Kumasi: Menzgold customers hit streets; burn car tyres

Kumasi: Menzgold customers hit streets; burn car tyres

Some aggrieved customers of Menzgold Ghana Limited on Tuesday defied Police orders to stage a demonstration in the Ashanti Region capital, Kumasi today [Tuesday].

The customers, who have blocked access to Adum from Amakom, say their demonstration is to impress upon the company to pay them their locked monies.


They are also calling on government to intervene in the matter and assist in recovering their investments.

Police order

The Police on Monday warned the aggrieved customers to call off the demonstration since they did not follow due process as spelt out in the Public Order Act.

According to a statement signed by the Public Affairs Officer of the Ashanti Regional Police Command, Assistant Superintendent of Police (ASP) Godwin Ahianyo, an invitation to the group to make an arrangement for a new date to be fixed for the demonstration was turned down.

“The leaders of the Intended demonstrators" turned down the invitation extended to them by the Police Command and insisted on embarking on the demonstration. As such, they are being warned to rescind their decision since embarking on such demonstration will be deemed illegal. Therefore, whoever takes part in the demonstration will be dealt with according to law.”

Nana Addo and Otumfuo to be petitioned

Meanwhile, the spokesperson of the aggrieved customers, Francis Owusu, in an interview on Accra-based Citi FM, said the group would petition President Akufo-Addo and Otumfuo Osei Tutu II on the matter.

“It is going to be one of the mega protests that has even happened in this country because all the Menzgold customers across the country will be coming to Kumasi to protest against the insensitivity of our president towards our plight. We have petitioned Otumfuo Osei Tutu II on this issue and we have been to his office for about three times so we are going to send a letter of reminder to Otumfuo’s office,” he said.

Menzgold troubles

Menzgold was ordered by Securities and Exchange Commission (SEC) to stop its gold vault market operations in August 2018 over regulatory infractions.

Since then, the company has been unable to pay its customers said to be in the thousands.

The company has since petitioned Parliament to help it resolve its regulatory issues with the SEC so it can pay all entitlements owed its clients.

In a petition to Parliament's Finance Committee dated December 3, 2018 and signed by Corporate Manager, Offie Nana Yaw on behalf of the CEO, Menzgold said it wants members of the committee to intervene in the standoff for the benefit of its customers.


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