for your gold from Menzgold.
They should bring out the licence which government gave to Menzgold to take deposits and take interest. You people speak ***barred word*** as if you have a contract with government. You think we are going to sit down and allow our tax to be used in reimbursing you. When NAM 1 was spraying cash on you at his sister's wedding where were you. Get off our backs and know that your money is losy forever.
when you were chopping your interest, did you tell us? the government has taken a good decision. you were advised and you never took it. learn from it.
You want Nana Addo to pay you money you invested in a ponzi scheme but when he advises you as did other state agencies you are saying he should keep his counsel. You cannot want his money or dare i say the state's money but reject any wise counsel from the state. How do you expect to make progress in life with that attitude? You risk losing all public sympathy when you behave like that.
There is no precedence here! DKM was license by Bank of Ghana that make BoG responsible for their operation. Because BoG had supervisory role. But with Menzgold they were operating illegally and I remember when government cautioned customers, they jump to Menzgold defense. Government has no action to take in terms of reimbursement. What government can do is to sell Menzgold assets and share among the costumers. If government should use the taxpayers money to pay costumers, I will go on one man demonstration.
The problem is when you set a precedent by paying customers of DKM,it becomes difficult to justify why you should not pay Menzgold customers. Both DKM and Menzgold customers invested in Ponzi Schemes.The difference is that one occurred when the president was in opposition and desperate for votes so can promise anything even if it is economically unreasonable and the other when is is now in charge and faced with realities. More to the point when some of the customers claimed they invested because of the tacit endorsement of NAM 1 by the president and the influence of the avalanche of celebrities who were brand ambassadors for which the authorities put a blind eye to.It is very difficult now to remove government complicity directly or indirectly.
Some of us have also formed a coalition to resist the government when she makes attempt to pay the Menzgold customers with taxpayers money.If government pays then. there will be a precedent and in future somebody will stake lotto from the NLA and if they do win they will ask government pay them. We do not pick mushrooms from the high street and if you want to catch porcupine go to the thick forest.
In as much i dont like our president nd his leadership style, this menzgold customers are becoming nuisance to government. What do u want the president to do. Give out tax payers monies for u? Please forget ur monies nd leave the old boy to think about the country's welfare.aaaaa
I think if Gov is able to retrieve their money from NAM1,before their money is paid to the customers gov should charge them tax on the amount.
How is the government to collect your money for you ? Did you tell the government before sending your money to Menzgod ?