Menzgold CEO's life under threat – PRO

The life of the CEO of Menzgold Ghana Limited, Nana Appiah Mensah, is under threat, thus, the opacity surrounding his whereabouts, Nii Armah Amaterifio, the acting Director of Communication of the now-troubled firm, has said.

The troubled company, since August last year, has not been able to pay its 1.8 million clients’ extra values or principal investments totalling $200 million dollars following a directive to the company by the Securities and Exchange Commission (SEC) to stop its gold vault market operations over regulatory infractions.

Since that period, NAM1 has not been seen in Ghana. He only tweets or speaks to his radio station, Zylofon FM on the telephone.

There have been claims by some of the company’s aggrieved customers as well as certain people who claim to be close to NAM1 that he is hiding in South Africa or Nigeria.

Already, Finance Minister Ken Ofori-Atta has described the customers of Menzgold as “greedy” people, adding that the government will not spend a pesewa of taxpayers’ money to compensate the aggrieved clients.

Meanwhile, the founder of think tank Danquah Institute (DI), Gabby Asare Otchere-Darko, has revealed that Nana Appiah Mensah (NAM1) has fled Ghana and gone into hiding.

Following a demonstration by aggrieved clients of the company in Kumasi on Tuesday, 8 January 2018, Mr Asare Otchere-Darko tweeted: “I understand the owner of Menzgold, Nana Appiah Mensah, has breached his bail condition and absconded.

“We can’t allow those who allegedly dupe people with such impunity to get away with it that easily. Let’s smoke them out, wherever they are, and throw the book at them!



“While I will not want a pesewa of my tax money to be involved with this Ponzi matter, I believe the majority of Ghanaians will agree with me that the law must come down heavily on those who use such schemes to destroy the lives of many people”.

Mr Amarteifio, however, said: “His life is at risk, and, so, for some security reasons, we cannot disclose where he is at the moment”, he told Kwabena Prah Jnr (The Don) on Ghana Yensom on Accra100.5FM on Wednesday, 9 January 2019.

He further stated that Menzgold is a legitimate business registered under the laws of Ghana, therefore, cannot be a Ponzi scheme as being claimed by some Ghanaians.