Nana Addo must declare Menzgold saga a looming national disaster to save lives-Customers

Secretary for the Aggrieved Customers of Menzgold Francis Owusu says persons who invested at the company are not ordinary people.



In an interview with Kwabena Agyapong on Frontline on Rainbow Radio 87.5Fm, he said bankers, doctors, lawyers and senior officials at our various state institutions invested at Menzgold.


According to him, Menzgold has not been candid with them and has disappointed them.


‘’We have lost confidence in Menzgold Ghana’s commitment to pay our investments because the company failed to fulfill an agreement reached after two crunch stakeholder meetings.’’


He indicated that there is a customer with deposits of over $10 million at Menzgold with the lowest amount being GHc4, 000.



The Aggrieved Customers on Tuesday demonstrated over their locked up cash and appealed President Akufo-Addo to intervene.


The customers have also called on the president to declare the Menzgold saga a ‘’looming national disaster and take immediate steps to save lives’’.


They carried placards, some of which read: “Nana Appiah Mensah (NAM), pay our money or wo be te borborliborbor”, “We are investors, not greedy people”, “BoG, help us retrieve our money”, “More than three months of hunger is no joke”.


Portions of the statement read: “We want Menzgold to come up with the proper payment schedule that clearly shows when payments will be effected to customers throughout the 90-day period.

“We also demand the CEO of Menzgold be ordered, under your authority, to pay us our hard-earned investments,” it added.


Meanwhile, the Secretary to the Aggrieved Customers has rubbished suggestions that they invested at Menzgold because of their greed for quick money adding, they only took a risk based on the trust they had in state institutions like the Securities and Exchange Commission (SEC).

The Securities and Exchange Commission (SEC), on September 12, 2018, directed Menzgold Ghana Limited to shut down its investment operations with immediate effect for contravening the Securities Industry Act, 2016 (Act 929).

The SEC order also warned Menzgold to halt advertising its investment business and desist from creating new contracts with depositors.

Previous Assisting 'waakye' & 'sobolo' sellers in Zongo communities is a novelty-Minister
Next Chartered Institute of Bankers (Ghana) Honours VP Dr Mahamudu Bawumia

No Comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.