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Ghana Police Secures Injunction to Stop Menzgold Customers’ Demo

The Police in Ghana has secured an interim court injunction against a planned demonstration by customers of the defunct investment and gold dealership company, Menzgold, owned by NAM1 to commemorate the second anniversary of the collapse of the company.

The new Inspector General of Police (IGP) James Oppong-Boanuh was the one who filed the injunction at the courts to prevent the event which is being championed by the Coalition of Aggrieved Customers of Menzgold, Ghana, from being held.

“It is hereby ordered that the respondents, the Coalition of Aggrieved Customers of Menzgold Ghana, Isaac Nyarko and Fred Forson are hereby restrained from the intended demonstration to commemorate two years of the collapse of Menzgold Company,” the injunction document which was signed by a Justice of the High Court, Stephen Oppong directed.

The Coalition had earlier announced its intentions to hold a wreath-laying ceremony in commemoration of customers who lost their lives as a result of the locking up of their investments when Menzgold collapsed.

As is required by law, the leaders of the Coalition wrote a letter of notice for their planned event to the Ghana Police via the IGP requesting for security during demonstration exercise which had been slated for September 12, 2020.

“Since the collapse of the company, we have lost over 60 members and many have become bed-ridden due to the continued lock-up of our investment in Menzgold. It is our expectation that your outfit will provide security to help bring the programme to a successful because it will be highly-violent free. The programme is expected to last for two hours with an expected attendance of more than 200 people,” the Coalition said in a statement to the IGP.

In 2018, the Securities and Exchange Commission (SEC) of Ghana asked Menzgold to suspend the operations of its business since it was not properly registered with the regulatory authorities and still had many questions to answer with regards to how it operated. This directive appears to have been the beginning of woes for the company and its clients.

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Random African

Random African loves writing about the African continent. He is consistently in touch with happenings in every part of the continent and derives joy from providing fresh and crisp information for his audience.

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