Home POLITICS NDC Blames NPP For ‘Promoting’ Menzgold

NDC Blames NPP For ‘Promoting’ Menzgold


Sammy Gyamfi endorsing Menzgold’s activities recently

The opposition National Democratic Congress (NDC) is making strenuous efforts to implicate the ruling New Patriotic Party (NPP) in the Menzgold Ghana Limited scandal that has rocked the country.

The NDC has politicized the issue by
creating the impression that some top government officials, including President
Akufo-Addo, ‘endorsed’ Menzgold’s activities, which promoted and convinced
people to do business with the beleaguered private company.

Currently, millions of dollars of many
customers are locked up with Menzgold, which initially claimed it was into gold
collectibles but reportedly took cash deposits as a result of the mouth-watering
returns it promised.

The company’s CEO, Nana Appiah Mensah
aka NAM1, who is currently in the cooler in Dubai, United Arab Emirates (UAE) for
alleged fraudulent gold deals, has been accused of running a Ponzi scheme in Ghana.

Currently, the Economic and Organized
Crime Organization (EOCO) has frozen all bank accounts of Menzgold, and is looking
for cash, houses, landed property, among others, of the company.

NDC Communications Officer, Sammy
Gyamfi, at a news conference in Accra yesterday, said that the president held a
meeting with the Menzgold CEO and that gave customers confidence to invest in
such a business.

“NAM 1 posted his picture and
commented on his business successes with President Akufo-Addo on his Facebook
wall, advertising himself with the president.”

“The Menzgold problem is largely the
creation of Nana Akufo-Addo government. This is because of the many overt acts
of endorsement and advertisement of Menzgold and its CEO, Nana Appiah Mensah,
also known as NAM1, by the president and his appointees. They are inextricably
linked to the present predicament of Menzgold customers.

 “Undoubtedly, the open endorsement of NAM1 and Menzgold by this government greatly enhanced the credibility and legitimacy of Menzgold in the eyes of the general public and encouraged many people to invest with the company even after the Bank of Ghana (BoG) had cautioned against it,” Mr. Gyamfi added.

By Melvin Tarlue

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