Customers of Menzgold have staged a massive demonstration in Accra to register their displeasure about how the government is handling issues relating to the investment company that has been shut down.
The disgruntled customers have carefully played the political card by threatening to vote against the NPP government in 2020 if it fails to settle the issues relating to the investment to their satisfaction.
Some of the placards the demonstrators held read” This is not the change we voted for”, Government order NAM1 to pay our money”, Nana Addo be serious with us and Menzgold Customers Aare dying”.
Some demonstrators were seen lying on the road, crying and rolling to make their voice be heard. They have called on the government to form a commission of inquiry to investigate the matter.
The Accra demonstration is the third in the year by customers to press home their demands. The first one was staged on January 8, 2019, in the Ashanti. This was followed by another on the 19th February 2019 in Tarkwa in the Western Region. There are likely to be more of such demonstration by customers until they get what they are demanding.
Regulators, Economic, and Organized Crime and Securities and Exchange Commission stepped in after several attempts to guide the company to be properly registered to do its business.
This lead to the company to halt its operations in what it called a gold dealership business. The company said it has obtained the needed documents to operate the business.
Some of the customers who spoke to journalists at the demonstration do not understand why the government cannot use the law to sell the properties of the company to repay their funds that have been locked up in the company. Much more cursed and blamed for their owes.
The government shut the company down after the company was accused of practicing a Ponzi scheme and violating the laws governing their operations.
They sang and chanted the song “Adaa Yesu b3ba no wo beti bobolibobo wu berti Borborlibobor.” Along the loud sound of the brass band that provided the needed beat and rhythm
The deafening screams and chanting by the demonstrators who wore red bands and cloths was made even worse by the brass band music that they played. They expressed their disappointment in the government for the slow pace of the processes to settle the issues.
Their presence on the streets of Accra impacted vehicular traffic and drew the attention of many onlookers.
The “wo beti bobolibobo” which means , we will show you where power lies in the 2020 election was on the lips of every one of the demonstrators present. They have formed an association since the Menzgold company was closed down all in an attempt to champion their course and get the voice to the highest level of government.
Menzgold Investment Interest
When Menzgold was in good standing many early investors enjoyed mouth-watering interest rates ranging between 7% and 10% on a monthly basis. Thus a 10% interest on one’s investment returned a 100% profit in 10 calendar months.
Today, CEO Nana Appiah Mensah (NAM1) of Menzgold according to government is on trial in Dubai as a result of what it termed a gold deal gone bad. Customers who have lost huge investment since the government took the move
The aggrieved customers took the demonstration to the office of the Economic and Organized Crime. The message they have is simple and that is they want all assets of the Nana Appiah Mensah and MENZGOLD sold and the proceeds used to pay them off. In a related development Ken Ofori-Atta the Finance minister has hinted that some 200million cedis of the company is locked up in the company while the company’s assets are also being liquidated.