Member of Parliament for Ketu North, James Klutse Avedzi has lashed out at President Nana Akufo-Addo for failing to properly address the Menzgold issue, stating that there was no hope in his speech for Ghanaians who have lost their money to the gold dealership firm.

Speaking on the Menzgold saga for the first time in his third State of the Nation Address, the President said individuals found culpable of fraud in the Menzgold saga will be brought to book, indicating that a mega regulator in the financial services sector has been established to investigate companies making unsustainable returns to unsuspecting customers.

He also cautioned Ghanaians to desist from investing their monies with similar firms.

James Klutse Avedzi, Deputy Minority Leader however was unsatisfied with how the issue was treated by the President. He was of the conviction that President Akufo-Addo must pay the Menzgold customers just as he vowed to payback DKM customers.

“He rode on that promise talking about the DKM, he got the votes because he said what DKM did was wrong and for that matter when he is voted for and he comes to power he will pay the DKM clients or customers. Now that you are power and this big Menzgold thing happened what did you do about it,? James Klutse Avedzi quizzed.

The Ketu North MP added Akufo-Addo “didn’t give them any hope. So it means that all those who have money at Menzgold have lost their money, which is the implication.”

The Minority Spokesperson on Finance also questioned Akufo-Addo’s failure to “talk about how the cedi is performing because he knows that the value of the cedi is falling at a faster rate.”

Menzgold has failed to pay back full dividends to its customers since its gold trading operations with the public was suspended by the Securities and Exchange Commission (SEC).

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