Menzgold claims it owes customers GHS200 million not GHC1.68 billion

Menzgold claims it owes customers GHS200 million not GHC1.68 billion

- Menzgold Ghana Limited, a gold dealership firm, has set the records straight with regard to its debt to customers

- According to the director of communications of the firm, Nii Armah Amartefio, Menzgold owes its clients GHC200 million and not GHC1.68 billion

- He added that Menzgold is ready to do everything possible to settle debts owed its clients

Gold dealership firm, Menzgold Ghana Limited, has reacted to claims that it owes its customers a total of GHC1.68 billion.

According to a statement released by the business, its debt to customers stands at GHC200 million, and not the GHC1.68 billion being circulated.

The statement comes amidst reports of allegations of fraud levelled against the chief executive officer of the company, Nana Appiah Mensah.

READ ALSO: Details emerge about how NAM1 hid his identity as soon as he arrived in Ghana

Mensah, also known as NAM1, is alleged to have defrauded one Francis Agodzie and 16,000 others of more than GHC1.68 billion.

Reacting to the allegations, the director of communications at Menzgold, Nii Armah Amartefio, explained that the firm will respect figures released by the minister of finance, Ken Ofori Atta.

Amartefio added that Ofori-Atta met with some aggrieved military customers of Menzgold, who had presented a petition to him over their locked-up funds.

Per a report by, Ofori Atta explained that he is aware Menzgold owes GHC200 million.

Amartefio said the company is focused on paying the principals of its customers after winning a Dubai case in which the Gulf state ordered Horizon Diamonds to pay NAM1 about $39 million for gold supplied by Menzgold.

READ ALSO: Black Stars disrespected Kwesi Appiah at AFCON - Gyan reveals

He added that “we need to pay our customers and whatever we need to do, we are going to do and that is what we are doing.”

In other news, lawyer and politician, Capt. Nkrabea Effah Darteh (rtd), has described former president John Mahama as a joker.

According to him, Mahama is a wrong choice insofar as the National Democratic Congress (NDC) is concerned.

In an interview with Okay FM, Effah Darteh added that the former president is simply wasting his time, and as such the NDC should prepare for another term.

He explained that neither the New Patriotic Party (NPP) nor the NDC would be in power forever, and as such, the NDC should find another candidate who can secure power for them.

READ ALSO: NAM1 and sister face 6 fresh charges after his arrival in Ghana

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