Opinion

Menzgold Saga: What Zylofon Media signees should include in their New Year resolutions

Per the information in the public domain, the Chief Executive Officer of Gold dealing firm, Menzgold, Nana Appiah Mensah (NAM1) is the owner of one of the popular record labels in Africa, Zylofon Music/media and its associated music platforms such as Zylofon Cash etc.

You don’t need to be told that Menzgold is the backbone or the bedrock firmly holding Zylofon Music record label and all other associated online music/video platforms.

Zylofon Music can boast of top Ghanaian musicians such as Stonebwoy, Shatta Wale, Becca, Joyce Blessing, Kumi Guitar and rapper Obibini.

Signed actors and actresses include TooSweet Annan, James Gardiner, Zynnell Zuh, Benedicta Gafah, Bibi Bright and Sima Brew as Zylofon Media fashion Icon.

Nana Appiah Mensah and his Menzgold are likely to be dragged to court by aggrieved Menzgold investors over their huge locked investments with the firm looking at how serious their lawyer, Amanda Clinton has taken up the case and even petitioned six financial regulators including ECOCO, SEC, BoG and the President of the land, His Excellency Nana Addo Dankwa Akufo-Addo.

With the kind of seriousness and the tactics Lawyer Amanda Clinton has deployed in retrieving locked investments of Menzgold customers, the year 2019 will be very tough for Nana Appiah Mensah and his Menzgold.

There is this school of thought that all assets belonging to Nana Appiah Mensah should be liquidated to pay all Menzgold customers if Nana Appiah Mensah refuses to show up to pay customers what they are due.

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Another question that many have asked is what if all the supposed assets of Nana Appiah Mensah are not registered in his name? Mind you some screenshots have already popped up on social media that indeed all properties known to be his aren’t registered in his name, anyway, those are just social media stuff.

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Now, what’s the smartest move Zylofon Media signees should take as we enter the year 2019?

The only smart move a Zylofon media signee should consider taking is terminating his/her contract with the record label because as it stands now, no one knows whether the record label is registered in Nana Appiah Mensah’s name or not!

And if it happens that Zylofon Media is registered in the name of NAM1 and a court of competent jurisdiction rules that the label should be liquidated (which is likely to happen) then Zylofon media signees by law will be controlled by Menzgold customers and you know what that means! The signees are assets of Zylofon Media.

Well, if it turns out that he is not the owner of the record label, then Hallelujah but it’s up to all the signees to take their destinies into their own hands, do some serious evaluations, read meanings into what’s happening and then take a firm decision whether to hang on or part ways because it doesn’t look too good for them since Menzgold has or likely to collapse.