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Menzgold saga: President Akufo-Addo wanted to appoint NAM1 as Minister for Business Development

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Deputy General Secretary of the opposition National Democratic Congress (NDC), Peter Boamah Otokunor has alleged that, the President of the Republic, Nana Addo Dankwa Akufo-Addo was on the verge of appointing the embattled Chief Executive Officer of Menzgold Ghana Limited Nana Appiah Mensah as Minister Responsible for Business Development.

According to the Deputy Chief Scribe of the NDC, the President was frequently travelling with Mr. Mensah for business trips, which means he [Nana Addo] was in support and aware of kind of business NAM 1 was doing.


Speaking on Happy FM’s Epa Hoa Daben show, Otokunor said “Nana was travelling with NAM 1 for business trips which means he supports what he was doing and looks at the massive endorsement Nana Addo gave him [NAM 1] on his Facebook page.

Nana Addo wanted to even make him the Business Development Minister; So President Nana Addo must take full responsibility of the Menzgold saga.”

He added that taxpayer’s money should not be used to pay any Menzgold customer and insist that Nana Addo led NPP government must also be held responsible for the Menzgold impasses and they must find a way to pay these frustrated costumers.


However, the Nana Addo government has strongly stated that it will not pay any Menzgold customer with state money and has urged aggrieved customers to seek redress in court.

A statement signed by the Information Minister, Kojo Oppong Nkrumah, said the customers since April 2016 ignored several warnings by the Bank of Ghana and the Securities and Exchange Commission not to do business with Menzgold.

According to government, even though it sympathises with misfortune of the customers, it will only ensure that CEO of the troubled gold firm Nana Appiah Mensah is arrested and prosecuted according to the laws of the country.


On Wednesday, January 9, 2019 an Accra court issued a warrant for Mr Mensah’s arrest for allegedly “defrauding by false pretence” while operating his gold firm. His wife and sister are also on the wanted list of 194 countries.


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