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High Court throws out Menzgold suit against SEC and BoG

The High Court in Accra has thrown out a suit filed by the embattled gold dealership firm, Menzgold Ghana Limited against the Security and Exchange Commission (SEC) and the Bank of Ghana (BoG) challenging the authority the two State institutions have over them.

Menzgold Company Limited, last year hauled the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) to court over what it deemed as an unfair treatment being meted out to the company.

Menzgold in its suit was seeking an order from the court to halt these two state institutions from interfering in its business and operations.

The gold hub company was also asking the court to stop the BoG and the SEC from further publishing what it described as “derogatory notices” against its business.

Two state institutions, BoG and SEC, have been at the throat of Menzgold since last year over what the two claim was a breach of operations by the gold hub. 

The suit, filed on September 26, 2018, was seeking “an order of perpetual injunction to restrain the Bank of Ghana and Securities and Exchange Commission, its officers, servants and agents from interfering with Menzgold’s business activities or further acts of disobedience and non-compliance with law by publishing any derogatory notices”.

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