Hundreds of aggrieved customers of Gold Coast Fund Management (GCFM), now rebranded Blackshield Fund Management, have embarked on a demonstration in Accra to compel the management of the firm to pay them their locked-up capital.

Dressed in red attire, headgear and armbands, the vexed customers marched through some principal streets of the capital while carrying placards some of which read: “Mr, President, over 800,000 innocent Ghanaians are dying because of Nduom”, “Dr Nduom, bring back the money of pensioners”.

The demonstration on Tuesday, 15 October 2019, started from the Obra Spot.

Meanwhile, the GCFM has said some of their customers are influencing others against accepting a new payment plan.

According to the firm, the move is aimed at destroying the image and businesses of the Chairman of Groupe Nduom, Dr Papa Kwesi Nduom.

The company said it has announced plans to pay its customers their locked-up funds and, therefore, does not see the need for them to demonstrate.

“We have announced and are following a program of paying our customers, beginning with those with balances below GHS 2,000. We have also recently announced changes to our barter program that will allow customers to acquire brand new items such as generators, televisions, and motorcycles using investment balances. Payments are ongoing and will continue until every customer is satisfied. As we are able to collect our funds from those who owe us, the rate at which we can move to those with higher balances will increase.

“We are currently calling our customers with balances under 2,000 to confirm their mobile money or bank details and make arrangements to pay them. We are aware that members of the group have encouraged those receiving calls not to answer the phone and not to come for their money, arguing that these payments are a tactic to reduce their strength as a unified group. We wish to assure our customers that our phone calls are genuine and urge them to come for their money when contacted,” a statement by the company said Tuesday, 15 October 2019.