We'll Pay All Our Customers, but - Nam 1

By Julius Yao Petetsi

CHIEF Executive Officer of gold dealership firm, Menzgold, Nana Appiah Mensah, has made three demands of government as part of measures to pay its customers as the company looks to bounce back.

Mr Mensah has thus assured that the company was committed and willing to pay all those whose investments are locked up with it.

That, however, Nana Appiah Mensah, popularly known as NAM1 said, was dependent on how quick government defreezes the account of the company.

Addressing a press conference in Accra yesterday, the embattled businessman prayed the Ghanaian authorities to "unfreeze our companies' and my personal bank account and assets for us to utilise these as vehicles to get productive in our bid to resolve our liabilities immediately.

"We cannot make any payment to businesses and associates when our accounts still remain frozen" he stressed, adding that "as of now, Brew Marketing Consult, Menzgold, and I cannot credit or debit any bank account in Ghana.

"This is why it is highly imperative [for government] to consider this kind request, as I believe government shares in our resolve and would do all that is needful in our quest to satisfy the populace who are customers," he said.

Secondly, NAM1 is courting government's assistance in making full recovery of the amount owed Menzgold by Horizon Royal Diamond in Dubai, as a result of a court case he won against the firm.

"As an act of good faith, we are willing to engage the Attorney General's Office on the best possible way for them to aid Menzgold by employing international law and diplomatic relations to ensure we achieve this objective," he requested.

Additionally, he wants government to give direction as to which government agent or agency has jurisdiction to regulate the activities of a gold collectible companies so that "we can apply for the necessary certification in order to proceed with our business in a fair and sound manner."

"If these three propositions are reviewed and considered, we shall confidently proceed to make the necessary arrangement to start paying our customers under my watch. This I say with my personal guarantee," he stated.

The Securities and Exchange Commission (SEC) in 2018 ordered the closure of the company over regulatory breaches.

According to him, the directive by the SEC for Menzgold to shut down landed the company, staff, customers and shareholders a "catastrophic blow" leading to what he said were very horrific occurrences that brought untold economic hardship to families, customers and the staff bodies of all subsidiaries of the company.

He refuted allegations that he jumped bail when he left Ghana: "I didn't escape. First, I went to an African country, moved to Europe and then to Asia. EOCO was informed before I left Ghana. I did not jump bail."

"Menzgold" he said "is not a ponzy scheme" clarifying that "it is a gold collectible platform that has a lot of buyers and sellers around the world. It is a platform where gold buyers and sellers meet."

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