The police shouldn’t have sent my GHS2.5m to the BoG – NAM1 cries

Nana Appiah Mensah, Chief Executive Officer of the Menzgold has disclosed that he is disappointed in the Ghana Police Service.

He said the decision by the police to send an amount of GHS2.5m he gave to them to the Bank of Ghana is disappointing.

Speaking on Morning Starr with Francis Abban Wednesday, NAM 1 further stated that if the police cannot assist in the distribution of the money he will make his own security arrangements and have the money distributed to customers.

“The intent was not to give money to the police to distribute. We went to the police because we wanted security. The agreement with the police was to have them provide a desk where we could distribute the money.

“I am surprised the money has been deposited at the Bank of Ghana. I will go back to the police and ask them to give the money back to me because that was not the arrangement we had,” he added

Mr. Mensah further stated that he “only contacted the police to give us security” adding that “the court has no responsibility to pay my customers.”

According to the police, they deposited the money on the advise of the Attorney General and the Minister for Justice.

Embattled CEO of Menzgold, Nana Appiah Mensah

“The Police, on the advice of the Office of the Attorney-General (AG), on Friday, October 20, 2023, received an amount of GH₵2.5 million from the founder of the defunct Menzgold company, Nana Appiah Mensah, popularly known as NAM 1. The said amount has been deposited in the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the Court”, the police said in a statement.

The police service said the amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah.

“We would like to state that the decision on the disbursement of the money would be determined by the court,” the police service added in its statement.

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.


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