Menzgold Saga: Government not running away from its responsibility - Hon. Andy Appiah Kubi

The Deputy Railways Minister made this call when he was responding to assertions by the minority that government was playing the passive observers role while customers of Menzgold threaten chaos in search for the monies they have invested.

The Minority Spokesperson on Finance, Cassiel Atto Forson, earlier on in the week lampooned the NPP government for failing to come to the rescue of the aggrieved customers of the embattled gold dealership firm, Menzgold, but the revered legislator thinks the pronouncements of the minority are flawed and a cheap means of gaining popularity.

Hon. Andy said the regulators of our nation’s financial services sector, namely the Bank of Ghana (BoG) and the Securities and Exchanges Commission (SEC) had, on numerous occasions over the years, warned customers of MenzGold to desist from investing monies in the company, as it was not a licensed deposit or asset management company.

In all of these instances, the company and, indeed, some of its customers, responded with explanations that they were not in the business of deposit or asset taking, but were rather a gold trading firm. The Honorable Member of Parliament said he remember sometime last year, the government warned those who put their monies in Menzgold to desist from it as the company was not licensed to do so but all those calls fell on deaf ears.

This not withstanding, the Deputy Railways Minister believes all those involved in this fiasco will be brought to book. "No one complicit in this Menzgold saga will go scot free". "The Nana Addo led government will see to the end of this very issue and ensure that customers will have something to cheer about. We won't sit aloof and see the masses suffer whiles a few enjoy", the astute lawyer added. To this end, he assured all Ghanaians to keep their fingers crossed as the NPP government will work assiduously to get the right things done with respect to this issues.