Home Business Revealed: Government to take over Menzgold and pay customers their principal

Revealed: Government to take over Menzgold and pay customers their principal

Information reaching nsemwoha.com from a high and credible source indicates plans are far advanced for government to take over embattled Menzgold Gold dealership company.

The move is said to have been the result of a long deliberation over whether or not government have to step. The decision to step in is because of the complicity by some state institutions to act in time to close down the gold trading Investment scheme of the company, allowing it to operate for five years without the appropriate license.

Affected customers of Menzgold is said to number up to 1.8 million and a total of about $200million locked up with the firm.

This revelation comes on the back of comments by Finance minister Ken. Ofori Atta saying Menzgold customers were “Greedy” and that government was not going to pay back like they did with DKM which angered customers and led to many threatening to vote against the current government in the 2020 elections.

It can be recalled that SEC on the 5th of September 2018, ordered the shutdown of the gold vault market the company claimed to be trading customer’s gold deposits which they claimed yielded dividend of 7-10% per month.

READ ALSO: Court Orders sale of Menzgold Properties in Kumasi to settle customer

The company paid the said dividend for 5 years without default and the constant yet empty earnings of the Bank of Ghana didn’t stop customers from investing with the gold Dealership firm.

The CEO, Nana Appiah Mensah is reported to have moved his family out of the country for their safety after threats of harm by some aggrieved customers.

READ ALSO: Menzgold Manager caugh at airport running away from Ghana

If the take over materializes, it will be a welcome relief to customers who has be distressed as for some, their life savings were all out into the company. Customers of Menzgold include Security officers, Lawyers, Nurses, Politicians and a host of other professions.

By: Nsemwoha

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