Home / GENERAL NEWS / Menzgold to announce payment plan today

Menzgold to announce payment plan today

Menzgold will today announce a payment plan and schedule fo payment for its numerous customers whose investments are held up with the company.

It comes after the company invited the customers to visit their respective outlets to validate their documents in November.

The CEO of the company Nana Appiah Mensah, ahead of today’s planned announcement, asked customer groups to forward their views and opinions about the intended payment schedule to their offices

Background

About GH¢200 million of depositors cash is believed to be held up at the collapsed gold dealership firm Menzgold.

Menzgold folded up last year after the Securities and Exchange Commission (SEC) ordered it to suspend its operation with the public. Several efforts by the customers targeted at the company to get their monies have failed to yield any positive results.

According to the Commission, Menzgold did not have the license to trade in gold collectibles and that doing so was in contravention of the Securities Industry Act, 2016 (Act 929).

The collapse of the gold trading firm had been blamed on the directive.

Addressing a press conference on Wednesday, the PRO of the Coalition of aggrieved Menzgold Customers, Fred Forson stated that they will do everything possible to retrieve their locked up cash from Menzgold.

“We want to hear from NAM1, we have supported him all this while and it is time we hear from him…we want to demand from the CID that we want to meet Nana Appiah Mensah in person. Wherever he is, he needs to address us as leaders of Menzgold customers.

“If it is not a deliberate attempt on the part of the government to shield and protect Nana Appiah Mensah to loot and create and share our investments, then this is the time that the government should be transparent…and let us know what is happening with our investments.”

 

Source: starrfm.com.gh

About admin

Check Also

Speaker of Parliament Alban Sumana Kingsford Bagbin has issued a stern warning to Ghanaian leaders, drawing attention to recent events in Kenya as a crucial lesson ahead of the upcoming December 7 elections.

Speaker adjourns Parliament indefinitely again as NPP MPs fail to show up

Speaker of Parliament, Alban Bagbin, has once again adjourned the house indefinitely on Thursday, November …

Two killed after fuel tanker rams into vehicles at Konongo

Two people died on the spot after a fuel tanker, which failed its brakes in …