Menzgold Ghana CEO Nana Appiah Mensah addressed the media today for the first time since his troubles started last year.
NAM 1, out on bail whilst facing charges of defrauding investors, attempted to reassure Menzgold customers about the state of his business at this time.
Like the many businesses closed down in government’s crackdown of the financial sector, customers are often left with nothing in hand despite their investments.
That’s the biggest question Ghanaians were looking for an answer to and Nana Appiah Mensah has revealed that there’s no way he can pay customers whilst his bank accounts are frozen.
“I am not too worried about the assets, but we cannot make any payments to our customers and business associates if especially our Bank Accounts are frozen. We are lying prostrate to the Ghana government to unfreeze it.” Nana Appiah Mensah said.
Nana Appiah Mensah added that they are not against regulation by the government.
He also denied allegations that the company is a Ponzi scheme.