In an open letter, the NAM1 as he is popularly referred to said it is unfair that people will say that Menzgold and Zylofon are the same.
His comments come after some Ghanaians on social media criticised the relaunch of Zylofon Music which was held at its headquarters in East Legon on Friday (June 12, 2020).
The event saw some top celebrities, including Stonebwoy, Zynnel Zuh, Joyce Blessing, and Edem, in attendance.
Most Ghanaians argued that he did not have to relaunch Zylofon music since he has not paid all Menzgold customers.
However, NAM1 in an open letter said every business has liabilities, adding that it is only when the liabilities are more than the assets that there is a problem.
He also said people must treat Menzgold and Zylofon as different entities even though he is the CEO of both firms.
“To say that Menzgold and Zyolofon are one and the same is a very low shot at logic and glaring incredible display of intellectual deficiency and bankruptcy.”
“A child and his/her sibling may have the same biological parents, are obviously from the same family but are two different individuals in every respect. This is a firm factual point at law and in principle,” he added.
He also indicated that they have disbursed GHC9.6million to Menzgold customer “even in our state of dormancy” and hope to pay GHC60million by end of 2020.