Gold-dealing firm, MenzGold Ghana Limited, has denied media reports that it is paying back 50 percent of the principal investment of its clients.
This comes after a statement which went viral on social media indicated that the company was to pay 50 percent of its customers principal.
According to the fake statement , the payment will be made to only customers whose deposits were made before 13 September 2018 and wish to stop doing business with the gold-trading firm. The remaining 50%, according to the statement, would be paid later.
However, Menzgold, in a statement, called on the general public to ignore the fake statement since it has not issued any media release on the subject matter.
Meanwhile, the company has, however, began paying returns to its customers.
Menzgold has provided a schedule for payment after the Securities and Exchange Commission (SEC) ordered it to close down its business.
In a letter dated September 7, 2018, the SEC said after thoroughly investigating the activities of Menzgold, it had found out, the firm did not have the license to trade in gold collectibles from the public.
According to Menzgold, the suspension of operations has affected its business and must therefore provide a schedule for payment of its customers.
At a press conference on Thursday (September 27, 2018) few hours after Menzgold sued the Bank of Ghana and SEC over the suspension of its operations , the Corporate Affairs Manager of the gold trading firm, Nana Yaw Ofei said they are ‘very much alive to the needs our customers.’
‘It is, however, important to note that the recent circumstances have dislodged the shape and projection of our business.’
‘It’s pertinent to note, however,’ he added ‘that the period starting Wednesday 12 September 2018 to date while the gold vault market has remained forcefully shut by the Securities and Exchange Commission, regrettably shall not attract any form of returns whatsoever as the business of the gold trade has been and is still dormant.’