Police received GH¢2.5m from NAM1; not GH¢5m – Godfred Dame

The Attorney General and Minister for Justice, Godfred Yeboah Dame has disclosed that Chief Executive Officer of defunct Menzgold Ghana Limited, Nana Appiah Mensah, also known as NAM1 deposited GH¢2.5m to the police.

Godfred Yeboah Dame

He said contrary to the claims by NAM1 that he deposited GH¢5m to the police for the payment of the company’s customers, it was only GH¢2.5m he gave.

Answering questions on the floor of Parliament, the Attorney General and Minister for Justice, Godfred Yeboah Dame, disclosed that only GH¢2.5 million was received from NAM1 and not the reported GH¢5 million.

“The record I have before me indicates that an amount of GH¢2.5 million was paid, so the claim of GH¢5 million having been paid to the Ghana Police Service is untrue. It was only GH¢2.5 million that was paid to the Ghana Police Service by the accused person.”

NAM1 in a statement indicated that an amount of GH¢5 million had been handed over to the Ghana Police Service on October 20 to be distributed to customers of the collapsed firm.


He clarified that the money was meant to be paid to customers who successfully went through a verification process conducted by the company, including a GH¢2.5 million judgment debt.

The CEO of defunct Menzgold Ghana Limited, was on September 19, granted bail to the tune of GH¢500 million with four sureties, none to be justified after he was dragged to court for allegedly defrauding his clients.

Recently, NAM1 disclosed that Menzgold has paid 5000 of its customers. The company had initially requested all necessary documentation from customers to facilitate the payment validation procedure. However, in a subsequent communication, the company clarified that a significant number of submitted claims contained inconsistencies, rendering 60 percent of the claims ineligible for settlement.

Additionally, the defunct company had proposed that customers who had funds tied up should enroll for a fee of 650 cedis to determine their eligibility for reimbursements.


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