Soldiers’ Fate Over Menzgold GH¢2.5m Suit To Be Known On Thursday


The Accra High Court has set Thursday, February 28, for a default judgement in the case in which 53 soldiers have sued Menzgold Ghana Limited, a gold dealership company, for failing to pay back their investment, totaling, GH¢2.5 million.

The court presided over by Justice Jerome Noble Nkrumah is expected to deliver its ruling in the case involving the military officers and embattled gold dealership company, Menzgold, after they failed to make a defence in two separate hearings.

Counsel for the soldiers, Yaw Owusu Anane – Asante subsequently on February 20, this year, filed a motion Image result for menzgoldpraying the court for a judgement in default. The plaintiffs, per the writ of summons issued on December 12, 2018, are praying the court to order a refund of their money, ranging between GH¢18,000 and GH¢ 244,000 which are their principal investments.

They argue that even if the defendant claims that it cannot pay their interest, they are entitled to their principals. In their statement of claim, the soldiers described themselves as hardworking men and women of the Ghana Armed Forces and contended that they had invested their “sweat and tears” in the defendant company.

The plaintiffs said they were worried that their hard-earned money from what they termed as “sleepless treks and peacekeeping missions” was what they had invested in Menzgold. They also prayed the court to direct the defendant company to refund their investments.

SoldierFifty – three soldiers in January, dragged Menzgold Ghana Limited to the High Court for failing to pay back their total investment. The plaintiffs were made up of men from the Ghana Navy, the Ghana Air Force and the Ghana Army, prayed the High Court to order a refund of their money, after efforts to retrieve the money proved unsuccessful.


President Akufo-Addo in his State of the Nation Addess last Thursday, said, the recently inaugurated Presidential Financial Stability Advisory Council would prevent the emergence of schemes such as Menzgold which has resulted in Ghanaians losing their deposits.

He said the existence of such a body would have forestalled the emergence of the Menzgold saga and made it difficult for any such scheme to get off the ground.

President Akufo – Addo said: “As the authorities try to unravel the intricacies of what happened, I admonish all Ghanaians to learn the necessary lessons for the future, even as State institutions work to bring a resolution to the matter, and those who are seen to have indulged in criminal activities, are brought to justice.


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