A coalition of the Aggrieved Customers of Menzgold Ghana Limited has given the government of Ghana a three-day ultimatum to provide it with a payment plan for the retrieval of their monies from the embattled investment company.
The group in a press conference gave the government three days, which starts from today February 4 to Thursday, February 7, 2019, to provide the plan.
The coalition of customers whose monies are locked up with Menszgold further called for a consideration of the use of taxes to reimburse people whose monies are locked up with the company.
Members of the group who spoke to the media at the press conference said they feel the government have neglected them.
“We intend to embark on a number of demonstrations in this country, regarding this Menzgold saga. We want to let the government know that until this matter is resolved, we are not going to sit on the fence, for our hard earned investment to go waste. That is why we are giving government this ultimatum.”
They also made it clear that, if the government doesn’t come up with something concrete after the three days, they’re going to embark on series of protest because they believe if the government was able to use state funds to salvage collapsing banks owned by private individuals, government should be able to do same for them.
Hundreds of Ghanaians are having their monies locked up with Menzgold, and some have gone to court to seek redress.
This was after Menzgold was asked by the Securities and Exchange Commission, SEC, to stop it’s business because it was illegal.
The company has since then struggled to pay its clients, giving credence to suggestions that the CEO of the company, Nana Appiah Mensah popularly known as NAM 1, was running a ponzi scheme.
However, NAM1 who’s the CEO of the embattled company has been arrested in Dubai for fraud and would be in Ghana after he completes his trial process in Dubai.