NAM1 asking us to pay GHS 20,000 each for the land meant to compensate us – Customers cry

Customers of the defunct gold dealership, Menzgold have raised alarm over another ploy by CEO, Nana Appiah Mensah a.k.a NAM1 to further defraud them in their quest to recover their locked-up investments.

NAM1 asking us to pay GHS 20,000 each for the land meant to compensate us – Customers cry

The investors have been agitating for their investments since 2018 when Menzgold was shut down by the Securities and Exchange Commission (SEC).


About two months ago, NAM1 announced that he had procured a huge tract of land, part of which he intended to compensate his aggrieved customers.

However, the customers have alleged that in their attempts to take the said land in compensation for their investments, Menzgold is asking them to pay GHS 20,000 each as a processing fee for the land documents.

“For you to acquire that land, you need to make a down payment of GHS 20,000 for him to do the indentures and other things.


“As a group, we find it quite provocative and outrageous, and we are calling on the security agencies to arrest this gentleman immediately.

“We were told that his assets and bank accounts have been frozen so where did he get money to purchase lands and be trading?” a spokesperson for Menzgold customers, Fred Forson told Joy News.

According to the customers, the land that Nana Appiah Mensah and Menzgold are proposing to pay them with is valued at $100 million, so they want the land to be sold and their investments paid in cash.

“So if you [Menzgold] have got lands, sell the land and come and give us our money,” he said.


“We don’t understand why any time NAM 1 dreams of a scam, the people that come to his mind is the Menzgold customers," he added.

In other news, some angry residents of Abuakwa-Manhyia in the Ashanti region reportedly beat up a young man believed to be in his early twenties after he was spotted moving about with a white coffin at night.

According to, an eyewitness who gave his name as Kojo Tawia claimed that he was still awake around 1 a.m when the young man was moving about with the white coffin believed to be for a ritual purpose.

He added that man was carrying the white coffin on top of a Toyota Corolla heading towards the T-junction in the community.

He then approached him when he realized that he was trying to offload the coffin and questioned him but the young man could not give any sensible excuse.


He allegedly told Kojo Tawia that the coffin belonged to the priest of Abuakwa-Manhyia but the said priest denied knowledge of the coffin when he was called to the scene.

His failure to give a reasonable explanation for his action infuriated residents who had gathered around, so some of them subjected him to severe beatings.

They suspected that he might be on a money ritual mission since that is the order of the day among some youth lately.

It is unclear from the story what became of the suspect after the beatings – whether he was handed over to the police for investigation.



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