Nana Appiah Mensah
The embattled Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah popularly known as (NAM 1), has expressed his frustration over the Ghana Police Service’s decision to deposit GH₵2.5 million with the Bank of Ghana (BoG), intended for payment to customers.
During an interview on Morning Starr with Francis Abban on Wednesday, NAM 1 criticized the police for deviating from the agreed arrangement for the distribution of the funds. He stated that the police were initially approached to provide security and a distribution desk, not to handle the distribution themselves.
“The intent was not to give money to the police to distribute. We went to the police because we wanted security. The agreement with the police was to have them provide a desk where we could distribute the money,” NAM 1 claimed.
Astonished by the police’s decision to deposit the money with the BoG, NAM 1 expressed his intention to retrieve the funds from the police and take matters into his own hands if necessary.
He emphasized that the court was not responsible for compensating his customers, as he had only sought the assistance of the police for security purposes.
The GH₵2.5 million deposit stemmed from investigations into petitions filed by customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited against NAM 1, currently under the jurisdiction of the Accra High Court.
On the advice of the Office of the Attorney-General, the police received the amount on October 20, 2023.
In a statement released by the police administration, they clarified that the funds had been deposited into the Police Exhibit account at the Bank of Ghana for the attention of the court. Furthermore, they highlighted that the court would determine the disbursement of the money.
“We would like to state that the decision on the disbursement of the money would be determined by the court,” the statement indicated.
The dispute between NAM 1, the police, and the Bank of Ghana regarding the distribution of the GH₵2.5 million has further complicated an already contentious situation involving Menzgold Ghana Limited. As stakeholders eagerly await the court’s decision, customers continue to grapple with the uncertainty surrounding their investments.
By Vincent Kubi