Life on the streets is damn hard, yet man ought to eat, cloth him or herself and find a place to lay their head. It is this daily struggle that makes people get on the grind and do the most.
After getting the basic needs, then comes the small luxuries we want to enjoy – just because Abraham Maslow said so.
Charley, with the economy and things getting harder to crack, boys are prepared to do whatever to get going. Illegal stuff to legal stuff – nothing is out of reach once there will be a return.
That is why Menzgold and its promise of very lucrative returns were so appealing, as it turns out, almost all their customers were very satisfied with their work, because the customers are actually the ones fighting the government to allow Menzgold to operate.
September 7, 2018: The Securities and Exchange Commission ordered Menzgold to shut down immediately. According to the SEC, interactions with representatives of Menzgold confirmed to SEC the view that the aspect of Menzgold’s business which involves purchase and deposit of gold collectables and guaranteed returns is a capital market activity under Act 929 and Menzgold doesn’t have a valid license issued by SEC which contravenes the law.
The SEC stopped them from advertising and issuing new contracts to investors whom the SEC believed were being misinformed by Menzgold.
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Initially, Menzgold wanted to prove stubborn but they eventually yielded and shut its doors. It’s still shut with people believing that they will reopen on the 28th of September.
September 14, 2018: A group of young people who called themselves the Coalition of Concerned Youth of Ghana (COCYOGH) embarked on a demonstration exercise to get government and the SEC to allow Menzgold to resume operations.
Their demonstration was part of the #JusticeForMenzgold online campaign that saw celebrities – most of whom have been signed to the Menzgold entertainment arm, Xylofon, post the hashtag on social media – effectively to get their fans to support Menzgold in such trying times of the gold dealership.
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So Mr President are you saying Ken Ofori Atta has votes more than your own son Shatta Wale..How can they bring down a structure that is in Favor of the youths of Ghana all in the name of politics..If Zylofon or Menzgold go down it means you don’t care about we the youth of Gh!
— SHATTA WALE (@shattawalegh) August 11, 2018
Ghana we like to kill our own self and complain we are suffering. How can you have someone like @mn_appiah out of hypocrisy you want to at all cost bring him down. Let’s all support @mn_appiah and Mensagold he is the best that has happen to Ghana in century. #JusticeForMenzgold
— Dosted (@iamDosted) September 15, 2018
September 24, 2018: Ibrah found his way into the Menzgold conversation when he said he would commit suicide if Menzgold is able to open its doors on September, 28 – we don’t what his new wife would say about this.
Apparently, Ibrah has been trying for since last year to meet Nana Appiah Mensah but he keeps ignoring Ibrah.
Nana Appiah Mensah shared a screenshot of WhatsApp conversations on Instagram.
September 24, 2018: Joy News released a video report filed by Israel Laryea from London looking into the operations of Menzgold. That report suggested that Menzgold London is a far cry from the Menzgold we know in Ghana. They are not engaged in the brisk business of selling gold as they do here in Ghana.
September 25, 2018: Nana Appiah Mensah is known for his comebacks and moving to people who attack his business. He has moved to the Bank of Ghana a countless number of times and Israel Laryea should have prepared himself for this.
This morning, Nana Appiah Mensah took to Instagram to dress down Israel Laryea for his report. He called Isreal’s report an “evil smear campaign agenda”.
He even celebrated Israel Laryea’s “stupidity and retarded mindedness”.
September 25, 2018: Israel Laryea also responded to Nana Appiah Mensah’s attack by advising him to focus on resolving the issue Menzgold is facing instead of attacking him for doing his job as a journalist.
September 25, 2018: Nana Appiah Mensah also hit back and told Israel Laryea he is focused and that there will be a resolution to the Menzgold issue soon.
September 27, 2018: Menzgold filed a suit at the Supreme Court suing the Bank of Ghana and the Securities and Exchange Commission for unfairly interfering in its business.
Menzgold wants the court to stop the two state institutions from
September 28, 2018: After announcing a day before, Menzgold started paying dividends to its customers. Earlier in the day, hundred of its customers besieged the various Menzgold offices to retrieve their money.
Meanwhile, the company has released a schedule for the payment based on the maturity dates of the various investments made by its customers.
Between September and now, the Menzgold customers have been demonstrating and courting media attention in an attempt to keep the conversation of retrieving their money ongoing.
Reports of Nana Appiah Mensah fleeing to South Africa to escape from angry Menzgold customers.
January 9: The President Nana Akufo-Addo issued a bench warrant for the arrest of Nana Appiah Mensah, his wife Rose Tetteh and his sister Benedicta Mensah.
Also, all the police have also been ordered to arrest all the directors of Menzgold.
This comes after the police denied reports that they arrested Nana Appiah Mensah last year.
This is still unfolding, we will update this post as and when something new comes up.