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

The Minister of Finance, Mr Ken Ofori-Atta talks about Menzgold CEO, Nana Appiah Mensah. Moreover, he revealed that government will liquidate the assets of the company to repay the deposits of the clients of the company. He revealed this during an interaction with officers of the Ghana Armed Forces at the Burma Camp.

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

“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” 

However, he stated that government won’t spend money on issues of unlicensed businesses such as Menzgold.

“But, government is not going to be spending for issues of this nature. We were very clear that they were unlicensed. Therefore, you know the risks that you took”

Furthermore, the Finance Minister’s explanation was in response to an appeal by some soldiers. These soldiers invested in Menzgold and used the opportunity to call on government for help.