The Bono regional chairman of the New Patriotic Party (NPP), Kwame Baffoe well known as Abronye DC, has vowed not to campaign for President Nana Akufo-Addo if he pays the locked-up funds of customers of Menzgold.
“For me, if the NPP decides to pay customers of Menzgold, I will cease campaigning for the party,” he said during a discussion on Kumasi-based Hello FM’s “Kokrokoo” morning show monitored by KwasiAboagyeLive.com.
According to him, whatever transaction went on between Menzgold and its customers was private so calls for government’s intervention are misplaced.
Abronye stressed that government did not play any role in the whole transaction so the aggrieved customers should redirect their anger to the company.
“It is unlawful for any government to pay customers of the gold firm because it is an individual’s company therefore the state cannot release funds to rescue it not even on the day of elections,” he stated.
Menzgold suspended its gold trading operation in 2018 after the Securities and Exchanges Commission (SEC) flagged its operations as illegal.
According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
This, the SEC said was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
