Former Finance Minister, Ken Ofori-Atta speaking to some military officers who had their funds locked up in defunct gold dealership firm Menzgold said said the government was taking measures to ensure the affected customers were repaid their funds.
GH¢200m Menzgold locked-up funds to be paid with NAM 1 Assets.
The properties belonging to Menzgold CEO Nana Appiah Mensah (Nam 1) were liquidated to settle customers of their locked-up funds which he said was estimated to be around GH¢200m million.
Finance minister was responding to a question posed by army personnel on what the government was doing to help them retrieve the locked-up investments.
Mr Ofori-Atta said: “I think we have come up with the realisation that maybe over GHS200 million is outstanding”.
He, however, ruled out any monetary intervention using taxpayers’ money.
“He [Nana Appiah Mensah] has been apprehended in Dubai. I’m sure a committee will be put together to see how to liquidate [his assets] and whatever it is that can be found can be given to those who gave money,” Mr Ofori-Atta noted.
He was quick to add that: “The government is not going to be standing in for issues of this nature where we are very clear that it is not licenced and you know the risk that you have taken”.