Information Minister Kojo Oppong Nkrumah  has said government will not use tax payers money ti pay aggrieved depositors of Menzgold over their locked up funds at the embattled compny.

A statement issued by the Ministry said: “While government sympathizes customers on the difficulties encountered with their transaction with the company, the state cannot and will not resort to the use of taxpayer’s monies to refund customers monies.”

The statement also rubbished claims that Presidnet Akufo-Addo endorsed the activities of Menzgold and its CEO, Nana Appiah Mensah who is popularly referred to as NAM 1.

The statement recounted the number of warnings given to customers of the company over their illegal activities.

 “This warning was made as far back as April 2016, and, unfortunately, was disregarded by many customers of Menzgold. BoG and SEC are, therefore, not clothed with any legal mandate to refund monies clients.”

“Customers whose contractual obligations have not been met by the company are entitled to seek a legal remedy to retrieved their funds paid to the company ostensibly to buy gold,” the statement added.

The statement however assured the affected victims the state security agencies  “shall employ all the powers of the state to find the accused persons investigate the allegations and ensure that the law takes its course in this matter.”

Meanwhile, the CEO of Menzgold and some two other directors have been declared wanted by the Criminal Investigations Department.

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