Menzgold is yet provide documents we asked for - SEC deputy boss reveals

Menzgold is yet provide documents we asked for - SEC deputy boss reveals

- The SEC is yet to receive any of the.documents it is expecting from Menzgold

- This was revealed by a deputy director with the commission in an interview

The operations of embattled investment firm, Menzgold Ghana may not resume this week as earlier announced by the company.

This follows latest revelation that the company was yet to provide the necessary documents as required by the Securities and Exchange Commission (SEC).

According to the deputy director of the SEC, Paul Ababio, Menzgold has not submitted to them the documents they asked for yet and that they are still waiting them to do so.

Menzgold is yet provide documents we asked for - SEC deputy boss reveals

Menzgold's office in Accra

The SEC ordered the shutdown of Menzgold last week over aspects of its operations which the commission deemed to be breaching regulations.

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Menzgold issued a press statement agreeing to comply and find an amicable solution. It assured its customers that it will resume its operations on September 28.

Since the suspension of Menzgold's operation, customers have been left worried with many complaining that they have been stopped from retiring their investments.

Speaking in an interview with Joy News, Mr Ababio explained that the SEC's directive does not stop Menzgold from honouring its contractual obligations with its existing customers so it can go ahead and pay them.

The SEC deputy boss stated that his outfit's main objective was to ensure that Menzgold's activities are regulated well since some aspects of the business fall under their jurisdiction and the of Bank of Ghana.

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'The SEC has stopped Menzgold from honouring payments to it’s existing customers. The company can go ahead and pay its customers what they owe them per contractual agreements they have with clients but cannot take in any new deposits or customers until a decision is reached,' he said.

Meanwhile, YEN.com.gh earlier reported that Joy News' Israel Laryea has defended himself against insults from Menzgold CEO Nana Appiah Mensah who is popularly known as NAM 1.

According to the Joy FM/TV presenter, it is highly unnecessary for NAM 1 to attack him instead of focusing on solving problems with the SEC.

His comment followed an attack on his personality by NAM 1 on Instagram over Laryea's video report concerning the activities of Menzgold in London which has gone viral.

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In a related development, a social media user has exposed Afia Schwarzenegger over claims that her mother has.a GHC4m investment with Menzgold.

According to the Instagram user @maame_dora, Afia Schwarzenegger’s mother is a very poor woman who cannot boast of even Ghc500 in her bank account and that the investment Afia is ranting about is not for her poor mother.

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Source: Yen.com.gh

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