Menzgold demands GHS650 from customers for verification over locked-up funds

• Aug 19, 2023

Menzgold Ghana has introduced a new phase of customer validation in order to expedite the disbursement of funds to customers whose investments have been trapped.

In a communication dated August 18, 2023, the company informed its customers that this validation process is essential due to the results of their initial assessments, which identified a substantial number of claims that did not meet the necessary criteria and were therefore considered ineligible.

“As indicated in our August 8th release: Menzgold has successfully and finally completed the validations of the transaction supporting documents Customers presented for vetting. Unfortunately, it was determined that over sixty percent (60%) of the claims were fraught with unacceptable infractions which invalidate the claims in question.”

The statement also outlined that customers looking to recover their trapped funds would be required to engage in the Menzgold Digital Verification Access Card procedure, aimed at confirming transactions and validating claims.

As per the announcement, the Menzgold Digital Verification Access Card will be obtainable for GH¢650 each through authorized Payboy Agents.

This card will grant customers the ability to review the status of their transaction validation from August 10, 2023, to September 14, 2023. Additionally, customers will be asked to upload original colored digital copies of supporting documents for their transactions.

“To the above end and as part of the final phase of our due diligence processes, we urge all Customers who believe they have genuine indebted transactions claims, to check their transactions status by acquiring the Menzgold Digital Verification Access Card at GH¢650 each. from any authorized Payboy Agent to verify their transactions validation status from the 10th August, 2023 to 14th September, 2023 and, to upload original coloured soft copies of their transactions supporting documents.

“Menzgold cannot offer free verification service like we did for the validation exercise, as we are committed to marshal all available resources into paying off our Company’s debt (liability).

“Please be well advised, that this final exercise is the most important due diligence standard.
“Customers who fail to undergo this process risk forfeiture of their purported claims, as their right of claim would have been waived by the failure on their part to discharge their obligation,” the statement added.