The Coalition of Concerned Youth of Ghana has hit the street to demonstrate against the directive from the Securities and Exchanges Committee ordering the Nana Appiah Mensah owned Menzgold to shut down one of its products.
According to the youth who hit the street to demonstrate at Kasoa in the Central Region, Nana Addo Dankwah Akufo Addo, the president of Ghana and the Bank of Ghana are deliberating collapsing local businesses including NAM1’s Menzgold.
The youth expressed their disappoint with the BoG, SEC and other financial regulators who are trying to collapsed Menzgold.
SEC in a letter dated 7th September 2018 ordered Menzgold to stop taking deposits from individuals because their license that does not allow them to operate that way.
According to the SEC, Menzgold was given the license to buy gold from small-scale miners and export abroad.
They have therefore been ordered to stop taking more deposit until the required legalities are sorted out.
SEE SOME PHOTOS FROM THE DEMONSTRATION BELOW.
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