Nana Appiah Mensah
Menzgold Ghana Limited has released a payment schedule to settle its financial obligations to customers.
The announcement comes after more than a year of its legal battles in Ghana.
The Company’s Chief Executive Officer, Nana Appiah Mensah, popularly called NAM1, has over the period also faced legal battles in Dubai.
In a statement signed by its Head of Communications, Nii Amarh Amarteifio, Menzgold Ghana Limited indicated that the schedule was part of efforts to finally discharge its financial obligations to customers.
As such, it said, validation of documentations starts from October 28, to November 28, 2019, giving 9am to 4pm as the time for the exercise on each working day.
It announced that designated outlets for the exercise included: Osu, opposite Osu Police Station, behind Glory Oil Filling Station; Dansoman, after the Dansoman Roundabout, Bechem Bus Stop; Odorkor, opposite Anointed Electricals Company; Mile 7, Adjacent Ecobank; Madina, Madina-Tamale Lorry Station; Awoshie, opposite Victory Bible Church, all in the Greater Accra Region.
For Central Region, the exercise is to take place opposite Walantu Junction, after Justap Clinic, Kasoa.
In the Western Region, the exercise would take place at Bogoso, adjacent Multi Credit.
For the Ashanti Region, it would be held at Adum, adjacent Melcom, and Bremang, behind Bremang Park, adjacent Church of Christ.
Customers List
Even though the company has failed to state the total number of its clients due apparently to an ongoing court case, Daily Guide is informed that it has 4,998 customers who have invested their funds in it.
Initially, it was estimated that the Company had 46,000 customers.
In all, Menzgold has seven branches and the Dzorwulu Accra branch, which was its head office, had the highest number of customers.
The total number of customers at the Dzorwulu branch per the list available to this paper is 1,608.
Kasoa branch followed with 978 customers; Tema branch had 880 customers; East Legon, Accra had 603 customers; Kumasi had 586 customers; Tarkwa in the Western Region had 269 customers while Kaneshie and Accra had only 74 customers.
Background
It would be recalled that the Securities and Exchange Commission (SEC) on September 7, 2018, in a letter, asked Menzgold to suspend its gold trading operations with the public.
SEC accused Menzgold of engaging in ‘unlicensed’ deposit-taking and reported the matter to EOCO for interrogation.
EOCO invited Menzgold’s CEO for possible questioning but he reportedly left the country for Dubai where he was arrested on December 7, 2018, at the airport.
He was said to have attempted to enter that country to retrieve a purported $31 million owed him by an Emirati firm, Horizon Royal Diamonds.
BY Melvin Tarlue