Gold trading firm Menzgold has urged its customers to keep calm despite the directive from the Securities and Exchange Commission (SEC), for it to stop their trading activities with the public.
The company, however, says it is disappointed in the regulator for leaking to the public, its directive to the company in spite of their cooperation and submission to investigations into their business.
According to the SEC, Menzgold has been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission. The business, according to SEC, is in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
The company has however been cleared to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.”
Responding to the directive, Menzgold said: “The Management of Menzgold Ghana finds it very unfortunate that a letter relating to business discussions between the organization and the Securities and Exchange Commission has found its way to the public.
Actress, Benedicta Gafah in a video, assured all customers of Menzgold should calm down because all their gold deposit is safe.