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Over 60% of Customers Ineligible for Payment After Validation Process –  Menzgold

Nana Appiah Mensah (NAM 1), the CEO of the now-defunct gold trading company Menzgold, has revealed that a substantial portion of claims submitted for validation have been marred by various issues.

On July 30, Menzgold requested its clients to provide supporting documents for validation in order to facilitate forthcoming payments.

However, the company has identified several flaws in the submitted claims. These issues encompass discrepancies or contradictions within the records on the documents, counterfeit supporting documents, and forged authorized signatures, among other alleged defects.

In response, Menzgold issued a statement advising clients whose claims are among the 60% affected by these issues to engage in a verification process. This process entails verifying the status of their gold trading transactions. By doing so, clients can determine the authenticity or invalidity of the purported transactions and consequently assess the eligibility or ineligibility of any claim. (

“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.

Payments to customers with fully validated claims are scheduled to commence on October 20, 2023.


BELOW is the full statement:


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