Gov’t to Liquidate NAM1’s Assets to Pay Customers- Finance Minister

The Minister of Finance, Mr Ken Ofori-Atta has revealed during an interaction with officers of the Ghana Armed Forces (GAF) at the Burma Camp in Accra on Friday, February 22, that the assets of Menzgold CEO, Nana Appiah Mensah will be liquidated to repay the deposits of the clients of the company.

According to him, the government is in the process of liquidating properties of NAM 1 to pay customers who are due over GH¢200 million.e

“I think we have come up with the realisation that maybe over 200 million… is outstanding… He [Nana Appiah Mensah] has been apprehended in Dubai and I am sure a committee will be put together to see how to liquidate and whatever it is that can be found can be given to those who gave money,” Mr Ofori-Atta said.

Mr Ofori- Atta however sent a warning that government was not going to spend a dime on issues of unlicensed businesses such as Menzgold.

“But, government is not going to be spending for issues of this nature where we are very clear that it is not licensed and you know the risks that you have taken,” he added.

The Finance Minister’s explanation on Friday was in response to an appeal by some soldiers who had invested in Menzgold and had used the opportunity of an interaction with President Akufo-Addo at the Burma Camp to call on government for help.

Source: Graphic Online