Some Menzgold customers have stormed the East Legon home of the CEO of the company Nana Appiah Mensah popularly known as NAM 1.

The irate customers who went to the premises in buses are demanding the payment of their locked up investment.

It comes after NAM 1 boasted on social media that about 200 customers have so far been paid following the validation of their documents, a claim the customers dispute.

The police have reportedly arrested some of the customers who besieged the Accra premises.

In a much-awaited payment schedule in December, the company said customers who did not receive any interest on their investment from the start of contract will be the first to be paid beginning Friday, December 27.

Below are details of a statement by Menzgold

Menzgold Payment Schedule and Formula Following our broad consultation regarding model(s) of payment and formula, coupled with our commitment to bring finality to this pending subject, we are privileged to announce the following:

  1. Payments shall be made strictly following a “reverse mechanism”, which implies from the last day (month) of our business operations to the very first day when our business commenced. Thus; from 12th September 2018 to 18th March 2013. To this end, we shall start to settle all transactions in September 2018 and those who didn’t access any extra values, as we proceed in the first above described mode and manner.


  1. Payments start on Friday, 27th December 2019 with funds at hand now, as we proceed to go recover the debt owed Menzgold overseas, especially in Dubai and Europe to come reinforce as payments sessions continue.


  1. As of today, Menzgold assets remain frozen; implying that we cannot access any of our offices nationwide, credit or debit any bank account in Ghana. In view of these constraints, our lawyers shall agree with claimants upon invitation, as to where and how to legally receive payment.


  1. Claims shall be settled in full and shall be subject to an invitation from our legal team; Kwame Akuffo & Co. Unlimited, strictly following the below indicated scheduled hierarchical order, all to be settled within 36 months starting from December 2019;