Menzgold suspends payment; says NAM1 is traumatized

Menzgold suspends payment; says NAM1 is traumatized

- NAM1 suspends payment of aggrieved Menzgold clients

- The gold dealership CEO says he is traumatized after some of the customer stormed his residence to collect their funds

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Embattled gold dealership company, Menzgold says it has halted the payment of locked up funds to its customers until further notice.

The spokesperson of the company, Nii Armah Amarteifio in an interview with Accra based Okay FM said, the suspension of the payment is because the Chief Executive Officer of Menzgold Nana Appiah Mensah a.k.a NAM1 is traumatized following the picketing of his private residence by some of the aggrieved clients on Wednesday, January 8.

He added that NAM1 and his son are traumatized, “a situation that has compelled the company to suspend the payment to the batch of customers (zero category) whose turn it was on the payment schedule of the company”.

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Mr. Amarteifio also alleged that he has been receiving death threats from some of the customers. He urged and pleaded with the clients to exercise patience and be calm.

He added that the demonstration by the clients will only frustrate and distract the process of payment and slow things down.

More than 100 irate customers of the defunct gold dealership firm, Menzgold Ghana Limited have massed up at the Trassaco home of the CEO Nana Appiah Mensah (NAM1).

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The customers from Accra, Tarkwa and Kumasi have served notice that they will sleep at the premises of the house until they receive their cash.

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The customers said the company “deceived” them by announcing recently that it has started making payments with some 200 clients benefitting from the first batch of payments.

YEN.com.gh earlier reported that Vice President Dr. Mahamudu Bawumia has sent a strong warning to the heads of the State-Owned Enterprises (SOEs).

Dr. Bawumia charged the State Interests and Governance Authority (SIGA), to sanction managers of the SOE who fail to churn out results or make profits.

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Source: Yen

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