Gold dealership company MenzGold has placed a temporary halt on its gold vault market product services.
This is in compliance with a document from the Securities Exchange Commission that directs the company with immediate effect shuts down ‘the business of trading in gold collectibles with guaranteed returns to clients.‘
In a statement dated, September 12, 2018, MenzGold states;
“Following the notice from the Securities and Exchange Commission of Ghana issued on the 7th day of September, 2018, the Management of Menzgold Ghana limited in its bid to bring some finality to the issues once and for all has decided to place a temporal halt on all extra value payments and any new business related to our Gold Vault Market.”
The company however asserts the operations will be restored after 6 days.
Read full statement from below:
Following the notice from the Securities and Exchange Commission of Ghana issued on the 7th day of September, 2018, the Management of Menzgold Ghana limited in its bid to bring some finality to the issues once and for all has decided to place a temporal halt on all extra value payments and any new business related to our Gold Vault Market.
The halt takes effect from Thursday 13th September and will be in place for 6 days, by which time we believe all pending issues related to the Gold Vault Market Product would have been ironed out.
We are certain this halt would not go beyond the 19th day of September, 2018.
This decision, though very unfavourable to us has been informed by our commitment to the rule of law, absolute respect to state agents, agencies and total submission to the state.
We would, as usual count on your understanding and cooperation during this period.”
