In a surprising turn of events, the troubled CEO of Menzgold, Nana Appiah Mensah, better known as NAM 1, has declared his intention to retrieve GH¢2.5 million that was handed over to the Ghana Police Administration for distribution to Menzgold's clients. NAM 1, in an interview on Accra-based Starr FM, expressed his displeasure with the way the police handled the funds, accusing them of committing fraud by depositing the money into the Bank of Ghana.
According to NAM 1, the initial agreement with the police was to provide a secure location for Menzgold officials to distribute the funds to their clients. He stated, "The plan was not to give cash to the police to circulate. We went to the police because we needed security. The agreement with the police was to have them provide a location where we could distribute the money."
NAM 1 was clearly taken aback by the fact that the funds had been deposited at the Bank of Ghana. He declared his intention to return to the police and demand the return of the money since this was not the arrangement they had agreed upon.
Moreover, NAM 1 indicated that if the police couldn't facilitate the distribution of the funds, he would make his own security arrangements to ensure that the money reaches the deserving Menzgold clients. He emphasized that he had only contacted the police to provide security and that the court was not responsible for compensating his clients.
On Friday, October 20, 2023, the Police, acting on the advice of the Office of the Attorney General, received GH₵2.5 million from NAM 1. This amount was then deposited into the Police Show account at the Bank of Ghana for the court's consideration.
However, NAM 1's insistence that this was not part of the original agreement has reignited the Menzgold saga. His determination to retrieve the funds adds a new layer of complexity to an already convoluted situation.
The ongoing dispute between NAM 1 and the authorities highlights the complexities and challenges surrounding the Menzgold case, which has left many investors uncertain about the fate of their investments. It remains to be seen how this latest development will impact the resolution of the Menzgold crisis and the ultimate satisfaction of the clients.
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