Menzgold Saga: Customers must Pay to Check Transaction Status, Says Nam1

Chief Executive Officer of Defunct Menzgold Nana Appiah Mensah (Nam 1) has directed customers to purchase an access card worth 650 Ghana cedis in order to be able to check their transaction status which is part of series of what he termed as "due diligence" before payments. 

In a release addressed to the media on August 18, 2023, the CEO indicated that as part of the final phase of due diligence , customers who believe they have genuine indebted transaction claims should  check their transaction status by acquiring the Mezgold Digital Access Card at Gh 650.00 each from any authorized Pyboy agent to verify their transaction validation status from 10th August 2023- 14th September, 2023, and to also upload the original copies of their transaction supporting documents. 

The company earlier alleged that over 60% of claims made during the validation of transaction supporting documents of customers were fraught with unacceptable infractions which invalidate the questions. 

"Menzgold cannot offer free verification service like we did for the validation exercise, as we are committed to marshal all available resources into paying off our company's debt (liability)", part of the statement read. 

The release further cautioned that customers who fail to undergo the process risks forfeiture of their alleged claims as their right of claim would have been waived by failure on their part to discharge their obligations. 

Read the full release below. 

Nam1 and his Menzgold has been in the news for a few years now after he was arrested and charged for several crimes including defrauding by force pretence in relation to his Menzgold and it's operations. The case has since been in court, coupled with adjournment upon adjournment. 

Some social media users believe that this is just another opportunity to defraud his customers whose finds has been locked up since 2018.