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Court stops Menzgold anniversary demonstration 

It has been two years since the gold dealership was declared insolvent and some of its customers have been planning a demonstration to mark the occasion

The police have secured an injunction to stop a planned demonstration by some customers of the defunct Menzgold Ghana Ltd.

The customers were seeking to commemorate the second anniversary of the collapse of the gold dealership firm.

A group calling itself the Coalition of Aggrieved Customers of Menzgold, Ghana was championing the event.

The group intended to hold a wreath-laying ceremony to mark the occasion and to commemorate the customers who lost their lives while their investments were locked up.

However, the Inspector General of Police, James Oppong-Boanuh, has moved to secure an interim injunction to stop the planned demonstration.

Restraint of leaders

Hundreds of aggrieved customers have held several protests since the collapse of Menzgold in 2018.

The gold dealership ran into trouble with the Bank of Ghana (BoG) and Minerals Commission after it emerged that it was taking deposits and locally selling gold without the requisite licence.

The Securities and Exchange Commission (SEC) later waded in and directed Menzgold to shut down its gold trading activities.

The Coalition of Aggrieved Customers of Menzgold had wanted to hold its demonstration on Saturday (12 September 2020).

However, after writing to the IGP to seek security for the event, Oppong-Boanuh also filed an injunction to stop the event.

The injunction document signed by Stephen Oppong, a judge of the high court, barred the leaders of the group, Isaac Nyarko and Fred Forson, from going ahead with the demonstration.

“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 court said.

60 “casualties” and counting 

In the letter to the IGP, the leaders of the coalition said 60 of its members have died without being able to retrieve their funds.

The coalition said many of its members are sick and others bedridden following several futile efforts to retrieve their investments.

“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,” the letter said.

“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 [sic]. The programme is expected to last for two hours with an expected attendance of more than 200 people.”

E A Alanore

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