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General News of Thursday, 27 September 2018


Menzgold to recommence customer payments of dividends on Friday

Corporate Manager, Menzgold - Nana Yaw Ofei play videoCorporate Manager, Menzgold - Nana Yaw Ofei

Management of disgruntled Menzgold Ghana Limited say they are ready to pay dividends of customers whose monies have matured.

During a brief interaction with journalists at the company’s headquarters, Corporate Manager of Menzgold, Nana Yaw Ofei noted that the customers are only to make their claims at the respective branch of where they opened the account.

“… We’ve set out a payment schedule starting tomorrow [Friday] to be circulated to all our customers. Customers are encouraged to only visit their branch on the date for their collection as the schedule will be strictly adhered to, to avoid crowding at the branches.”

Mr. Ofei however cautioned that his outfit will only pay customers who were trading with them until September 12, when a directive from the Securities and Exchange Commission, SEC, suspended their operations.

“It is pertinent to note however that the period starting Wednesday 12th September to date while the Gold Vault Market has remained forcefully shut by the SEC regrettably shall not attract any forms of returns whatsoever, as the business of the gold trade has been and still is dormant,”

In a related development, the company has filed a suit against the Central Bank, the Bank of Ghana and Securities and Exchange Commission to court accusing the two statutory institutions of hurting its business.

Menzgold in a suit filed, Thursday is asking the court to slap aggravated damages on the two institutions.

The company insists the notices given by BoG and SEC have been nothing more than an abuse of office by the two institutions and which have caused considerable reputational damage to the company.

The plaintiff wants an order of the court to refrain the two bodies from unnecessarily interfering in its business.

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