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General News of Thursday, 11 July 2019


Menzgold is not a ponzi scheme - Oye Lithur to Gov't

Former Gender Minister, Nana Oye Lithur has punched the Nana Akufo-Addo led government to do what is necessary since according to her, the embattled gold dealership firm, Menzgold Ghana Limited is a not a ponzi scheme.

It would be recalled that the Securities and Exchange Commission (SEC) in September 2018 ordered the gold trading firm, to suspend their operations with the public.

SEC said it had thoroughly investigated the activities of Menzgold and had found that, the Nana Appiah Mensah-owned firm does not have the license to trade in gold collectibles from the public.

Since then, Menzgold has had difficulties in paying its numerous aggrieved customers the value on their gold deposits as well as their entire investments.

Some angry customers of Menzgold have on various occasions protested over their monies which have been locked after the gold trading firm was ordered to stop its operations.

Meanwhile, some Ghanaians hit the streets of Accra on Tuesday, July 9, 2019, with massive demonstration dubbed “Kum Yen Preko”, which literally means ‘Kill us once and for all’.

It was organized by the Coalition for Social Justice (CSJ) with support from Central Democrats and Aggrieved Customers of Menzgold.

Some high ranking personalities within the opposition National Democratic Congress (NDC) were seen on the streets with the Ghanaian barrister indicating Menzgold is a clean business entity.

“Menzgold is not a ponzi Gov't do the needful”, Nana Oye's placard read.