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Menzgold customers to embark on demo today over 4-yr locked-up cash

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Menzgold EOCO 3

Members of the Coalition of Aggrieved Customers of Menzgold are set to embark on a demonstration exercise today, Monday, September 12, 2022, to the Jubilee House over their locked-up monies.

As today marks exactly four years since the gold dealership firm, Menzgold was collapsed by the government; customers say efforts made towards the retrieval of their monies have been unsuccessful.

Spokesperson of the group, Fred Forson spoke to Citi News on modalities for the presentation of a petition to President Nana Addo Dankwa Akufo-Addo.

“We will converge at 9am at the Customs traffic light. From there, we will do a walk through the Ministries to the Black Stars Square. There, we shall have a press briefing. At 11am, we will present our petition.  It is exactly four years since Menzgold was collapsed and for four years, we have done whatever we could but it appears there are no results. So this time around, we want to petition the president for a presidential intervention.”

Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC) in 2018.

According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.

The SEC said this was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”

Menzgold customers have in the past bemoaned the lack of commitment on the part of the government to have their monies paid to them.

They are also unhappy about the delay in the prosecution of Menzgold’s CEO, Nana Appiah Mensah.

We won’t pay Menzgold customers’ locked up cash – Finance Minister

The Finance Minister, Ken Ofori–Atta, had earlier stated that government will not pay customers of Menzgold.

He said such people invested their monies in Menzgold at their own peril.

Mr. Ofori-Atta said the customers of Menzgold were driven by greed, since the returns on investment promised by the company were unrealistic.

“As we try to clean up the financial services centre, I know the SEC has come down hard, strong, and justifiably on Menzgold. But the issue with a company of Menzgold…it’s become an issue of greed as a people and our own behaviour when we are so clear as educated as we might be that when we went there, there was no license.”

“I think it is not in the place of government to fund or get your money back for you. It was an obvious trap that you went into. Maybe we as an industry should also push the whole issue of education and empowerment so that people do not fall prey to that,” he added.         

Sourcce: citinewsroom.com

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The president needs to show leadership to stop ‘dumsor’ – Agyeman-Duah

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Professor Agyeman-Duah also chastised the administration for the slow speed at which it is addressing electricity concerns. He argues that given the frequency of power outages, the government should have taken a more serious approach to finding long-term solutions, but this has not been the case.

Professor Baffior Agyeman-Duah, a Governance Expert, has urged President Nana Addo Dankwa Akufo-Addo to show leadership by summoning all major players in the power sector, including the Electricity Company of Ghana (ECG), the Ghana Grid Company Limited (GRDCo), the Volta River Authority (VRA), and the Public Utilities and Regulatory Commission (PURC), and giving them marching orders to resolve the power crisis.

He believes he’ll be astonished if the president hasn’t done so already.

Speaking on the Ghana Tonight broadcast on TV3 on Monday, April 22, Prof Ageyman Duah remarked, “I will be surprised that the president has not called the leadership of the VRA, GRIDCo, ECG, and PURC, to sit them down to give them the marching order that he doesn’t like what they are doing.

“That is leadership, we need the president to be giving the marching orders. As I said, if he has done it privately I don’t know but based on the public pronouncements by these state agencies in charge of the energy sector, it seems like he hasn’t done that.”

Professor Agyeman-Duah also chastised the administration for the slow speed at which it is addressing electricity concerns.

He argues that given the frequency of power outages, the government should have taken a more serious approach to finding long-term solutions, but this has not been the case.

He went on to say “The government hasn’t been too active in seeking solutions to problems”

Prof. Baffour Agyeman-Duah also urged the state power distributor, the ECG, to produce a load-shedding schedule.

This, he believes, will help power consumers arrange their lives more effectively.

“The wise thing to do is to issue a timetable,” Professor Baffour Agyeman-Duah said.

Meanwhile, Richard Ahiagbah, Director of Communications for the New Patriotic Party (NPP), has stated that power shortages in certain areas of the country are annoying.

However, he stated that there is light at the end of the tunnel for the problem.

Mr Ahiagbah ascribed the problem to the Electricity Company of Ghana’s (ECG) maintenance work.

He told us that the job would be done quickly.

“The recent power outages have been understandably frustrating. However, there is an end in sight. The maintenance works are almost complete, and we can soon expect access to an uninterrupted power supply around the clock, as we have become accustomed to under the Akufo-Addo-Bawumia Administration.”

Regarding the criticism that members of the National Democratic Congress (NDC) have made against the administration over the outages, he stated, “The NDC is the last political organization to point fingers because Ghana has not forgotten the hurts of the ‘real dumsor,’ suffered under H.E. Mahama.

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Gomoa Akotsi: Truck collides with a police car, killing one and injuring several others

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It struck a Chinese national's car before colliding with a police vehicle stationed on the side of the road near Akotsi Junction. An eyewitness, Nai Appiah Nortey, told Citi News that several cops were in the parked police car and two more were in the trunk. The police were said to be making purchases nearby when the tragedy happened. "The vehicle was descending from Gomoa Akramah hills towards the Akotsi junction. But it suddenly lost control, crossed the main road, and collided with a police vehicle sitting on the shoulder of the road. It pulled the police vehicle and then parked in front of a business.

A collision on the road between Gomoa Akramah and Akoti Junction in the Gomoa East District, Central Region, is said to have killed one police officer and badly wounded many others.

According to sources, a KIA Rhino truck (registration number GX 4135-24) had a braking failure and went off track.

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It struck a Chinese national’s car before colliding with a police vehicle stationed on the side of the road near Akotsi Junction.

An eyewitness, Nai Appiah Nortey, told Citi News that several cops were in the parked police car and two more were in the trunk. The police were said to be making purchases nearby when the tragedy happened.

“The vehicle was descending from Gomoa Akramah hills towards the Akotsi junction. But it suddenly lost control, crossed the main road, and collided with a police vehicle sitting on the shoulder of the road. It pulled the police vehicle and then parked in front of a business.

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“There were some police officers in the trunk of the truck, and some even fell out as soon as the collision occurred. “One person has died, and the rest, including the Chinese national, have been rushed to the Trauma and Specialist Hospital in Winneba,” Nai Appiah Nortey said.

The Central East Regional Operations commander and other senior officials came on the spot to evaluate the magnitude of the damage.

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Calls for Napo’s removal as Energy minister intensifies

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“Where we have gotten to, there is no circuit and so what is the use of the minister in that space? He must be relieved, probably to concentrate on any other agenda he is bidding for. He must be relieved of his post. It is becoming too much. Is it not insulting with the statement that he made? Total disrespect to consumers. Are we asking for too much? “For God’s sake, I am a prepaid consumer. I have paid for that power that you need to supply me. In fact, you chose to put a meter in my house at a fee, that is also a contract in a form, and he chose to take my money in advance. “If I am not going to get the power, then just out of respect, at least tell me when I can have the power. But don’t look into my face and say, I should go and produce my own timetable.”

The Institute of Energy Security (IES) has urged for the urgent dismissal of Energy Minister Dr. Matthew Opoku Prempeh, citing the escalating energy situation.

According to the IES, the current status of the energy industry demands immediate action, leading to their call for the minister’s removal.

Nana Amoasi VII, Executive Director of IES, voiced concern with the minister’s apparent delay in an interview with Eyewitness News on Monday.

He emphasised the minister’s apparent separation from the realities of the energy situation, raising the question of his position in such a key location.

“Where we have gotten to, there is no circuit and so what is the use of the minister in that space? He must be relieved, probably to concentrate on any other agenda he is bidding for. He must be relieved of his post. It is becoming too much. Is it not insulting with the statement that he made? Total disrespect to consumers. Are we asking for too much?

“For God’s sake, I am a prepaid consumer. I have paid for that power that you need to supply me. In fact, you chose to put a meter in my house at a fee, that is also a contract in a form, and he chose to take my money in advance.

“If I am not going to get the power, then just out of respect, at least tell me when I can have the power. But don’t look into my face and say, I should go and produce my own timetable.”

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