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“Investigate The Closure Of Menzgold Including Roles Played By SEC/EOCO” – CACM Calls On Parliament


The Coalition of Aggrieved Customers of Menzgold (CACM) is calling on Parliament to investigate the closure of Menzgold including the roles played by the Securities and Exchanges Commission (SEC) and Economic and Organised Crime Office (EOCO) as well as the bank accounts of the CEO likewise other board members of the company and Brew Marketing Companies.


According to the Customers, they also want to know the whereabouts of some 400kiograms of gold assets also investigated.


Addressing Journalists on Tuesday, the Public Relations Officer (PRO) for the Coalition, Fred Forson said “Ghana should as a matter of urgency treat the unresolved Menzgold issue as an emergency national catastrophe. We call on the government in the spirit and within the wind of cooperation blowing in Parliament to work closely with the august house of Parliament to find an amicable solution to this conundrum that customers find themselves”


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The Aggrieved Customers further hinted that finding a solution will end the near extinction of over a million Ghanaians whose lives and very existence have been shut following the closure of Menzgold.


The PRO told Journalists that it has been three (3) years since Menzgold and Brew Marketing companies were asked to shut down by the Security and Exchange Commission (SEC) following a financial clean-up exercise.


Mr. Forson noted, that singular act, which can be blamed as the major cause of the current hardship in the country.


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“The over one million Ghanaians who are directly and indirectly affected by this development are yet to see any remedy by the government or its agencies in assisting customers in retrieving their locked-up investments.


Speaking about deaths, sickness, and bedridden customers, Mr. Forson said “Over customers of Menzgold have passed away since 2018. In the past two weeks alone, we have buried 10 customers (5 in Kumasi, 2 in Accra, 1 in Tarkwa, and 2 in the Central Region”


He mentioned that their hopelessness as customers of the defunct Menzgold continues to deepen with no future assistance from the government or its agencies insight.


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It is emerging that many customers continuously take ill and face the stark reality of having no money to buy medication or seek medical care.


“While we sorrowfully bury at least 2 customers every month in recent times, our pain is exacerbated by the government’s (and its agencies) unconcerned posture. It has come to our attention that Nana Appiah Mensah who is a major contributor to our current plight has been given a new license with which he has started trading in minerals once again as Ivex Minerals (an ongoing mineral trading business activity).


Touching on the court trial of Nam1, the customers reminded Journalists that since the onset of the Menzgold brouhaha, the government’s remedy has been criminal prosecution of the Menzgold and Brew Marketing.


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Mr. Forson noted that the rampant adjournment of the criminal case (been running for three years) has shown that to date, the state’s prosecution team has not been able to even proffer charges for the trial.


He described that as a clear sign of the government lacking the commitment to prosecute Nam1 as many see the trial as ‘government dancing kpalongo’ in court with the case.


Highlighting on efforts made so far, Mr. Forson stated that a promise by the Finance Minister in 2019 at Burma Camp to the soldiers who were also customers that an Asset recovery committee would be set up to assist in the retrieval of the locked-up money was not fulfilled.


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“We have petitioned the Presidency twice with no response. In one instance, the Ghana Police Operations Team arrested some of the customers. We have also petitioned the Council of State, Former Presidents, Attorney General, SEC but we saw no action” he mentioned.


The Customers hinted that they have also petitioned the Bank of Ghana, Church of Pentecost, Christian Council, National Peace Council, Manhyia Palace as well as other senior citizens and respected Religious Leaders but their efforts have yielded no results.


The Coalition says it is hoping and praying that the Akufo-Addo government listen to their cry and pay back the monies owed to them.


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Watch the video and pictures below:



Story by: Joshua Kwabena Smith

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