The former gold trading company, Menzgold, has claimed to fulfill its financial obligations to more than 5000 customers, according to statements from its CEO during a Twitter discussion addressing the recent issues related to customer reimbursements, the CEO of the gold dealership firm mentioned that payments have been completed for 5000 clients.
The company had initially requested all necessary documentation from customers to facilitate the payment validation procedure. However, in a subsequent communication, the company clarified that a significant number of submitted claims contained inconsistencies, rendering 60 percent of the claims ineligible for settlement.
Additionally, the defunct company had proposed that customers who had funds tied up should enroll for a fee of 650 cedis to determine their eligibility for reimbursements.
This recent statement release has prompted concerns over the validation fee charged to ascertain payment eligibility.
Customers are urging the management of the gold dealership company to review and adjust the fee structure.
Addressing the concerns, the management in a letter dated August, 20 2023 signed by CEO Nana Appiah Mensah reads, « To request an Access Card for verification, we require Customers to satisfy « Proof of transaction with Menzgold » by providing the following documents via Email at info@payboy.com
« A copy of the Customer’s Gold Trading Agreement and a copy of any National ID card, with both documents bearing the same name »
« Copies of the supporting documents were submitted for validation acknowledgment receipt »
« We urge Customers to contact any of the authorized Payboy Agents introduced in our release on 16 August 2023, for courier arrangements to receive the Verification Access Cards »
Menzgold’s customers have endured locked investments since the Securities and Exchange Commission (SEC) ordered the closure of the firm.
The CEO has faced court appearances on more than 30 occasions without a trial taking place.
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