Customers of embattled gold dealership firm Menzgold, say they have not received any payment of their locked-up funds although the management of the company announced that they have commenced payments.

According to the management of Menzgold, the company from Friday, December 27, 2019, had begun paying customers their locked-up funds which have been in arrears for the past three years, adding that the company has already begun paying some 200 customers their locked-up funds and is expected to continue with the payment process.

GhanaWeb has however gathered that a number of aggrieved customers confirmed that they have not received any payment as stated by the company.

One customer who chose to remain anonymous said; “We do not know which people have received their cash because we are in a WhatsApp group and our leaders have not indicated to us payment has commenced”.

Another said: “It is not true, no one has sent us messages or called us to inform us about commencement of payment, they claim they have started paying but none of our members has confirmed the receipt of any cash”.

“We have several customer groups and our leaders who say they have not been informed about commencement of payment, so we do not know why Menzgold are claiming that they have paid some 200 people, as I speak now, we have not been paid anything,” another said.

Earlier, Communications Director of Menzgold Ghana, Nii Armah Amarteifio told reporters that his outfit has commenced payment of locked-up funds of their customers.

“I can confirm to you that by the Grace of God today we commenced payment and we were able to pay two hundred people today. I will not give you a range but I can tell you for a fact that as we promised our customers that we will commence payment on the 27th December, we have been able to do that and by the Grace of God we’ve been able to pay about two hundred people today, who fall in the zero category as we indicated in our press statement.”

“You will be called first; a call will be placed to you and you will be asked to confirm your bank account number if that is done, the money is transferred into your account; that is done by the third party. The most important thing is that we are making payments to customers and today we were able to make payments to about two hundred customers”, he explained to reports.

Previously, Menzgold since its collapse in 2018 following a suspension order from the Securities and Exchange Commission (SEC) has been struggling to refund its investors and customers funds.