Audio: Parliament can’t help you – MP to Menzgold


A member of the Finance Committee of Parliament has revealed a petition by gold dealership firm, Menzgold Ghana Limited was “treated with contempt”.

The embattled company which has over 60 thousand customers petitioned Parliament over its inability to pay clients.


Menzgold wants the lawmakers to serve as arbiters in their battle with the Securities and Exchange Commission (SEC), which has asked the company to shut down its gold vault market – which was not licensed.

In the petition sent to the Finance Committee of Parliament, Menzgold is asking for “a comprehensive payment plan to pay off completely all customers who wish to discontinue their trading of gold collectibles.”

Secondly, the company is asking for “halting of the online migration until the matter is fully resolved pending directive from the regulators.”

But on Asempa FM’s Ekosii Sen programme Thursday, Isaac Adongo said the petition was thrown out because they don’t entertain illegality.

He explained that, as representatives of the people, they will not be seen to be defending a firm which has flouted the law.

Hon. Adongo said the Finance Committee warned the gold trading firm about the illegality of its operations.


“We cannot be a cover for the continuous perpetration of crime” the Bolgatanga Central legislator opined.

He added that Menzgold must be left to tackle its own mess after failing to operate within stipulated regulations. Meanwhile, the Public Relations Officer of Menzgold, Nii Armah Amarteifio said they are waiting for a roadmap from Parliament to begin payments.

Listen to Audio


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