Industry critic Arnold Asamoah-Baidoo has warned Menzgold's CEO, Nana Appiah Mensah aka NAM1 to be careful when dealing with affairs surrounding the company.

This was in reaction to the directive released on August 18 informing its clients to pay a mandatory 650 cedis verification fee or risk losing their locked-up funds.

This didn't go down well with many, as NAM1 was accused of trying to swindle his customers again. The payment was later cancelled.

Addressing the issue on United Showbiz on UTV on August 26, Arnold warned NAM1 to put more thought into how he handles communications. He explained that Ghanaians are more cautious of attempts to swindle them and advised him to be circumspect in how he handles the company in the future.

“I think Nana Appiah should have the realisation that the Ghanaians of 2016/2017 are not the same as today," said Arnold. "They are wiser now. That's why you have the pushback, the protest, and the angst that followed the release he brought out."

"If he had brought out that release in 2015/2016, there would have been less opposition to a release like that. But in 2023, if you actually come up with a lousy and flippant release like that, the results are what we are seeing, he quickly called it back," he added.

“So my advice to him is that moving forward, he should be careful, because Ghanaians are smarter now. So before he releases any announcement, he has to be super sure and must go through multiple reviews because the Menzgold matter is not something to joke about, many people have lost their money, lives, and properties. So if he sits in his bedroom and writes anything and thinks Ghanaians will swallow it, he is making a mistake, and that's what he realised. Ghanaians are smarter now,” Arnold remarked.

He also expressed his disappointment in authorities for their lackadaisical approach to dealing with the issue. He wondered why the case had dragged on in the courts for such a long time and called for a quick round-up of the case.

“How can the man have been in court since 2019? He has been in court 36 times. Let's accord the matter some level of seriousness. Unless the authorities are not taking the case seriously, otherwise they should just discard the case and let the aggrieved customers move on. But if they want to find a solution to the situation, they either prosecute him or let the matter be a dead matter,” he said.


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