MenzGold Saga: Ablakwa calls for bipartisan parliamentary probe

MP for North Tongu Hon. Samuel Okudzeto Ablakwa has called for a bi-partisan parliamentary inquiry into what has become one of the biggest financial fraud in the country’s history, the MenzGold saga.

Nana Appiah Mensah (NAM 1)
Nana Appiah Mensah (NAM 1)

Since the shut down, aggrieved customers of Menzgold have staged several demonstrations in a bid to put pressure on government to retrieve their investments but to no avail as government has repeatedly insisted that taxpayers’ money will not be used to rescue them.

However authorities issued an arrest warrant for the CEO, Nana Appiah Mensah also known as NAM 1, and some of the company’s directors in connection with money laundering and defrauding by false pretense.

Since his arrest warrant was issued, the Ghanaian media has been buzzing with news of his arrest in different countries until yesterday January 14 that the Ghana Police Service issued a statement confirming his arrest in the United Arab Emirates, Dubai.

Officials from Ghana have however departed to Dubai to begin processes of a possible extradition of NAM 1.

But Hon. Ablakwa in a facebook comment stressed that, there are so many questions begging for answers with regard to the whole Menzgold brouhaha, but these answers could be arrived at only through a bi-partisan parliamentary probe.

Below is the Full statement:

Elsewhere, their parliaments would have long commenced a full-blown bi-partisan enquiry into this Menzgold debacle.

In the very least, the terms of reference would have included:

An understanding of the Menzgold business model to really ascertain if it does fit the classical definition of a Ponzi scheme;

If, indeed, it was a Ponzi scheme, how was Menzgold allowed to operate all these years?

What led to the inability of the state to carry out its basic non-negotiable public duty of protecting citizens by the seeming abdication or impotence or complicity of regulators, tax authorities and the national security apparatus?

An assessment of the impact of Menzgold’s collapse on the economy and mitigation options;

The true circumstances of how Nana Appiah Mensah left Ghana and if, indeed, he is on the run;

Exploring possibilities for the compensation of the millions of Menzgold victims especially after a thorough credible independent tracking of Nana Appiah Mensah’s assets and bank accounts across the world;

An examination of the existing legal and enforcement climate in Ghana, which makes it possible for such to happen and recommendations to forestall future occurrence seeing that apparently many of such schemes are going on waiting to explode in our faces in a matter of time.

I sincerely pray for the day our parliament will shed off its rather sad reputation of being weak and tied to the apron strings of the Executive.

I sincerely pray that some colleagues across the aisle will have the courage to join those of us on this side who believe we can look into this matter in the supreme interest of Ghana irrespective of partisan considerations and really depart from the farcical precedents of recent bi-partisan probes where partisanship trounced truth and conscience.

Even though I am in no way connected to Menzgold, neither am I one of their victims, contrary to infantile fabrications in circulation; it is my considered view that those of us in elected office and who ought to act as the true representatives of the people cannot afford to fold our arms and merely join the greed and naivety chorus.

Leaders, and, especially the people’s representatives, cannot abandon nor betray their constituents in such a crude manner as being suggested by some. That would not be the kind of representative democracy Rt. Hon. Justice D.F. Annan, Rt. Hon. Peter Ala Adjetey, Hon. J.H. Mensah and others laid down their lives for.

May this 7th Parliament stand up to be counted and may history not say of us that we were the representatives who failed to represent the people and failed to secure the people’s future when the opportunity beckoned.

credit: newsghana.com.gh

Publish on Apt

Do you have any Social, informational, educational or entertaining stuff that should be featured on www.aptnewsghana.com?

Please submit your stories, pictures, and videos to us via WhatsApp: +233548388489 or click on the icon on your screen. Alternatively, email us: aptnewsghana@gmail.com

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • Coronavirus - Zambia COVID-19 statistics daily status update (11 May 2021) May 12, 2021
    COVID-19 daily update - 11th May: we report 40 new cases out of 5,697 tests (0.7% positivity), 38 recoveries, and 4,399 new vaccinations; with 1 new death (MHSRIP).Distributed by APO Group on behalf of Zambia National Public Health Institute (ZNPHI).Media filesDownload logo
  • Coronavirus - Eritrea: Announcement from the Ministry of Health (11 May 2021) May 12, 2021
    Sixty-four patients have been diagnosed positive for COVID-19 in tests carried out today at Quarantine Centers in Gash Barka, Anseba, Northern Red Sea, and Central Regions. Out of these, fifty-one patients are from Quarantine Centers in Ghirmaika (25), Agordat (22), Ali Ghidir (3), and Adibara (1); Gash Barka Region.  Six patients are from a Quarantine […]
  • Team Qhubeka ASSOS take on Challenge Mallorca May 12, 2021
    Team Qhubeka ASSOS (www.TeamQhubeka.com) will head to Mallorca, Spain, this week for the four UCI 1.1 races that make-up the Challenge Mallorca, starting tomorrow. Trofeo Calvia, Trofeo Serra de Tamuntana, Trofeo Andratx and the Trofeo Alcudia are the four events taking place on the Spanish Balearic Island of Mallorca this week. Each of the races […]
  • Energy Capital & Power Confirms High-level Sponsors for South Sudan Oil & Power 2021 Event May 12, 2021
    Energy Capital & Power (www.EnergyCapitalPower.com) is excited to announce the confirmation of several high-profile sponsors for its South Sudan Oil & Power 2021 (SSOP) conference on 29-30 June 2021, in Juba; Event sponsors include Nilepet, DPOC, GPOC, SPOC, Petronas, CNPC, Atlas-Oranto, Centurion Law Group, Trinity Energy, Nile Petroleum Service Co., IPTEC and Stanbic Bank; ECP […]
  • ?About a Boy ? the big winner at 2021 Nollywoodweek Film Festival May 12, 2021
    "About a Boy", a story about the psychological games played between a writer and his muse by first-time director Diji Aderogba received the highest honor at the 2021 Nollywoodweek (www.Nollywoodweek.com) film festival, the Audience appreciation award known as the Prix du Public. The announcement of the winning film marked the culmination of the 2021 edition […]
  • The Newest TECNO CAMON 17 Pro raised the bar for selfie smartphones, allowing users to express their true selves creatively in their own way May 12, 2021
    On May 6th, TECNO (www.TECNO-mobile.com), a rising superstar as a global smartphone brand of the new generation, has successfully launched the TECNO CAMON 17 Pro and get back their focus on the seflie for the users in post-epidemic era with48MP AI selfie camera and 90 Hz super-high refreshing rate at 6.8 inch FHD Screen. Not […]
  • UNICAF Sets Out Plan to Expand to 17 African Countries Following UN Call for Investment In Digital Education May 12, 2021
    The COVID-19 pandemic unearthed the fault lines for what could be a generational catastrophe in education. Even before the pandemic resulted in school closures affecting over 1.6 billion students in at least 161 countries (https://bit.ly/3ydxErB), more than 250 million school-age children (https://bit.ly/3eGd6QM) were out of school globally. In much of the developing world, the gap […]
  • Coronavirus - Kenya: COVID-19 update (11 May 2021) May 12, 2021
    356 people have tested positive to the disease, from a sample size of 4,424 tested in the last 24 hours. Our positivity rate is at 8.0%. From the cases 329 are Kenyans while 27 are foreigners. Total confirmed positive cases are now 163,976 and cumulative tests so far conducted are 1,725,546. County distribution of new […]
  • Coronavirus - South Africa: COVID-19 Statistics in South Africa (11 May 2021) May 12, 2021
    Tests conducted: 10,931,906 Positive cases identified: 1,599,272 Total recoveries: 1,519,258 Total deaths: 54,896 New cases: 1,548Distributed by APO Group on behalf of Republic of South Africa, Department of Health.Media filesDownload logo
  • Coronavirus - Eswatini: COVID-19 daily update (11 May 2021) May 12, 2021
    Total daily tests: 1,068 New confirmed cases: 5 Cumulative confirmed cases: 18,487 Active cases: 32 Recoveries: 17,784 (0 new) Currently admitted: 0 New deaths: 0 Total deaths: 671 Total vaccinated to date: 35,227Distributed by APO Group on behalf of Ministry of Health, Government of the Kingdom of Eswatini.Media filesDownload logo
About Editor 616 Articles
Joe Bright Nyarko Journalist/Communication Researcher. Environment & Sustainability Advocate. Managing Editor of aptnewsghana.com, a non-profit news portal with bias towards environment and sustainability issues, rural development policies and gender & inequality.