Blackshield Customers
Blackshield Customers

Three members of the defunct Blackshield Fund Management Company (FMC) have been arrested for protesting at the Ministry of Finance’s premises.

The group, numbering about 100 stormed the ministry over their exclusion from the government’s bailout packages for some 53 FMCs.

The Security Exchange Commission’s (SEC), in a letter dated August 30, 2020, said the government was planning to roll out a bailout package for clients.

However, they pointed out that customers of Blackshield, which is a subsidiary of Groupe Nduom will not benefit, explaining owners of the company have filed applications in court to challenge the revocation of their licences.


Public Relations Officer (PRO) for the Accra Regional Police Command, DSP Efia Tenge confirmed the arrest on Accra-based Citi FM.

“This morning we heard a group of aggrieved people have besieged the premises of the Ministry of Finance and we saw that they have blocked the entrance of the Ministry, preventing access.

“Therefore it beholds on the police to come and ensure that they are dispersed and that is what we have done,” she said.

According to her, the gathering was unlawful hence the arrest of three persons believed to be the leaders.

“We keep on saying that if you want to embark on any form of protest or any form of demonstration, go through what the law requires for all of us under the Public Order Act 1994, Act 491.

“If you do not go through this basic requirement then it means that the police will have no other option than to come and disperse the crowd and that is what the police have done,” DSP Tenge added.