Menzgold Clients Promise To Deal With Nam1


Members of the Coalition of Aggrieved Customers of Menzgold have vowed to retrieve up to the last penny they invested with the embattled gold-trading firm.

The aggrieved customers, who participated in a demonstration against the company on Tuesday, 27 November 2018, said assurances by Menzgold to pay them an agreed 15 percent of their principal has since failed.

Chairman for the affected customers, Timothy Demod, said they were pleading with the government to urgently intervene by helping them to retrieve their investments.

Menzgold was shut down by the Security and Exchange Commission (SEC) in August, after initial brushes with the SEC and the Bank of Ghana over the company’s operations.

The state agencies insist Menzgold did not have the licence to conduct business in the manner it was doing it, especially with deposit-taking.

The closure has led to the lock of millions of Ghana Cedis belonging to customers who have invested in what now appears to be the biggest scam to have hit the country.

But the aggrieved customers have given the gold-trading firm a one-week ultimatum to settle them or face their wrath.

Our demo was just to serve as notice to Menzgold and also plead with the government to help us retrieve our monies. We will make sure that the last penny we invested is retrieved. If the CEO refuses to give us our monies, we will not forgive him and his team,” he warned.

“We became loyal to Menzgold and expected them to pay us our money. Initially, we agreed they cancel the interest and pay us our principal investment within 90 days but for three months now, there has not been any payment” he explained.

The customers have also debunked claims by Menzgold that it has started paying some of the customers.

“None of the customers of Menzgold has received their money but Menzgold is going about deceiving that they are making payment”  he stated on Okay FM. monitored by


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