The Finance Minister stated that some employees of the Bank of Ghana (BoG), the Finance Ministry and personnel of the Ghana Police Service also have their investments locked up with Menzgold.
The Finance Minister Ken Ofori-Atta has revealed that some elite persons in society also have their investments locked up with gold dealership firm, Menzgold Ghana Limited.
Speaking on Peace FM’s Kokrokoo morning show, he stated that some employees of the Bank of Ghana (BoG), the Finance Ministry and personnel of the Ghana Police Service invested with Menzgold.
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The Finance Minister attributed the current standoff involving the company as one borne out of greed.
According to him, customers should have been more open-minded to know that the percentage being offered by the gold dealership firm was unreal.
Mr. Ofori-Atta further hinted that the Bureau of National Investigations (BNI) could soon be going after the CEO of Menzgold, Nana Appiah Mensah.
“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,” the Finance Minister said.
“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 added.
In recent months, Menzgold, which offers very high returns to customers, has come under the spotlight following several inconclusive tussles with the Bank of Ghana (BoG), the Minerals Commission and the Securities and Exchange Commission (SEC).
READ ALSO: We no longer trust Menzgold – Menzgold customers
The Central Bank and Minerals Commission maintain that the company has been taking deposits and locally selling gold despite not having the requisite licence to do.
However, the seriousness of the issue was confirmed in September when SEC directed Menzgold to shut down its gold trading activities.
Currently, the operations of the company remain closed to the public, with several customers agitating for a refund of their investments.