Customers of the defunct gold dealership firm, Menzgold, have vowed to use available avenues to retrieve their locked-up investments from the company.
The Coalition of Aggrieved Customers of Menzgold, in a press conference on Tuesday, accused the government of Ghana for failing to protect funds of the investors, a development that continues to deepen their hopelessness by the day.
The customers bemoaned the “unconcerned posture” of the government, saying they “are yet to see any remedy by the government or its agencies in assisting customers to retrieve their locked up investments.”
“The rampant adjournment of the criminal case [which has been running for three years] has shown that till date, the state’s prosecution team has not been able to even proffer charges for trial.”
“This is a clear sign that government lacks the commitment to prosecute NAM 1 as many see the trial as ‘a government dancing kpalongo’ in court with NAM 1,” the customers lamented.
According to the aggrieved customers, the move by the Security and Exchange Commission (SEC) to shut down Menzgold in September, 2018 was hasty.
“Menzgold was a legitimate company, registered and licensed by appropriate state agencies under the laws of Ghana to operate. If the state feels that the company added on other operations that encroached the jurisdiction of another regulator, it is not the customers who should suffer for the company’s shortcomings.”
“Customers have suffered in silence for government’s failure at its own job and we will not continue to keep mute,” the Coalition scored.
What is the way forward?
The customers are urging the Parliament “to investigate the closure of Menzgold including the role played by SEC and EOCO as well as the bank accounts of the CEO and board members of Menzgold and Brew Marketing Companies; the whereabouts of some 400 kilograms of gold assets should also be investigated.”
The Coalition further revealed that Nana Appiah Mensa, though standing trial, has been given the permit to operate an ongoing mineral trading business.
“It has come to our attention that Nana Appiah Mensah, also known as NAM 1, who is the major contributor to our current plight, has been given a new license with which he has started trading in minerals once again as Ivex Minerals.”
“This comes to light after NAM 1 who is currently standing criminal prosecution in our law courts failed in operating PayBoy, Menzgold Prado, Menzgold Global, Zyllawood, etc in the aftermath of Menzgold’s collapse,” it recounted.
The group wants the matter to be treated as “an emergency national catastrophe.”
“We call on the government in the spirit and within the wind of cooperation blowing in Parliament, to work closely with the august house of Parliament to find an amicable solution to this conundrum that customers find themselves,” they pleaded.