Menzgold Reportedly Initiates Payments To Client On October 20 After Years Of Delay

Menzgold Reportedly Initiates Payments To Client On October 20 After Years Of Delay

  • Menzgold has reportedly started paying its clients on Friday, October 20, at the Police Headquarters in Accra
  • Reports monitored by say the payment process started at the security zone at around 9 O'Clock in the morning
  • In recent times CEO of the defunct gold dealership, Nana Appiah Mensah, has promised to adhere to specified payment dates allocated earlier

Menzgold Limited has reportedly announced that it will commence client payments on Friday, October 20, 2023.

The news is coming after months of uncertainty and concern about the gold deposit company's payment schedule after it became defunct.

According to a news report published by Daily Guide on Friday, October 20, Menzgold sources have disclosed that each client's case would be handled with the utmost care as the payment process begins at the Police Head Office at 9 am.

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Menzgold Reportedly Initiates Payments To Client On October 20 After Years Of Delay
Nana Appiah Mensah (R) and a stock showing a hand counting Ghana cedis notes. Source: Getty Images, Facebook/@Nana Appiah Mensh.
Source: Facebook has not independently verified the report by Daily Guide.

This announcement is a significant step forward in addressing the ongoing issues that have affected Menzgold Limited's clients, who found their investments held hostage due to the firm's collapse.

Nana Appiah Mensah, aka NAM1, leading the initiative to reimburse clients, has emphasised the importance of adhering to the specified payment dates that were allocated during the form completion process, the report said.

Clients of Menzgold Limited are eagerly awaiting these long-awaited payments, as they hope for relief and resolution in this ongoing saga.

These payments, if true, will mark a promising turning point for both Menzgold Limited and its many distressed customers.

In August, the once-popular company disclosed that more than 60% of documents submitted by clients for payment were riddled with various issues.

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The company identified defects in many claims, including discrepancies in document records, fraudulent supporting documents, and unauthorised fake signatures.

This was after NAM1 and his team requested clients on July 30, 2023, to provide supporting documents for verification to streamline the payment process at a fee.

NAM1 slapped with new charges by Attorney General

In a separate story, reported that the Attorney General filed new charges against Nana Appiah Mensah, CEO of the defunct gold trading company Menzgold.

The old case against Nana Appiah Mensah was also dropped after three years and 36 adjournments.

Nana Appiah Mensah has been accused of using Menzgold to defraud more than 16,000 people of GH¢1.68 billion.

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