MenzGold Saga: Customers Want Commission Of Enquiry Or Face Demo

Coalition of Aggrieved Customers of Menzgold (CACM) has called on the president to establish a commission of enquiry to probe the Menzgold saga to bring relief to its troubled customers.

At a press conference held today at the International Press Centre, the General Secretary of the Coalition, Mr. Samuel Odartey, emphasized on the need for government to establish a commission of enquiry that would involve all key stakeholders and relevant professionals to investigate issues in the menzgold saga.

Mr. Odartey further pointed out that the coalition “expects the commission of enquiry to demand from menzgold the overall database of its legitimate customers in all the various branches. When this is done, they believe the government would get to know the exact total investment of all customers of menzgold."

Customers who came from far and near also expressed their worries demanded that EOCO makes information concerning the assets of CEO of the embattled company, Nana Appiah Mensah (NAM1) known to them.

To ensure transparency while finding answers to the lingering issue, they demand that representatives of the customers be added to the investigation team responsible for both security agencies and the Commission of Enquiry.

According to Mr. Odartey, failure on the part of government to establish the commission of enquiry would lead to a one million membership demonstration across the country to register their disappointment and Zero level of confidence in the government.

Members of the coalition are asking the government to help them retrieve their monies in full just as they did in the case of the collapsed banks.

BACKGROUND

It would be recounted that last year, in a letter dated 7 September, 2018 the Security Exchange Commission (SEC), ordered Menzgold to suspend its operation.

According to SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.

After the closure of Menzgold, customers have demonstrated to register their disappointments in the SEC, Bank of Ghana (BoG), and the Minerals Commission. There was a similar protest recently at Amakom in the Ashanti Region, which led to the arrest of some customers.

Currently, the Economic and Organized Crime Office (EOCO), have secured a court order to freeze the assets of the CEO of Menzgold Nana Appiah Mensah (NAM1).

It is believed that NAM1 is being held up in Dubai by security authorities.