Nana Appiah Mensah, Menzgold CEO

The Chairman of the Aggrieved Customers of Menzgold, Isaac Nyarko, has revealed that the embattled owner of Menzgold, Samuel Nana Appiah (NAM1), is indebted to the Dansoman Branch of SDA Church to the tune of GH¢2,000,000.

According to him, the SDA Church informed the executives of the aggrieved customers at a meeting in Dansoman and asked for help to retrieve the locked funds.

Mr Nyarko made these claims on Burning Issues on Adom FM hosted by Akua Boakyewaa Yiadom.

He added that, over 10 pastors also engaged the leadership over their locked-up funds.

Mr. Nyarko alleged that, there are a lot of prominent people who have their monies locked up with Menzgold but are afraid to come out to avoid being subject to public ridicule.

“Our database shows noble individuals who have their monies locked up with Menzgold Company but are afraid to talk due to fear of victimisation,” he said.

On Friday, October 20, 2023, NAM1 announced in a statement the release of GH¢ 5 million to the Criminal Investigation Department (CID) of the Ghana Police Service to facilitate payment to customers.

But the chairman said only GH¢ 2.5 million has been released, adding he is toying with the customers.

In his view, it will be appropriate if government appoints a receiver who will immediately facilitate the payment between the customers and Menzgold.

This, Mr. Nyarko said, will help clear any doubt about the total number of people NAM1 is indebted to.

He is certain NAM1 has been frightened by the 15-year jail term handed CEO of defunct Capital Bank, Ato Essien, hence his decision to repay the customers.