BNI to 'grab' Menzgold boss - Finance Minister hints

ruth

November 17, 2018 4:56 PM

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.

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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 make sure we grab him. So, the National Security is working on it”.

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