How the government plans to repay the deposits of Menzgold's customers

Customers of Menzgold Ghana Limited received a lifeline in its quest to recover its deposits from distressed gold distribution company.

the Ministry of Finance, m Ken Ofori-Atta, during an interaction with Ghana Armed Forces officers at the Burma camp in Accra on Friday, February 22, badured officers that the badets of Menzgold The CEO, Nana Appiah Mensah, will be liquidated to repay the deposits of customers of the company in difficulty.

He added that the government was in the process of liquidating the properties and badets of Nana Appiah Mensah in order to reimburse the company's clients in excess of 200 million GHc.

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"I think we found the realization that maybe more than 200 million … is exceptional … He [Nana Appiah Mensah] was apprehended in Dubai and I am sure that a committee will be formed to see how to wind up and that anything that can be found can be given to those who gave money " m Ofori-Atta said.

"But, government I will not spend on problems of this nature where we are very clear that he is not fired and you know the risks you have taken. "

The explanation given by the Finance Minister on Friday followed a call from some soldiers who had invested in Menzgold and had used an interaction with President Akufo-Addo in Burma camp to call on the government for help.

President Akufo-Addo, who was with the Minister of Finance, instead asked him to respond to the soldiers charm.

Context

In December 2018, 53 soldiers dragged Menzgold to the High Court for failing to repay their total investment of 2.5 million GH ¢.

The plaintiffs – from the Ghanaian navy, Ghana 's air force and army – have asked the High Court to order the repayment of their money.

According to the complainants, all the efforts made to recover the money had been in vain.

On summons, they want the court to order reimbursement of their money, between 18,000 and 244,000 GH.

The amounts cited on the court documents filed represented the principal claimant.

The plaintiffs argued that even if the defendant claims to be unable to pay their interest, they are entitled to their principals.