Although made in jest, President Akufo-Addo’s Adisadel College talk has not been well received by aggrieved Menzgold customers who say his comments are insensitive to say the least.
Attending the 109th anniversary of Adisadel College in Cape Coast as a special guest of honour over the weekend, the president had mentioned some famed graduates of the school including highlife legend Agya Koo Nimo and hiplife notable Terry Bonchaka but when he got to the embattled CEO of gold dealing firm Menzgold, Akufo-Addo left the door wide open on the man hailed by some yet vilified by others.
“I love music and it is great to know that Adisadel produced A. K. Amponsah popularly known as Agya Koo Nimo the classical exponent of traditional music and the popular Hiplife musician, the late Terry Bonchaka. Chairperson, I’ve also been made aware that Nana Appiah Mensah aka NAM1 of Menzgold fame for notoriety depending on your viewpoint is a graduate of Adisco,” the president submitted.
This attracted a loud uproar alongside laughter and applause from both old and current students of the school for some time.
It is the above statement which has led aggrieved Menzgold customers who have their funds locked up in the firm accuse the president of ridiculing them with Timothy Binob; Chairman of the coalition of aggrieved Menzgold customers alleging that it’s been eight months since the customers have been barred from accessing their funds leading to deaths.
“Some of our members have had to flee the country as they are chased by the police for debt owed creditors. Some are unable to pay their children’s school fees with some unable to work. If President Akufo-Addo had solved the problem, these mishaps wouldn’t have befallen our members yet he goes on assignments and mocks us without using the law for our funds to be retrieved,” he alleged.
Menzgold had run a scheme where clients bought grams of gold at its sister company Brew Marketing and then opted to deposit the gold with Menzgold for either 3, 6 or 12 months while receiving monthly returns or values as it called it ranging from 6% to 12% till the Securities and Exchange Commission halted its operation declaring it had no valid license to run the scheme. In the event of the order not to take new deposits, Menzgold claimed it was constrained to pay interests to clients as well as the principal sums asking for more time to pay.
By Michael Eli Dokosi/goldstreetbusiness.com
