Zylofon Media suspends operations effective January 30, 2019, as EOCO seizes NAM1 assets

Zylofon Media suspends operations effective January 30, 2019, as EOCO seizes NAM1 assets

The management of Zylofon Media has announced that operations at Zylofon TV and Zylofon FM have been halted following an order from the Economic and Organized Crime Office (EOCO).

In a statement sighted by YEN.com.gh, the aforementioned decision came after the Economic and Organized Crime Office (EOCO) announced the seizure of all Nana Appiah Mensah’s asset.

According to the statement signed by the Communication Manager of Zylofon Media, Samuel Atuobi Baah, the two stations will stop their operations effective Thursday, January 30, 2019.

Zylofon Media suspends operations effective January 30, 2019, as EOCO seizes NAM1 assets

Nana Appiah Mensah (Photo credit: supplied)
Source: UGC

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Owing to the news release from the Economic and Organized Crime Office (EOCO), dated 29th January and signed by Jacquiline Avotri (Public Affairs), to have all assets of Nana Appiah Mensah frozen, the general public is hereby informed that Zylofon FM and TV will suspend opeartions effective 30th January, 2019,” parts of the statement read.

The statement added, “Being a law abiding entity, we expect that due process be facilitated to restore sanity.

Management of the stations is grateful to all, for the love and support shown us throughout the 13(Thirteen) months of operations as a broadcast firm.

We owe our success to you in several ways as we await a speedy return.”

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Nana Appiah Mensah popularly known as NAM1 for the past months has been in the news after his firm, Menzgold was ordered to halt operations by the Security and Exchange Commission (SEC).

Following SEC’s directive, NAM1’s company has failed to pay his clients their dividends.

He was declared wanted by INERPOL after being charged with defrauding under false pretenses.

READ ALSO: Renault to build an assembly plant in Ghana

NAM1 is currently in Dubai facing charges of misdemeanor and he is set to make his next court appearance by February 4, 2019.

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Source: Yen.com.gh

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