Finance

‘NAM1’s US$39m Dubai money has arrived, pay us now’ – Menzgold customers

 

Members of the Aggrieved Customers of Menzgold say they have been informed that the $39 million the Chief Executive Officer of now defunct MenzgoldNana Appiah Mensah (NAM1), has been expecting from Dubai to pay them their locked-up investments has arrived.

According to the group if it is confirmed that the money has indeed arrived and has been received by NAM1, “that money belongs to customers and should be paid to us.”

NAM1 in 2019 sued Horizon Royal Diamonds DMCC, a Dubai-based company he had business dealings with to retrieve some $28 million (now $39 million in current gold value terms) owed Menzgold by the company for gold supply.

The Dubai court ruled in favour of NAM1 and Menzgold and ordered that the money be paid to the Ghanaian businessman.

A year after the ruling, nothing has been heard of the said money although NAM1 wrote to the government to assist him to get the money into the country.

NAM1 over the weekend signed a new artiste Tiisha onto his record label Zylofon Music at a plush ceremony leaving the aggrieved customers to wonder if he had received the $39 million they have been waiting for to settle them.

In a statement, the customers said: “In 2019, when NAM1 arrived in Ghana from his hideout, he told the world that he’s won a court case in Dubai for not less than $39 million from Horizon Royal in Dubai.

“He asked the government to help him retrieve the money so he can pay his customers. He further wrote to the Attorney General for assistance.

“We have been informed by our sources that the money has been received in Ghana recently by NAM1. When confirmed, that money belongs to customers and should be paid to us.

“We ant to know if it is that money he’s using to sign on new artiste.”

 

Source: Class FM

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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