MenzGold Saga: Parliament’s Finance Committee divided over Menzgold’s cry for help

The Finance Committee of Parliament is divided over a petition from Menzgold Ghana Limited for some state intervention over the company’s present predicament.

While a section of the Committee believes that the company must be left to tackle its own mess after failing to operate within stipulated regulations, others on the Committee believe a level of state intervention is required.

The Chairman of the Finance Committee, Dr. Mark Assibey Yeboah, said the Committee was yet to even decide on inviting Menzgold for a meeting.

“We’ve distributed their petition to all members of the Committee and the generality is a divided Committee on this matter; whether to invite them or not.”

He however insisted that the affected customers had ample warning of Menzgold’s shaky foundation.

“Government warned those who put their monies there. The government warned them. As late as February 2017, Menzgold came to the Finance committee and we told them what they were doing was illegal. At that point, if anyone wanted to take out their funds, they would have been able to do so,” the MP said.

A Ranking Member on the Committee, Cassiel Ato Forson, however described the issue as “dicey”, and was clearly in favour of a government intervention.

“I strongly believe that government has a responsibility to intervene. I also strongly believe that government’s attitude of ‘I don’t care’ is not good enough because the government should intervene to ensure that at the minimum, the assets of the owners of Menzgold are confiscated.”


Be the first to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.