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Immediate past Chairman for the Coalition of Aggrieved Menzgold Customers, Mr. Timothy Binob has disclosed that governmental institutions turned deaf ears to investors when they petitioned to them for help to refund locked up monies.

According to him, the aggrieved customers of the defunct investment firm tried out every possible means to be attended to but it all proved futile after the Securities and Energy’s Commission (SEC) issued a shutdown on the company.

Mr. Timothy Binob proceeded by saying that their decision to appeal and also hold various demonstrations to the government and other government institutions was for the fact that they contributed to the nation’s development and are civilians of the republic, hence the need for the intervention of the president.

The Former Chairman of the Aggrieved Menzgold customers further mentioned that other high offices that the group petitioned to all ignored included the Ex and Former presidents, Jerry John Rawlings, John Agyekum Kuffuor, John Dramani Mahama and the now-government, New Patriotic Party (NPP) which has already made it blunt to Menzgold investors that there are no possible ways of helping them.

He then fumed ‘…We wrote letters (petitioned) to the government expecting a positive response from them but it didn’t happen that way. When it happened, we the Menzgold customers didn’t sit back. We pressed on with demonstrations and a lot more press conferences too but the results was same, there was no better response from the government. We took all the necessary approaches and petitioned to special councils, the past and present government under Kuffuor, His Excellency John Dramani, and Jerry John Rawlings were all given letters. Churches, group organizations that we felt their voices can be far heard, Chief Imam’s office, we did all these and everywhere we wanted help. Residencies, Parliament, there is no place that we have not called; but they have turned adamant to all this as though Menzgold customers were not Ghanaians, it looked like Menzgold customers don’t pay taxes to promote development in the country…’

Mr. Binob in his subsequent comments quizzed the empathy of the governing party ‘…What Menzgold customers were saying was that since we are also Ghanaians and calling upon the government, if there was any way you didn’t agree with the company, won’t you think about its customers? What wrong have we done to invest primarily in Menzgold and getting our monies locked up, should you get to ask yourself this question, for how long now has Menzgold been in the system? Were all these government institutions not around…?’

 ‘…SEC being the one to shut or close Menzgold down, was it not around? Registrar General, has he not gone to register Menzgold? So when it happens now that a problem has occurred and they have to sort it out, why don’t they sit together with the Menzgold Company to solve the problem but to shut down the company and not think of the customers? If the company was shut down because of lack of funds or it was shut down because they felt they couldn’t do the work again and had ran away with our monies then we would have taken the consequences upon our own selves. But it was not like that…’. The Former Chair stated.

The Coalition of Aggrieved Customers, Menzgold (CACM) is a group of customers whose investments running into several millions of cedis had locked up with the defunct Menzgold Company Limited.

Written By: Josephine Sarpong /

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