The Chief Executive Officer of Menzgold Ghana Nana Appiah Mensah a.k.a NAM1 says they will today December 18, 2019, announce a payment plan and schedule for payment for its numerous customers whose investments are held up with the company.
This development has come about after Menzgold directed that customers visit their respective outlets to validate their documents in November.
Nana Appiah Mensah, ahead of today’s planned announcement, asked customer groups to forward their views and opinions about the intended payment schedule to their offices.
READ ALSO: Gov't considers Menzgold's plea to help them retrieve $39m?
Background
About GH¢200 million of depositors cash is believed to be held up at the collapsed gold dealership firm Menzgold.
Menzgold folded up last year after the Securities and Exchange Commission (SEC) ordered it to suspend its operation with the public. Several efforts by the customers targeted at the company to get their monies have failed to yield any positive results.
According to the Commission, Menzgold did not have the license to trade in gold collectibles and that doing so was in contravention of the Securities Industry Act, 2016 (Act 929).
The collapse of the gold trading firm had been blamed on the directive.
READ ALSO: Court turns down state prosecutors request for long adjournment of Menzgold case