The opposition National Democratic Congress has alleged that the beleaguered CEO of Gold trading firm Menzgold, Nana Appiah Mensah, sponsored the campaign of Nana Addo Dankwa Akufo-Addo and the New Patriotic Party ahead of the 2016 general elections.

According to the Communications Director of the party, Sammy Gyamfi, the NDC is highly informed that CEO of Menzgold, Nana Appiah Mensah had certain favours and protection from the ruling government due to the financial injection into the NPP’s campaign.

“NAM 1 sponsored NPP and the Akufo-Addo’s campaign with gargantuan amount of money…NAM 1’s amorous relationship is the only explanation why state security aided him to escape,” Gyamfi said during the party’s press conference titled Moment of Truth held Wednesday.

The NDC also alleged that NAM 1 was aided by the security officials and members of the NPP from escaping. The NDC questioned why NAM 1’s passport was not seized when he appeared before the EOCO in August last year.

“Is it not intriguing that four months after the shutdown of Menzgold, no director, no shareholder, no member of management has been arrested and put under strict surveillance by the state? Until yesterday Tuesday, no effort had been made by the government to freeze the accounts of NAM 1 and Menzgold.

“Till date, none of his assets and that of Menzgold including his accomplices’ have been confiscated by the government. Within the last three months and despite several warnings by the staff of Menzgold, the government had sat aloof and allowed directors, shareholders and management members to sell assets of the company with some absconding from the country with their loot and that’s a fact.”

Mr. Gyamfi addressing the press said the awards given the embattled CEO of Menzgold by various award ceremonies organized by the Trades ministry gave prominence to the activities of NAM 1.

According to him, Akufo-Addo and his appointees have aided in creating the mess and as such should be part in fixing the challenge by paying customers of Menzgold their locked up investments.

NAM 1, who is on police wanted list for defrauding by false pretence, was arrested in Dubai on December 7 over alleged misrepresentation to security authorities in Dubai.

Officials of the National Security and state officials are in Dubai to work on the extradition of NAM 1.



Customers of the troubled gold trading firm have been demanding the payment of their principal investments after the gold dealership company was instructed by the Securities and Exchange Commission to halt their gold trading operations.

Several efforts by the customers targeted at the company to get their monies have failed to yield any positive results.