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Mr. Ken Ofori-Atta – Minister of Finance
The Ministry of Finance must set up a committee to liquidate Menzgold, a gold distribution company, and the proceeds of the sale will be donated to those who have deposited money with the company. business.
Finance Minister Ken Ofori-Atta, who made the announcement in Accra yesterday, said his team was realizing that there had been an outstanding deposit of more than 200 million GH ¢ with the company.
"I think we realized that it was perhaps remarkable to have a change of more than 200 million GH ¢.
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Menzgold's general manager, Nana Appiah Mensah, aka NAM1, was apprehended in Dubai and a committee will be formed to see how to liquidate the company and all that could be found will be given to those who gave money to him, "he added.
Mr. Ofori-Atta was responding to a question from a soldier at a public forum with President Nana Addo Dankwa Akufo-Addo at Burma Hall in Burma camp in Accra.
The durbar was part of the president's itinerary during his visit to the headquarters of the Ghana Armed Forces (GAF).
Caution
However, the minister warned Ghanaians to be wary of these dubious transactions, because the "government will not substitute for problems of this nature where we are very clear, the company is not approved and you know the risk that was taken when you invested.
"We are spending more than 11 billion GH ¢ on licensed banks with about two million depositors, putting undue pressure on the treasury, but I think the banking sector is stronger with a deposit guarantee system. so that any type of deposit of more than 6,000 GH ¢ will be covered, he said.
President's response
For his part, President Akufo-Addo said that what had happened was "to tell us all that in every society or economy, there are money returns that are considered normal. and reasonable.
"People come and offer extraordinary returns and I beg you to stay on your guard. Yes, sitting here, I will like 10 or 15% returns on my money every month, but it 's not worth it. is not realistic.
I therefore argue that every time you hear of schemes that claim to want to give you money with extraordinary returns, you have to be careful.
"These are the ploys that have occurred in our country and around the world and invariably they have turned out to be very fraudulent and suspicious," said the president.
President Akufo-Addo explained that with the establishment of a new Financial Stability Board, entities such as the Securities and Exchange Commission (SEC), the Deposit Board and the National Pension Regulatory Authority would have for the first time, an institutional framework in which they would sit together to examine the financial architecture of the country as a whole.
"Everyone will be controlled, so if you are not regulated by X, you are regulated by Y and if you are not regulated by any of them, a regulation will come to make sure that you are also part of it, "said the president, adding," We must be disciplined, we must stick to certain simple values.
You make money because you worked for it. "
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