The chief executive officer of the defunct gold trading company, Menzgold, Nana Appiah Mensah has announced that over sixty percent of claims submitted for validation were plagued with several defects.

Menzgold on July 30 called on its clients to submit supporting documents for validation to facilitate payments.

The company enumerated a number of defects including irregularities or inconsistencies of the records on the face of the documents, fake (fraudulent) supporting documents, fake authorized signatures, among other alleged defects.

Menzgold in a statement, however, urged clients that fall within the over 60 percent bracket but “believe they have honest, genuine and eligible claims to proceed to verify their gold trading transactions status, thus; ascertain as to the validity, invalidity or otherwise of the purported transactions and hence, an eligibility or ineligibility of any claim whatsoever.”


“We entreat confident Customers to acquire a “Menzgold Traders Transactions Status Verification Access Card”, from Payboy Company Limited and/or any of its underlisted agents for a Personal Identification Number (PIN), to be utilized to digitally verify one’s transaction claim eligibility or otherwise,” NAM 1 added in the statement.

Payment to fully validated customers is expected to commence on October 20, 2023.

Below is the full statement

Source: citifmonline