Home | News | Government Is Spot On Insisting That There Will Be No Bailout For MenzGold

Government Is Spot On Insisting That There Will Be No Bailout For MenzGold

The Government has made its stance on the MenzGold/customers brouhaha by sympathizing with the thousands of people who find themselves in this turmoil.

In the press statement ferrying the government’s to the general public, emphasis was also made on the resolution that taxpayers will not bear the brunt of these aggrieved customers as there is no intention to bail the beleaguered company out with monies collected from the people as taxes.

This reiterated point appears not to be in tandem with the expectations of the customers of MenzGold who insist that they have not asked the state to pay them their locked up cash in case Nana Appiah Mensah fails to do so.

They are up in arms over the continuous reminder to them that the state will not embrace the indebtedness of MenzGold in an event of a failure to pay customers their principal deposits.

These constant reminders may appear irritating to them, the reality of the matter is that these same customers will, in the not-too-distant future, agitate against the government in an attempt to force the state to pay them their monies locked up with MenzGold.

Some of their communicators suggest that all they needed government to do was to cause for the arrest of Nana Appiah Mensah as a first step and then force him to pay them their monies.

They also argue that if the Securities and Exchange Commission had not barged into the matter, they would be enjoying their extra value or dividends. This implies that the government, according to them, has caused them pain in this matter and must be held accountable for whatever outcome of this matter.

What is also a reality is the fact that MenzGold may not have the monies to pay the aggrieved customers and this would ultimately catapult the customers to demand their monies from the state.

It is upon this that the Minister for Information, Kojo Oppong-Nkrumah, in the press statement stressed that under no circumstances would the state fund this scheme.

It is better for the aggrieved customers to gird up their loins for what looms ahead of them because Nana Appiah Mensah is not likely going to be able to pay customers their deposits.

Disclaimer: "The views/contents expressed in this article are the sole responsibility of the author(s) and do not neccessarily reflect those of Modern Ghana. Modern Ghana will not be responsible or liable for any inaccurate or incorrect statements contained in this article."

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