The cause of the exchange was the decision by the Ghana Police Service to deposit to the Bank of Ghana, an amount paid to the service by the Chief Executive Officer of embattled Menzgold Ghana, Nana Appiah Mensah alias NAM1.
According to Bullgod, the police acted in bad faith when the money which was supposed to be paid directly to some customers of the defunct gold investment dealership firm was deposited with the bank rather.
He suggested that NAM1’s arrangement with the police was for the service to assist in providing security for the distribution of the money and not necessarily to take charge in its distribution.
“He did not give the money to the police to share. He made agreement with the police that he needed security and therefore sought permission to use their premises to disburse the money, the police said yes you can come and do that and he sent the money to the police.
"Now after sending the money to the police, they have gone to deposit the money in their account saying its an exhibit,” he alleged.
His assertion, however, was rejected by other panel members.
According to Arnold Asamoah-Baidoo, the money should not have been given to the police in the first place but rather paid directly to the customers.
Bullgod then suggested that the police then should not have accepted the money but Ola retorted saying “we don’t reject money.”
Bullgod in response used a derogatory remark against his co-panellist stating “Ola you are a foolish man.”
Background
Menzgold on October 21, 2023, announced the release of GH¢5 million to the Ghana Police Service for onward payment to customers including some customers who had sued the company over their locked-up funds following the seizure of its operating license by the Bank of Ghana in 2015.
“Please be advised that, of the GH¢5,000,000 first payment tranche, GH¢2,500,000 is for the account of a full and final settlement of a compromised judgment debt, to certain Menzgold indebted to individuals, in a suit No. CM/RPC/0835/2019; The High Court of Ghana, Commercial Division, Accra. Whereas; the other GH¢2,500,000 is in favour of over one hundred individuals. Based on the above, it can safely be noted that, the payments range is between GH¢4.000 to GH¢2,500,000,” portions of the statement by the company read.
However in a statement, the Ghana Police Service said it has deposited the money, GH¢2.5 with the Bank of Ghana pending a directive by a court.
“The Police, on the advice of the Office of the Attorney-General, on Friday 20th October 2023, received an amount of GH¢2.5 Million from suspect Nana Appiah Mensah, popularly known as Nam 1.
“The said amount has been deposited in the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the Court.
"The amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah, popularly known as NAM 1.
“We would like to state that the decision on the disbursement of the money would be determined by the court,” the police said.
NAM1 following the announcement by the police has come out to accuse the service of acting in bad faith by breaching the terms of their agreement.
watch the exchanges between Bullgod and other panellists on United Showbiz below:
