Menzgold says it has paid 200 customers on day one of payment plan

The first payments were made after validation of customers across the different branches of the company in Ghana.

This was made known by the Communications Director of the firm, Nii Armah Amarteifio, in an interview with Accra-based Citi FM.

“I can confirm to you that by the Grace of God today we commenced payment and we were able to pay two hundred people today. I will not give you a range but I can tell you for a fact that as we promised our customers that we will commence payment on the 27th December that is today, we have been able to do that and by the Grace of God we’ve been able to pay about two hundred people today, who fall in the zero category as we indicated in our press statement,” he said.

Elaborating on how the validation is done, Amarteifio noted that: “You will be called first; a call will be placed to you and you will be asked to confirm your bank account number if that is done, the money is transferred into your account; that is done by the third party. The most important thing is that we are making payments to customers and today we were able to make payments to about two hundred customers."

The company has been struggling to pay its customers after the Security and Exchange Commission ordered it to stop admitting new members.

The move, analysts say, was to ascertain the true nature of the operations of Menzgold following suspicion that it is a Ponzi scheme.