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Ghana’s Supreme Court has issued an arrest warrant for the CEO of gold dealership Menzgold, Nana Appiah Mensah, for alleged fraud by "false pretense".

Menzgold allegedly promised customers a return of 7.5% monthly on gold they deposited with them - way above the international average, reports Ghana's privately owned My Joy Online.

But customers said they didn't receive the promised money and on Tuesday more than 100 of them protested outside the Menzgold office in the second city, Kumasi.

The protesters, wearing red and burning tyres, were demanding their money back.