Menzgold releases validation schedule ahead of customer payments

The validation of documents is part of efforts by the company to refund customer investments.

In a statement, Menzgold said the validation of customers will begin from Monday, 28 October 2019.

The exercise will be held for a period of one month at the company’s various outlets in the Greater Accra, Central, Ashanti and Western regions. 

“As part of our efforts to finally discharge our financial obligations to our cherished customers, we have tabled down the following schedule to commence the process of validation in order to settle all verified claims of our customers,” a section of the statement reads.

“Validation documentation starts from 28^th October to 28^th November, 2019," the statement added.

Menzgold has been in the news in recent months following the company’s troubles with state regulatory bodies over its operations.

The Central Bank and Minerals Commission maintain that the company has been taking deposits and locally selling gold despite not having the requisite license to do.

However, the seriousness of the issue was confirmed last September when the Securities and Exchange Commission (SEC) directed the gold dealership firm to shut down its gold trading activities.

Currently, the operations of the company remain closed to the public, with several customers agitating for a refund of their investments.