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General News of Thursday, 10 January 2019


Nana Addo never praised NAM1 on Twitter – Eugene Arhin

The Director of Communication at the Presidency, Eugene Arhin has responded to the alleged fake tweet posted with the President’s Twitter handle on his admiration for the success story of Menzgold CEO, Nana Appiah, popularly known as NAM1.

According to Eugene Arhin, the president’s Twitter handle has never been used for anything of such manner, which renders the development as a fake tweet.

“My attention has been drawn to some comments to the effect that President Akufo-Addo tweeted his admiration for the success story of NAM1. I want to put on record that never has the President’s twitter handle been used to do that. That supposed tweet is a fake and I’m daring anyone to prove that indeed that has been done”

He also mentioned that President never had a one-on-one meeting with NAM1 on the 25th of April 2018.

“On that day, GFA officials and CAF officials, including its President Ahmad Ahmad, paid a courtesy call on President Akufo-Addo, ahead of the conferment of an honorary doctorate degree by the University of Professional Studies. The then GFA President, Kwasi Nyantekyi, only brought NAM1 to the meeting because 4 days earlier, on 21st April, Zylofon had indicated its decision to sponsor the Ghana Premier League. Never on that day did the President have a one-on-one meeting with NAM1 and never on that day did he post that fake tweet being forcefully trumpeted.”

The president and other leading Ghanaians have come under attack over their association with Nana Appiah Mensah who some believe leveraged his relationship with said persons to market his business.

The Menzgold CEO has been accused of duping thousands of Ghanaians with his gold trading company. Some believe that his access to influential Ghanaians gave his business the legitimacy it needed to operate in Ghana.

The company has been unable to pay back the monies customers invested in its gold trading business.

Yesterday [Wednesday] an Accra Circuit Court issued a warrant for the arrest of the embattled founder of Menzgold Ghana Limited, Nana Appiah Mensah.

He was accused of the offence of defrauding by false pretence contrary to section 131 of Act 29/60.

Two other individuals, Benedicta Appiah and Rose Tetteh, are also to be arrested by the police.

According to a private legal practitioner and a known figure in the governing New Patriotic (NPP), Gabby Asare Otchere Darko, Appiah Mensah fled Ghana while out on police bail.

Menzgold’s challenges

In 2018, over two hundred customers of Menzgold customers besieged the premises of the company’s head office at Dzorwulu to demand payment of their locked up investments.

Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).

According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.

This, the SEC said was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”