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Menzgold discloses names of customers; set to begin payment today



File photo: Aggrieved Menzgolders demonstrating over their locked funds on Tuesday January 8, 2018 in Kumasi, capital of the Ashanti region

Menzgold says it will begin payment of its aggrieved customers today Monday December 20,2021.

The company has in the past failed to deliver on its own payment schedules.

In a statement Sunday, the defunct gold collectible firm published a list of 181 customers who are to be part of its payment plan between today and June next year.

The company said they have been advised by the Police to pay electronically to avoid chaos and possibility of spreading COVID-19.

“With due regards to the above basis, respect for authority and as law abiding patriotic citizens, our company consequently shall proceed to achieve the same payments objective by resorting to direct bank deposits, as we happily commence our final payments phase spanning from the 20th December, 2021 to 30th, June 2022, starting  with the following vetted creditors outlined,” a statement by the company said.


About GH¢200 million of depositors cash is believed to be held up at the collapsed gold dealership firm Menzgold.

Menzgold folded up last year after the Securities and Exchange Commission (SEC) ordered it to suspend its operation with the public. Several efforts by the customers targeted at the company to get their monies have failed to yield any positive results.

According to the Commission, Menzgold did not have the license to trade in gold collectibles and that doing so was in contravention of the Securities Industry Act, 2016 (Act 929).

The collapse of the gold trading firm had been blamed on the directive.

Addressing a press conference on Wednesday, the PRO of the Coalition of aggrieved Menzgold Customers, Fred Forson stated that they will do everything possible to retrieve their locked up cash from Menzgold.

“We want to hear from NAM1, we have supported him all this while and it is time we hear from him…we want to demand from the CID that we want to meet Nana Appiah Mensah in person. Wherever he is, he needs to address us as leaders of Menzgold customers.

“If it is not a deliberate attempt on the part of the government to shield and protect Nana Appiah Mensah to loot and create and share our investments, then this is the time that the government should be transparent…and let us know what is happening with our investments.”


Source: Ghana/


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