Police deposit NAM 1 GH¢2.5m at BoG; Court to determine distribution

• Posted on October 25, 2023October 25, 2023
• by Nana Kwesi Coomson
• Comment

The Ghana Police Service has announced that it has deposited a total amount of GH¢2.5 million received from the Chief Executive Officer of the defunct gold dealership firm, Menzgold, Nana Appiah Mensah, known as NAM1 to the Police Exhibit Account at the Bank of Ghana (BoG).

The GH¢2.5 million forms part of the GH¢5 million payment of which GH¢2,500,000 is for the account of full and final settlement of the eight (8) compromised judgment debt to certain Menzgold indebted individuals in suit no.CM/RPC/0835/2012: The High Court of Ghana, Commercial Division, Accra.

While the remaining GH¢2,500,000 is in favour of over one hundred individuals with payments ranging between GH¢4,000 to GH¢25,500.

According to a statement issued by the Police Service, the money was deposited to the bank upon advice from the Attorney General, while the disbursement will be determined by the court.

“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 NAM 1.

“We would like to state that the decision on the disbursement of the money would be determined by the court,” the police said in a statement on Tuesday, October 24.

NAM 1, in an earlier statement, revealed that his defunct company has made a transaction verification exercise resulting in the first bulk payment of the GH¢5 million.

According to him, the payment forms part of Menzgold’s intended commitment to achieve zero percent debt liability before the end of the next calendar year.

By Prince Fiifi Yorke