The Chief Executive Officer of defunct Menzgold Ghana Limited, Nana Appiah Mensah, has handed a sum of GH¢5 million to the Ghana Police Service to be distributed to customers of the collapsed firm.
An October 20th statement issued by management of the company clarified that the money is meant to be paid to customers that successfully went through a verification process conducted by the company, including a GH¢2.5 million judgment debt.
“Following a successful transactions verification exercise conducted from the 10th August, 2023 to 14th September, 2023, we are happy to note that five million Ghana cedis (GH¢5,000,000), which constitutes our first bulk payment batch has been successfully made.
“Please be advised that, of the GH¢5,000,000 first payment tranche, GH¢2,500,000 is for the account of a full and final settlement of a compromised judgment debt, to certain Menzgold indebted to individuals, in a suit No. CM/RPC/0835/2019; The High Court of Ghana, Commercial Division, Accra. Whereas; the other GH¢2,500,000 is in favour of over one hundred individuals.”
The Coalition of Aggrieved Customers of Menzgold has been calling on the government to arrest the CEO of the company for his failure to pay monies owed them after several failed promises.
A July 29 statement issued by management of the defunct company assured customers they would be paid after going through a successful validation process.
An update on the validation process provided by management on August 11 indicated only sixty percent of the customers were successful.
Mr. Mensah was subsequently arrested and granted bail on September 19 to the tune of GH¢500 million with four sureties, with none to be justified.
Menzgold had previously announced its intention to initiate disbursements of matured investments starting on Friday, October 20, 2023 and the act of handing the cash to police appears an execution of that intent.
Below is Menzgold’s statement.
