The Coalition of Aggrieved Customers of Menzgold Ghana is not backing down in its efforts to retrieve locked-up funds.
They have appealed to President Akufo-Addo to urgently address the issue in the upcoming State of the Nation’s Address (SONA).The President is expected to present the SONA to Parliament on March 8, 2023.
In a statement, the Coalition stated that the President’s decision on how the government will pay the locked-up investment in Menzgold will help customers retrieve their funds. The Coalition’s leadership first presented a petition to the President on September 12, 2022, requesting his intervention in their quest to retrieve their monies.
They have since been appealing to the President to intervene in their plight and help resolve the issue to save lives since nearly 200 customers have already died.
Meanwhile, the Director of Operations at the Office of the President has asked aggrieved customers of the embattled gold dealership company, Menzgold, to exercise patience with the government.
Mr. Lord Commey, who received the petition on behalf of President Akufo-Addo, assured the aggrieved customers that the government would not neglect them.
In 2018, Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).
The SEC said this was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients without a valid license. Since then, some aggrieved customers have protested on different occasions for their locked-up money to be released. Despite these protests, customers have yet to receive their money.
But Mr. Commey stresses that the Akufo-Addo government is committed to reimbursing aggrieved customers.