Menzgold Customers Besiege Central Police Station Over Arrested Colleagues

Scores of Menzgold customers have besieged the Accra regional Police headquarters demanding the release of their colleagues who were arrested today at the home of Nana Appiah Mensah.

Over 100 customers of the defunct gold firm were arrested after they stormed the Accra residence of the CEO of the company over their locked up investment.

The customers who have trooped the headquarters say they do not understand the basis of the arrest since they are demanding their monies.

The customers who accuse the police of using brut force on them say they will remain at the police regional headquarters until their colleagues are released.

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They are also begging President Akufo-Addo to rescind on his earlier decision not to intervene in the matter.

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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:

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  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.
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  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;


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