Finance Minister, Ken Ofori-Atta has hinted that the Bureau of National Investigations (BNI) will soon apprehend the President of Menzgold, Nana Appiah Mensah over the Menzgold saga.
Nana Appiah Mensah, popularly called NAM 1, who founded the gold firm to trade in gold collectibles by awarding 10 percent of interest to the company’s customers investing their golds in the firm.
The Bank of Ghana and the Security and Exchanges Commission (SEC) have warned Ghanaians not to trade with Menzgold, revealing that it is unlicensed and the business is shady which needs urgent attention of the regulators.
Recently, Nana Appiah Mensah in an interview with Zylofon FM, assured the customers that the company will protect and pay up their dividends.
He also asked the regulators to “correct” them as they are ready to cooperate with SEC to put things right.
Speaking in an exclusive interview with host Kwami Sefa Kayi on Peace FM’s “Kokrokoo” Friday morning on the 2019 Budget statement, Ken Ofori-Atta did not sapre customers of Menzgold saying they were spurred on by “greed”, therefore ignored all signs which pointed out that the gold firm transactions were ridiculous.
“Our own greed led us to it. If you take a critical look at the international gold prices which go up by 1 or 2 percent a year and somebody says he will give you 10% and it’s also unlicensed; it’s difficult to understand. But it’s not only illiterate people who invested but the elite too, people from the Bank of Ghana, Ministry of Finance and the Police among others. Sometimes, you wonder how all these many Christians in the country would make such decisions to invest their money in this shoddy business”, he stated.
To him, the customers should have known better and with a little hesitation would have saved their monies.
However, all hope is not yet lost as the Finance Minister disclosed that they will ensure Nana Appiah Mensah “grabbed” faces prosecution.
“The last time I checked, he had a certain plane and is off to Italy but we'll make sure we grab him. So, the National Security is working on it”.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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Mr. Minister, The person you are planning to arrest or grab has bodly declared that he is not in to dupe anyone and that he is going to pay everyone. Why not watch him to pay or why not watch him over some years, get regulators to keep a minimum capital with BOG as with all banks and help his business to grow. If his rates are high, sit with him and advice as you desire to bring the so called sanity. After all all banks and finance houses are robbing peter to pay paul. I don't really get this twist of things when it comes to NAM1. You now have a commodity exchange and very soon other commodities in metals( gold, etc) will be traded and if someone is already providing that trading platform, why do you want to destroy it instead of helping streamline it. The level of targeted destruction of vision in this county is crazy. Shame on you KEN and your DATA bank. How will DATA bank survive if all investors go for their money. I bet you wont be able to pay every one if everybody says give me my money. NOW the big questions, Finance houses give individuals loan and ask them to pay 7% a month, 5% a month and some as high as 8-10% a month. If you expect individuals to pay such huge interests to banks and finance houses, why is it not possible for companies to pay same to investors. ***barred word*** in the financial sector, You feed on our backs. MENZGOLD WILL STAY, IT WON'T COLLAPSE. DON'T WORK TO DESTROY IT, SOMETHING THAT HAS HUGE PROSPECTS. SHAME AND SHAME AGAIN.
Ghana is a very interesting place to live. All of a sudden the Finance Minister has become the chief director of the BNI. Look, this is just political witch-hunting. The NPP thought, according to deputy minister Adu Boahen, they had finished MenzGold through the SEC directive. Now MenzGold is on its feet and the government and its surrogates are frustrated, disappointed and embittered. The move by Ken Ofori Atta which had been echoed by Kennedy Agyepong is a frustrated attempt to put the fear of the Lord into the customers of MenzGold. If NAM1 has done anything wrong they know the right thing to do. The panic withdrawal that they triggered is enough for Ghanaians. The government should allow Nana Appiah Mensah to sort his customers out since she could not do anything to help them. Please, stop this POLITICAL witch-hunting.
Don't get me wrong. I am just thinking aloud!!! Is it not greediness that brings politicians to power? Is it not greediness that some politicians will spend so much money on campaigning to the extent that some will even bribe people to vote for them? Is it not greediness for some MPs to always want to retain their seat God knows how many times? Is it not greediness on the part of the Banking sectors to give peanut to clienteles as interest on their savings? Is it greediness for Governments when sourcing for loans from Developed Countries to look for the best offer? I can go on and on... So where lies the greed of MendzGold clients after working hard to earn their monies to trade with them. Your advice is welcome.
@ Ernest,check your facts,no politician nor the presidency had ever dine or associate with NAM1. When did it happened?Tell the whole world,you're a bloody liar!
It does not make sense to arrest NAM1 who has been operating all these years. After all, he does not owe the government of Ghana. If the man has committed any criminal offense you know the proper thing to do. Please, declare him wanted for committing specific crimes and stop this political witch-hunting. You are just ***barred word*** of the man because he is increasing but you are decreasing. You should first arrest and prosecute the Governor of Bank of Ghana and the SEC bosses for sleeping all these years and not doing their job. If you dare arrest NAM1 you will create a very big problem for the NPP and the future prospects of the party.
What you are saying makes no sense. Ken Ofori Attah is more qualified than your whole family. Take you n.on.esense somewhere else
I am surprise this guy has become Ghana's Finance Minister, somebody who was holding a Bank and is no more Data Bank, Gambia branch no more but when he became Finance Minister he is reviving that Bank, NPP people are no happy but they cant say it because they are afraid of the President, I know them I am Akyim man and I know that people, look at Gabby what position does he has in the party, in government and even at Jubillee House but he is controlling things there. Nana Akuffo Addo came to collect all his monies that he has spent in politic since 2008 and he has got it already within one and half years so he dont mind anything. God bless Ghana and NPP.
Ghanaian like cheap investment, we have best point bank ,number 1 saving and loan bank in world. government should call the consumers of MENZGOLD and jail them, so that next time, its will serve lesson for us to follow
GOODS NEWS KEN PLEASE DO THE NEEDFUL GOD BLESS NPP.
I beg which government allowed him for 5 years ? and the 5 years started yesterday or ? Masa check your facts. who pushed you to go for 120% on investment.