The Member of Parliament for Tamale Central, Inusah Fuseini has chastised Ghanaians who dump their monies in MenzGold with the view to making outrageous profits at the end of the day.
The former Minister for Roads had no kind words for people who have engaged with MenzGold in its gold vault business which has become a very contentious topic for some time now.
Contributing to a discussion on the subject on Joy FM/Joy News’ flagship programme, Newsfile, the Tamale Central Member of Parliament said that merely depositing monies with Nana Appiah Mensah’s MenzGold is tantamount to encouraging laziness since these deposited monies virtually do nothing and just lie idle.
“It has to be emphasized that depositing monies with MenzGold is nothing but a glorification of laziness on the part of those who trade with them. Let’s be honest over this matter” the former Minister for Lands and Forestry stated.
On his part, Kofi Bentil, the Vice President of IMANI said that investing in MenzGold is driven by greed. He also described MenzGold as a Pomzi scheme which has the designs of the modus operandi of DKM, God is Love, Justa Motors and their likes.
The gold vaulting wing of MenzGold has come under scrutiny in recent times, attracting the Securities and Exchange Commission to lift its stick against the entity.
Kofi Bentil also pointed out that the statement to the effect that MenzGold cannot pay depositors their principal is self-serving and advised them to go ahead to pay customers their initial deposits.
MenzGold has since sued the SEC and the Bank of Ghana for causing damages to the entity. The outfit has also commenced paying customers dividends on their deposits.