{"id":13862,"date":"2019-01-08T13:00:25","date_gmt":"2019-01-08T13:00:25","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=13862"},"modified":"2019-01-08T13:18:10","modified_gmt":"2019-01-08T13:18:10","slug":"menzgold-customers-stage-another-demo-in-kumasi-burn-tyres","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=13862","title":{"rendered":"Menzgold customers stage another demo in Kumasi; burn tyres"},"content":{"rendered":"

\"\"<\/p>\n

Some aggrieved customers of Menzgold Ghana Limited are staging another demonstration in the Ashanti Region capital, Kumasi today [Tuesday].<\/p>\n

Despite signs that the company may not be able to conveniently pay them their locked up monies, the customers say their protest is to impress upon them to release the funds to them.<\/p>\n

The demonstrators, according to\u00a0Citi News\u2019\u00a0Hafiz Tijaani, numbering over fifty, have blocked access to Adum from Amakom road, and are demonstrating in front of the company\u2019s Amakom office amidst burning of lorry tyres.<\/p>\n

Previous efforts by the customers targeted at the company have failed to yield any positive results.<\/p>\n

The spokesperson of the coalition of aggrieved customers of Menzgold, Francis Owusu in an earlier\u00a0Citi News\u00a0interview said they also want to impress on other stakeholders in the country including President Akufo-Addo to intervene and assist them recover their investments.<\/p>\n

\"\"<\/p>\n

\u201cIt is going to be one of the mega protests that has even happened in this country because all the Menzgold customers across the country will be coming to Kumasi to protest against the insensitivity of our president towards our plight. We have petitioned Otumfuo Osei Tutu II on this issue and we have been to his office for about three times so we are going to send a letter of reminder to Otumfuo\u2019s office,\u201d he said.<\/p><\/blockquote>\n

The customers have for the past six months, been demanding the payment of their principal investments after the gold dealership company was instructed by the Securities and Exchange Commission to halt their gold trading operations with the public.<\/p>\n

Meanwhile, the police in the region has ordered the group to back down on their action because it is \u201cillegal.\u201d<\/p>\n

The Police in a statement copied to\u00a0citinews said the group had failed to procedurally inform the police about their action in advance.<\/p>\n

It said attempts to reach out to the leadership of the group to hold a meeting to discuss the intended action did not yield any result.<\/p>\n

Menzgold\u2019s challenges<\/strong><\/p>\n

In 2018,\u00a0Over two hundred customers of Menzgold besieged the premises of the company\u2019s head office at Dzorwulu to demand payment of their locked up investments.<\/p>\n

On December 19, some 100\u00a0retired and active Police Officers<\/strong><\/a>\u00a0at the Kasoa Divisional Police Command in the Central Region also filed a writ at the Accra High Court against the company.<\/p>\n

Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).<\/p>\n

According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.<\/p>\n

This, the SEC said was in contravention of \u201csection 109 of Act 929 with consequences under section 2016 (I) of the same Act.\u201d<\/p>\n

The company was however cleared to continue its \u201cother businesses of assaying, purchasing gold from small-scale miners and export of gold.\u201d<\/p>\n

Despite initial protests, Menzgold complied with the directive. It has however failed to fully pay its numerous aggrieved customers the value on their gold deposits as well as their entire investments.<\/p>\n

\u2013<\/p>\n

Source: Citinewsroom.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Some aggrieved customers of Menzgold Ghana Limited are staging another demonstration in the Ashanti Region capital, Kumasi today [Tuesday]. Despite signs that the company may not be able to conveniently pay them their locked up monies, the customers say their protest is to impress upon them to release the funds to them. The demonstrators, according […]<\/p>\n","protected":false},"author":2,"featured_media":13863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"yoast_head":"\nMenzgold customers stage another demo in Kumasi; burn tyres - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=13862\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Menzgold customers stage another demo in Kumasi; burn tyres - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"Some aggrieved customers of Menzgold Ghana Limited are staging another demonstration in the Ashanti Region capital, Kumasi today [Tuesday]. 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