Gh¢2.5m retrieved from NAM1


The Ghana Police Service has received an amount of GHC2.5 million from suspect Nana Appiah Mensah, popularly known as NAM1, the Chief Executive Officer of the defunct, MenzGold Ghana Company Limited.

The amount has been deposited at the Bank of Ghana (BoG) based on the advice of the Office of the Attorney General and Minister of Justice, an official statement from the police has said.

The Police, in a statement, disclosed that “the said amount has been deposited in the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the court.”

“The amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah, popularly known as NAM1,” it explained.

“We would like to state that the decision on the disbursement of the money would be determined by the court,” the police statement added.


MenzGold had said that the payment marks a significant stride in resolving the enduring concerns of those who found their investments locked.

Menzgold emphasised that the current payment process would be exclusively for clients who had diligently followed the stipulated procedures during the settlement process. 

The company urged those eligible for payment to strictly adhere to the specific dates provided to them during the completion of the required forms.

The list of customers scheduled to receive payments will be forwarded to the police by Menzgold to facilitate a seamless disbursement process. 

The forthcoming disbursements are expected to bring a sense of relief and closure to the concerns of Menzgold’s esteemed clientele, signalling a positive turning point for both the company and its dedicated customers.


The Attorney-General and Minister for Justice, GodfredYeboah Dame, during the “Fortieth Cambridge International Symposium On Economic Crime” earlier this year hadassured the victims of the scam that they would be served with justice.

According to him, although, this was due to their negligence and greed, the government will ensure they get justice.

On Wednesday, August 30, the A-G filed new charges against the Chief Executive Officer of defunct Menzgold Ghana Limited, Nana Appiah Mensah. The court hearing has been scheduled for September 19, 2023.

Mr Appiah Mensah has been charged with 36 counts of offences including abetment, defrauding by false pretences, carrying on deposit-taking business without a license, unlawful deposit-taking, and money laundering among others. This is a reduction from the initial charges of 61.

The Attorney General commenced the prosecution of NAM 1 in 2019 where he was accused of defrauding thousands of customers through his gold dealership firm over millions of cedis.

The case has witnessed several adjournments until fresh charges were filed on Wednesday, August 30, 2023.

The amended charges come after Mr Appiah Mensah announced plans to release locked-up funds to Menzgoldcustomers after payment of roughly GHC650 for verification.

Subsequently, he reversed the decision to require former clients to purchase a verification Access Card in order to verify transactions and validate claims following strong backlash from his customers and the public.


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