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Finance Minister; Ken Ofori-Atta is sounding the alarm that folks who have their funds locked up in one finance house or the other promising outrageous returns are on their own as government can do very little to return their locked up funds.
He warned any finance house promising more than what government is giving on its Treasury Bill (T-Bill) for the short term is suspect adding although the government can put in measures to protect the citizenry, it can do little when individuals are driven by the lucrative offerings to deposits their funds.
“We have very educated to the less literate depositing funds but any promise of giving 6-10% is unattainable,” Mr. Ofori-Atta submitted.
He also mentioned that there are consequences to actions. It’s emerged at least GHc200 million have been locked up in defunct investment firm Menzgold with the aggrieved depositors ranging from soldiers, teachers, traders, business people and housewives.
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