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Breaking News: Menzgold Commences Customer Payouts with GHC5 Million

Nana Appiah Mensah, the embattled CEO of the now-defunct gold dealership Menzgold, known as NAM1, has officially announced the disbursement of the first installment of payments to Menzgold customers. The total sum of GHC5,000,000 was transferred on Friday, October 20, 2023.


This development comes a few months after Menzgold requested its customers to complete a validation process by paying GHC650 in order to facilitate the release of their locked-up funds.

The statement from NAM1's office indicates that 82 customers have already received their payments from the initial GHC5,000,000 allocated.

"After successfully verifying transactions carried out between August 10, 2023, and September 14, 2023, we are pleased to announce that the first bulk payment batch, totaling five million Ghana cedis (GHC5,000,000), has been successfully disbursed."

“Additionally, full fund of the 82 clients who purchased the Menzgold verification Digital access card prior to our company’s grant same for free shall be completed tomorrow 21st October” — the statement said.

“ Please be advised that of the GHC5,000, 000 first payment tranche, GHC2,500,000 is for the account f a full and final settlement of a compromised judgement debt, to a certain Menzgold indebted to individuals, in a suit No.CM/RPC/0835/2019; The high court of Ghana, commercial Division, Accra.


“Whereas, the other GHC2,500,000 is in favour of over one hundred individuals based on the above. It can safely be noted that, the payments range is between GHC4,000 to GHC2,500.






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