NAM1 Questions Why Police Deposit GHS2.5m Meant for Clients to Bank of Ghana.

NAM1 Expresses Disappointment over Police Handling of GHS2.5m, Vows Personal Distribution to Clients

Nana Appiah Mensah, the Chief Executive Officer of Menzgold, has voiced his discontent with the Ghana Police Service for their handling of an amount totaling GHS2.5 million. Mensah expressed disappointment, asserting that the funds were intended for a different purpose.

During an interview on Morning Starr with Francis Abban, NAM1 revealed that the initial agreement with the police was to utilize their services for security during the distribution of the funds. He stated, “The intent was not to give money to the police to distribute. We went to the police because we wanted security. The agreement with the police was to have them provide a desk where we could distribute the money.“

Mensah was taken aback to learn that the money had been deposited in the Bank of Ghana. In light of this, he has resolved to approach the police and request the funds be returned, citing that this deviates from their original understanding.

Emphasizing his stance, he clarified, “I only contacted the police to give us security” and underscored that the court does not bear responsibility for disbursing payments to his clients.

However, the police maintain that their actions were based on the advice of the Attorney General and the Minister for Justice. They explained in a statement, “The Police, on the advice of the Office of the Attorney-General (AG), on Friday, October 20, 2023, received an amount of GH₵2.5 million from the founder of the defunct Menzgold company, Nana Appiah Mensah, popularly known as NAM 1. The said amount has been deposited in the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the Court.“

This development arises within the context of ongoing investigations involving petitions from clients of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against Nana Appiah Mensah. The police clarified, “The decision on the disbursement of the money would be determined by the court.”

Nana Appiah Mensah, CEO of the now defunct Menzgold Ghana Limited, had previously been granted bail on September 19, to the tune of GH¢500 million with four sureties, none of whom needed to justify their bond, after facing allegations of defrauding clients.