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Menzgold customers has described as disappointing a statement from government indicating that no money is going to be paid.

"We had never asked government to pay us..." one customer who is also an executive of the Coalition Of Aggrieved Customers Of Menzgold told Nana Yaw Kesse, sit-in host of Peace FM morning show 'Kokrokoo', Friday.

Information Minister, Kojo Oppong Nkrumah in a statement issued yesterday [Thursday] said although government sympathizes with the aggrieved customers, it would not use state resources to pay the customers.

“While government sympathizes customers on the difficulties encountered with their transaction with the company, the state cannot and will not resort to the use of taxpayer’s monies to refund customers monies,’’ the statement said.

Samuel Odartey, Secretary of the Coalition said "we are not asking government to use taxpayers money to pay us…we only need government to arrest him for the money to be released. We voted for government to protect us and not to sit in the comfort of their offices; enjoying air conditioners....let the law deal with him so that they put structures in place and pay our monies back".

Another customer speaking on the same  platform said: "Government’s statement is disturbing. We are disappointed. In the first place the blame should be laid at the doorsteps of SEC. They started the whole saga and collapsed the company…we only want him to be arrested including all the board of directors"

Background

The customers of Menzgold since July last year, have been demanding the payment of their principal investments after the gold dealership company was instructed by the Securities and Exchange Commission to halt its gold trading operations.

Aggrieved customers have since been protesting to demand for their ‘locked up’ cash from the gold firm.

The latest incident was that which happened in Kumasi Tuesday January 8 where several customers besieged the company’s branch in the region. They among other things blocked access to Adum from Amakom road and burnt several tyres to relay their frustrations and demand for their monies.

Several others have issued threats on some major news outlets to register their seriousness about the issue. Some threats indicated a ‘no vote’ for President Nana Akufo-Addo in the 2020 elections if government does not take control of events and ensure their monies are returned.

A known member of the New Patriotic Party, following that particular threat took to his Facebook page to reveal that the businessman had violated his bail terms and was on the run and called for his rearrest.

“I understand the owner of Menzgold, Nana Appiah Mensah, has breached his bail condition and absconded. We can’t allow those who allegedly dupe people with such impunity to get away with it that easily. Let’s smoke them out, wherever they are, and throw the book at them! While I will not want a pesewa of my tax money to be involved with this ponzi matter, I believe majority of Ghanaians will agree with me that the law must come down heavily on those who use such schemes to destroy the lives of many people,” he wrote.

Meanwhile, an arrest warrant has been issued for Chief Executive of the Company, Nana Appiah Mensah (known also as NAM1), and other top executives working within his string of business establishments.