Business

‘We’ll settle all entitlements’ – Menzgold urges customers to remain calm

The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, has reassured customers that each and every one of them will be duly paid their returns.
He urged customers to remain calm, adding that the gold dealership firm will soon settle all entitlements owed to them.

“I humbly urge all Menzgold clients to kindly remain calm, as we prepare to COMPLETELY SETTLE all entitlements of any magnitude soon. We’ve got brands & names to protect. Self-restraint now is critical to maintain public peace & order. All is well,” Nana Appiah Mensah posted on Twitter.

CEO of Menzgold, Nana Appiah Mensahplay
CEO of Menzgold, Nana Appiah Mensah

His comments after some customers raised concerns over the delay in recouping their dividends from the gold dealership firm.

In recent weeks, Menzgold, which offers very high returns to customers, has come under the spotlight following several inconclusive tussles with the Bank of Ghana (BoG), the Minerals Commission and the Securities and Exchange Commission (SEC).

The Central Bank and Minerals Commission maintain that the company is taking deposits and locally selling gold despite not having the requisite license to do so – an allegation that the gold firm vehemently denies.

Nana Appiah Mensah
@mn_appiah
I humbly urge all Menzgold clients to kindly remain calm, as we prepare to COMPLETELY SETTLE all entitlements of any magnitude soon.We’ve got brands & names to protect.Self-restraint now is critical to maintain public peace & order. All is well.#MenzgoldlivesOn #GhanaShallProsper

11:49 PM – Oct 6, 2018
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However, the seriousness of the issue was confirmed last month when Menzgold was directed by SEC to shut down its gold trading activities.

Currently, the operations of Menzgold remain closed to the public, with the company now offering to pay customers their monies.

However, several customers have still not been able to retrieve their monies despite receiving messages to come for it.

This has promoted agitations from customers, with some storming the Zylofon Media office at East Legon (a subsidiary of Menzgold) last Friday to register their frustrations.

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