The management of
Menzgold says they are unable to generate any revenue to pay their customers due to the orders from the Securities and Exchange Commission (SEC) to halt its trading activities .
The statement further said, "
The management, however, promised all their customers to remain calm as their investments are safe with the
Some aggrieved customers of
The investments of the aggrieved customers have been locked up following the suspension of the company’s gold vault market services.
The threat by some of the customers followed a decision by the company to extend the suspension of its gold vault market services for the second time, in the wake of the controversy between it and the Securities and Exchange Commission (SEC).
Although the management of
The temporary suspension expired on Tuesday, September 18 and the company was supposed to resume operations on Wednesday, September 19, 2018.
However, in another statement signed by the Head of Communications,
Below is the statement: