We Can’t Use Taxpayers Money To Pay Customers Of ‘419’ Unlicensed Menzgold – Bawumia

Vice President Dr Mahamudu Bawumia has affirmed that government has no plans to come to the aid of depositors with locked up funds in now defunct Menzgold firm.

Speaking on Techiman-based Link FM in the Bono East Region, Dr Bawumia noted that customers of Menzgold are not privileged to government rescue because they ignored warnings from the Bank of Ghana and went ahead to do business with an unlicensed institution.

“Menzgold is not a licensed financial institution. We are talking about licensed financial institutions but if you set up your 419 institution and the Bank of Ghana warned repeatedly that people should not do business with Menzgold because they were not a licensed financial institution, so, you can’t use taxpayers’ money to pay locked-up funds of an institution that is not a licensed financial institution,” the Vice President said.

Meanwhile Menzgold customers have vowed to rally behind National Democratic Congress (NDC) flagbearer, John Dramani Mahama to win the December 2020 polls.

Source: GhanaFeed.com