Nana Appiah Mensah promises to settle Menzgold customers soon

Nana Appiah Mensah promises to settle Menzgold customers soon

Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah, popularly known as NAM1 has broken his silence following the postponement of his clients’ dividends.

The embattled gold trading firm shut down operations last Friday, October 5, 2018 after it promised to pay customers their monies.

Due to that agitated customers besiege the East Legon branch of the firm to claim their monies.

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Last Friday, the company didn’t open for business because it wants to readjust the payment schedule again.

Menzgold has indicated that the decision had become necessary due to what it has described as “assaults on staff and threats by arms to lives and properties by aggrieved clients.”

However, the CEO of the company took to his twitter page to calm the nerves of the customers.

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According to him, the company is preparing to settle the aggrieved customers soon.

I humbly urge all Menzgold clients to kindly remain calm, as we prepare to COMPLETELY SETTLE all entitlements of any magnitude soon.We've got brands & names to protect.Self-restraint now is critical to maintain public peace & order. All is well.”

Meanwhile, the Communication Director of the company, George Quaye, has resigned with immediate effect.

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George Quaye's resignation was tendered in on Thursday, October 4, 2018 over reasons yet to be confirmed.

History of Menzgold's woes

It all happened when the Bank of Ghana issues a public statement warning against trading activities with Menzgold. According to the letter by the Bank of Ghana, Menzgold Company Limited is on the verge of being sanctioned for involving in the “solicitation, receipt of money or investment and the payment of dividends or returns to its clients” when it does not have the license to do so.

The Bank of Ghana has warned that Menzgold has operated without a license from the Minerals Commission and the Ministry of Lands and Natural Resources thus flouting the Banking laws of the country.

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