Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has denied investing in troubled gold-trading firm Menzgold Ghana Limited.
In a statement, Dr Nduom, whose bank, GN Bank, failed to meet the Bank of Ghana’s new Minimum Capital Requirement of GHS400 million, and was, thus, downgraded to a Savings and Loans Company, said: “The attention of Groupe Nduom has been drawn to some social media commentary, attempting to suggest Groupe Nduom has invested part of its funds in Menzgold Ghana Limited.
Groupe Nduom’s Corporate Affairs Manager, Mr Frank Owusu-Ofori signed the agreement which said, wish to state clearly that neither Groupe Nduom nor its subsidiaries has made any investment with Menzgold Ghana Ltd.
Since that period, NAM1 has not been seen in Ghana. He only tweets or speaks to his radio station.
Finance Minister Ken Ofori-Atta has described the customers of Menzgold, as “greedy” people. He added that the government of Ghana will not spend a pesewa of taxpayers’ money to compensate the aggrieved clients.
Elsie Awadzie, a deputy governor of the Bank of Ghana, also has said the Bank of Ghana will not in any way intervene in the payment brouhaha.
Mr Asare Otchere-Darko, founder of think tank Danquah Institute, tweeted: “I understand the owner of Menzgold, Nana Appiah Mensah, after a demonstration by aggrieved clients of the company in Kumasi on Tuesday, 8 January 2018, has breached his bail condition and absconded.
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