People & Lifestyle

Guest Blog: The Legitimization of NAM1

Published

5 years ago

December 18, 2018

Guest Blog: The Legitimization of NAM1[/caption] For a man who came to prominence from relative obscurity and controlled huge wealth, there is very little known about Nana Appiah Mensah, popularly known as NAM1’s background or how he came about his wealth. You would have thought that authorities in this country especially the National Security apparatus would have taken interest and looked into the background of such a person especially as he was blowing/investing millions lavishly and some may say, unwisely. Were any background checks done on NAM1 and how he acquired the millions he was investing? If yes, what were the findings? If no, why not?

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From a photo on his Instagram page, NAM1, is seen meeting the President of Ghana at the Jubilee House. Now, this is a photo I place huge relevance on but I have some pertinent questions.

How did this meeting come about?
What background checks were done on the man who seems to have scammed thousands of Ghanaians? What were the findings of any checks? If none were done; why?
What was the purpose of that meeting?

For a man who had unexplained wealth, it was such meetings that were going to gain him legitimacy and acceptance and the President certainly contributed to giving a potential fraudster the legitimacy he needed. I have personally heard accounts of Menzgold clients who say the photo of NAM1 with the President convinced them that the business was genuine and that made them invest in it. And, can you really blame them when the NAM1 being condemned as a fraudster now was given access to the father of the land? Ghanaians deserve answers from the President and his handlers. Also, NAM1 is on record to have visited the Manhyia Palace with an entourage which included some Ghanaians artistes to go and greet the Otumfour. I do not believe that any Asante businessman can simply have access to the Otumfour so the Monarch and/or his handlers will have to indulge us by explaining to us how the man behind Menzgold was allowed access and whether or not background checks were carried out.

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The owner of Menzgold also had the privilege of meeting the leader of the Muslim faith in Ghana, the Chief Imam, Sheikh Dr. Osmanu Nuhu Sharubutu. A Menzgold client who is Muslim confessed to me that after seeing the photo of his leader with NAM1, that gave him the confidence to invest in the business. According to him, he planned to invest GHS 600,000 but increased it to GHS 1,000,000. That is power and influence a photo with the Chief Imam had.

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We can only imagine how many more clients were influenced by these photos of NAM1 with the President of Ghana, the Chief Imam and the Otumfour. There was also a photo of the Menzgold CEO meeting the former President Kuffour and you really have to wonder if all these respected leaders and their handlers cared to look into the background of the man they were meeting. It is only right and proper that these eminent persons come out to explain to Ghanaians and admit their roles in legitimizing NAM1 and his Menzgold. This cannot be glossed over.

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The Ghana Police Service and the CID would also have to explain to us how a guy with criminal background was able to operate so freely and without any hindrance. Why was a blind eye turned by the Police and CID? Is it the money factor? I know the general consensus amongst Ghanaians is that “the Menzgold clients were warned several times” Yes, this is true. There were several notices from the Bank of Ghana (BoG) and one from the Securities and Exchange Commission (SEC). Let us delve a bit deeper into the ‘warnings’ from BoG. But before that, here’s some background about Menzgold. The company started out as MenzBank and later rebranded to MenzBanc and finally, to their current brand name, Menzgold. The suspicion from the timeline of engagement between the authorities and MenzBank-MenzBanc-Menzgold is that the company changed name and tact each time BoG closed in on them for operating illegally and without a license for taking deposits. The final change from MenzBanc to Menzgold had the company changing it modus operandi with the introduction of a subsidiary named ‘Brew Marketing Limited’. A move ostensibly designed to get BoG to back off from their business. Now, back to the public notices (warnings) from BoG. In between the changes from MenzBank-MenzBanc-Menzgold, the BoG had issued warnings to the public specifically about the unlicensed deposit-taking of the company. The company and it’s owner pushed back each time there were such warnings insisting that they were not engaged in deposit-taking and that their operations did not fall under the ambit of BoG. As things stand now, it is not BoG that has determined that Menzgold is operating illegally neither is it BoG that issued a shutdown directive to Menzgold. It is the SEC. So, let’s zero in on the SEC and their role (or, lack of) in all of this. The Complete Failure Of SEC As A Regulator Let me state, first of all, that in the timeline of engagements between the authorities and MenzBank-MenzBanc-Menzgold which spans from October 2014 to June 2018, the SEC is completely missing in action and it is mainly BoG and Minerals Commission, to a lesser extent, who are the authorities featured in this timeline. From my research, I came across a public notice from the SEC on their website dated 22nd September, 2017 in which they were simply informing the public that Menzgold was not licensed by the SEC to operate in the Capital market. As we all know, the SEC, a year after their public notice found reason and basis to determine that Menzgold were operating illegally and directed Menzgold to shutdown their trading in gold collectibles. Let me be blunt here. From my understanding and research on this Menzgold issue, it is clear to me that there has been a complete failure on the part of the SEC to protect Ghanaian investors especially the unsuspecting and uninformed ones. And, this is why I hold this stance. The SEC have been aware of Menzgold since 2017 and yet, only found reason to issue a notice informing the public that Menzgold were not licensed by them. Between September 2017 and August 2018 (a full 12 months) when the SEC refer to a visit they made to Menzgold’s head office; what tangible steps did the SEC take to ascertain whether or not Menzgold were operating illegally and then act accordingly? The SEC cannot claim ignorance about the scale of patronage in Menzgold and/or the potential risks and consequences for the investors and the financial sector so, why did it take them so long to finally act decisively? Even the timing of their intervention is interesting because a little over a week before the SEC’s intervention, there was a news story with the headline ‘Menzgold Clients Furious Over Delay In Dividend Payment; Company Says Money Coming’. Was the business near it’s collapse already and was the SEC intervention designed to give Menzgold a legitimate cover to fold up; or was the timing just coincidental?

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You see, having been born and bred in Ghana and being an ardent observer of happenings in this country especially at the highest levels, I know how easy it is for people in positions of authority to connive with others to dupe the state. In this case, I believe very strongly that people in authority have collaborated with a business to scam Ghanaians. How else do you explain the long period Menzgold operated for before SEC finally realized they had legal basis to shut them down? The SEC claimed that they were waiting for Menzgold to produce certain information before they could proceed with further action but this is despite stating that had completed investigations and had determined that Menzgold were operating illegally. How do you find a business to be operating illegally and yet, you are depending on the same illegal business to cooperate before you take action against it despite the SEC law clearly stating ways to proceed?

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The SEC simply asked Menzgold to shutdown and went to sleep. Instead of handing over their investigation for Menzgold to be prosecuted, they have rather sat down for Menzgold to head to court first. Does this make sense? The Finance Minister mentioned last week that the mastermind behind Menzgold, Nana Appiah Mensah, was going to be picked up by BNI soon. Why has this not happened already? And, for a man who announced plans to build a theatre in Kumasi and also signed a sponsorship deal with the Ghana Premier League worth $10 million, you have to wonder if the Finance Minister bothered to use resources available to him to look into the source of the money NAM1 was blowing. It is very convenient for the Finance Minister, who is a man with great experience in investment business, to seek to heap all the blame on the clients when it is clear he nor his minstry paid any attention to NAM1 or Menzgold.

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Talking about the inertia of public authorities; the engagement between them and Menzgold shows that on 19th September 2017, Minerals Commission wrote to Menzgold pointing out that the company was in breach of the law and the license they had due to Brew Marketing not being registered as a Licensed Buying Agent. What actions were taken against Menzgold for this breach? Here is an excerpt from an OccupyGhana statement on Menzgold from August 2017 which is, over a year ago. “The Bank of Ghana, the SEC and the MinCom have failed Ghana, by neglecting to take any of the statutory steps to ascertain whether MenzGold is involved in any illegal business, and then take control of its activities to ensure an orderly dismantling of it, including ensuring that the actors are punished in accordance with the law. This inaction by the Bank, and the silence of both the SEC and MinCom, are shockingly unacceptable.” It took another full year for the SEC to act decisively after remaining largely silent throughout the period. How can this not be the regulators completely failing in their duty to protect the investing public? In a serious country, I am certain an inquest into this failure would have been long underway with people losing their jobs and even facing prosecution but, this is Ghana. For how long are we going to let our leaders and authorities get away with failing us? Here is a message to my fellow Ghanaians. My people, for how long are we going to allow the elite and the authorities who have responsibility to protect the public interest get away with their failures? As we have seen in the Capital Bank saga, everything that had happened was facilitated by BoG officials who should have ensured the funds were not dissipated. How sure are we that Menzgold were not enabled and facilitated by state actors? We cannot let the authorities get away easily this time. They have questions to answer and they must answer. The lack of accountability must end. We have blamed the clients enough and many are suffering over the uncertainty of their investments. Let us now shift focus to those who were supposed to act as protectors and failed woefully. We must demand accountability and let these leaders know that we are not fools in this country. How and why were Menzgold able to operate fully and freely for so long? How was NAM1 able to meet and interact with the President of Ghana, the Chief Imam and Otumfour? A question for my fellow Ghanaians: Knowing how things work in this country, are we supposed to believe that one man and his company have been able to evade and outwit the authorities in executing their scam? If we do not hold the authorities to account now, we will only be emboldening them to continue scheming to create, loot, scam and share whiles ordinary Ghanaians suffer. This must end. Writer: Nana Yaw Obuoba Email: jaah4u@gmail.com]]>

People & Lifestyle

Caradise Ghana Car Rental Facilitates Transportation for Global Christian Forum held in Accra

Published

23 mins ago

April 26, 2024

Ameyaw Debrah

Caradise Ghana Car Rental has once again successfully facilitated the transportation of over 240 participants from 60 countries across the globe for the recently ended Global Christian Forum in Accra, Ghana.

Numerous buses hauled the various participants from the Airport to their designated hotels from the 12th to 15th of April, 2024. Participants were then transported from their hotels to the conference grounds daily for the gathering of devoted Christians from the 16th to the 19th of April, 2024.

The forum began with a vibrant, joyful worship service held at Accra Ridge Church. The Rev. Dr. Casely Essamuah welcomed participants to Ghana and to the Fourth Global Gathering, and participants spent the day sharing their faith stories with one another across the litany of differences represented.

The forum was climaxed with a dinner and 25th anniversary celebration at the Action Chapel Internation Church hosted by Archbishop Nicholas Duncan-Williams.

After the forum, the participants took the opportunity to visit the Kwame Nkrumah Memorial Park and Mausoleum where they learnt about the great Pan-Africanist, Osagyefo Dr. Kwame Nkrumah and Ghana’s journey to inpendence.

The participants also spent a day in Cape Coast where they learnt about the millions of enslaved, dehumanised African men, women, and children at the Cape Coast Castle. Witnessing first hand how Africans were forcibly taken captive to the Americas, Caribbean, and Europe as objects of lucrative trade.

People & Lifestyle

DJ Khaled Announces Second Annual We The Best Foundation Golf Classic On June 12 & 13 in Miami Beach !

Published

1 hour ago

April 26, 2024

Ameyaw Debrah

GRAMMY® Award-winning, global megastar DJ Khaled proudly announces the return of his annual WE THE BEST FOUNDATION GOLF CLASSIC for the second year in a row.

For 2024, the mega-popular charity event expands to two days on Wednesday June 12 and Thursday June 13 in Miami, FL. Given the demand by countless superstar artists, A-list athletes, and entertainers to participate, he needed to stretch the proceedings over two days!

Once again, the event will be sponsored by Jordan Brand, and all proceeds support the We The Best Foundationand its numerous efforts to bolster education. Stay tuned for the multitude of exciting confirmed guests, and more.

Khaled created a cultural groundswell and personally appeared on ESPN’s SPORTSCENTER to break the news of the second installment of the WE THE BEST FOUNDATION GOLF CLASSIC today. Watch HERE.

Regarding the return of the WE THE BEST FOUNDATION GOLF CLASSIC, he commented, “Last year, the WE THE BEST FOUNDATION GOLF CLASSIC brought out so many friends and family to make a difference, play some great golf, and have an incredible day for a great cause. This year, we’re going even bigger, and we thank everyone for their continued support. TEE UP AND BLESS UP!”

Last year, the inaugural WE THE BEST FOUNDATION GOLF CLASSIC hosted Serena Williams, pro golfers Michael Block and Bubba Watson, Odell Beckham, JR., Shannon Sharpe, Victor Cruz, Jalen Rose, Terrell Owens, Marcus Jordan, Jeezy, Quavo, The-Dream, Swizz Beatz, Timbaland, Fat Joe, Cedric The Entertainer, Joey Fatone, and more. The foundation raised over $500,000 which benefited the enrichment of children and youth through educational programming, scholarships, and extracurricular activities.

More guests and partners for 2024 will be unveiled soon.

People & Lifestyle

Ghanaian activist hugs over 1,100 trees in an hour to set record

Published

5 hours ago

April 26, 2024

VJ Scaro

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An environmental activist and forestry student from Ghana has set a new world record for the most trees hugged in one hour. (more…)

People & Lifestyle

BEING A JUDGE FOR THE MODEL INTERNATIONAL IS A BIG PORTFOLIO – EX MP BARBARA AYISI ASHER

Published

7 hours ago

April 26, 2024

Ameyaw Debrah

Former Member of Parliament for Cape Coast North constituency in the Central Region, Barbara Ayisi Asher, took on the prestigious role of judging the Cape Coast Audition for The Model International, adding yet another feather to her cap of accomplishments. Not only did she oversee the audition, but she also secured her place as a guest judge on the show itself, solidifying her position as not just a politician but a prominent figure in the world of fashion and entertainment.

The Cape Coast Audition, which served as a gateway for aspiring models in the region, marked the beginning of an exciting journey towards discovering West Africa’s next top talents in modeling. However, the spotlight now shifts to the bustling city of Accra, where the next round of auditions is set to take place.

Scheduled for Saturday, the 4th of May 2024, the Accra audition will be hosted at the prestigious Gold Coast Restaurant, conveniently located near Rockstone’s Office, Cantonments. Doors will open at 10 am, welcoming female West Africans between the ages of 18-26, residing or schooling in Ghana, to showcase their flair and passion for the runway, the camera and the screens.

Registration for the audition comes at a nominal fee of GHS100.00, providing participants with a chance to compete for the coveted title of The Model International, mouth-watering contracts and $2000.00 cash prize. To secure a spot in the audition line-up, aspiring models can register online at www.themodelinternational.com/register or seek assistance by contacting Esther, via call or WhatsApp on +233 50 890 6222.

The Model International promises to be a spectacle of talent, elegance, and glamour, captivating audiences across the nation. Set to premiere on Metro TV from the 1st of June 2024, viewers can tune in every Saturday at 8 pm to witness the unfolding drama and excitement of the competition.

As the anticipation mounts and the countdown to the grand premiere begins, the stage is set for an exhilarating journey towards declaring the next face of West African modelling and fashion. With Barbara Ayisi Asher involved, The Model International is poised to redefine standards of cat walking with grace, elegance in front of the camera and shaping the future of the fashion industry one runway at a time.

Watch Video below

https://www.instagram.com/reel/C6OPjrVNN6C/?igsh=MW55ZWt4YXFkOXNyaQ==

People & Lifestyle

African Development Bank appoints Ambassador Jalel Trabelsi as Special Envoy for Middle East and North Africa and Gulf Region

Published

7 hours ago

April 26, 2024

Ameyaw Debrah

The President of the African Development Bank Group Dr. Akinwumi Adesina has appointed career diplomat Ambassador Jalel Trabelsi as his Special Envoy for the Middle East and North Africa (MENA) and Gulf Region.

Ambassador Trabelsi brings to the role over 30 years of experience as a highly accomplished and distinguished diplomat.

As Special Envoy for MENA and the Gulf Region, Ambassador Trabelsi will help to foster diplomatic and strategic engagements within the MENA and Gulf Region, focusing on the Bank’s strategic priorities, strengthening partnerships and mobilizing public and private sector resources at scale to deliver transformational projects in Africa.

A Tunisian citizen, Ambassador Trabelsi’s diplomatic career is marked by significant roles and contributions. He served as Minister Plenipotentiary for African Affairs, and was the Ambassador of Tunisia to Nigeria, Ghana, Benin, Sierra Leone, and the Economic Community of West Africa (Ecowas). He also served as the Dean of the Council of Arab Ambassadors and in other roles as an Adviser to the Minister of Foreign Affairs, Head of the National Commission for Tunisia’s candidacy to the Presidency of the African Development Bank.

He is also a specialist in international law and taught Diplomatic International Law at university level.

Ambassador Trabelsi holds an Advanced Master in Maritime and Aviation Law from Belgium’s Université Libre de Bruxelles, where he undertook his undergraduate degree in political science and international relations and passed with the highest honors. He also holds a Master’s degree in political science from the University of Tunis. He is multilingual with fluency in English, French, and Arabic.

Commenting on his appointment, Ambassador Trabelsi said: “I am extremely honoured to be appointed by Dr. Adesina to this role. As an African, I am motivated to continue to serve our continent and to contribute to the African Development Bank’s transformational work under the visionary leadership of Dr. Adesina. I will work to ensure the Bank maintains and further strengthens its excellent and fruitful cooperation and partnership with Middle East and North Africa (MENA) and Gulf Region.”

Dr. Adesina said: “I am delighted to have Ambassador Trabelsi as my Special Envoy for a region that holds a lot of promise for the Bank’s and Africa’s economic transformation. He has a strong track record and expertise in international relations and cooperation as well as international negotiation. He brings extensive knowledge in African, Arab, and European affairs and a deep understanding of the activities of the Bank, as well as other regional and international financial banking institutions.”

People & Lifestyle

KFC Ghana Introduces the “Streetwise Wings Meal” for ONLY GH¢30, KFC will also Embark on Donating 500 Streetwise Wing Meals Every Month to Basic Schools!

Published

10 hours ago

April 26, 2024

Ameyaw Debrah

KFC Ghana is excited to announce the latest addition to their Streetwise menu: the “Streetwise Wings Meal.” This new offering is a perfect blend of KFC’s signature crispy wings paired with a side of delightfully spicy rice, all for an affordable price of GH¢ 30.

The “Streetwise Wings Meal” is a flavorful adventure meant to satisfy your cravings without breaking the bank. The meal consists of three juicy and perfectly fried chicken wings, coated in KFC’s famous blend of herbs and spices. To complement the crispy wings, the meal includes a generous serving of spicy rice—a hearty side that packs a punch and ensures a fulfilling dining experience.

“KFC Ghana is always looking for ways to deliver value and satisfaction to our customers,” said the Digital and E-commerce Manager of KFC Ghana. “We believe that the Streetwise Wings Meal does just that, providing a balanced and flavorful meal at a price point that is accessible for everyone. It’s a perfect choice for a quick lunch or a delicious dinner on the go.”

The Streetwise Wings Meal is now available for order through the KFC Ghana App, with options for delivery, in-store pickup, or dine-in. The App is designed to provide the utmost convenience for customers, allowing for seamless ordering and payment. You can download the app from the Apple App Store or Google Play Store and get your meal with just a few taps on your smartphone.

KFC assures that all meals are prepared following the highest standards of quality and hygiene, ensuring that customers not only get a delicious meal but also a safe one.

So, whether you’re in the mood for a quick snack or a full meal, the new Streetwise Wings Meal is here to make your day a little more flavorful. Head to the nearest KFC or get the app now to enjoy this spicy new treat!

In addition to offering the delectable “Streetwise Wings Meal,” KFC Ghana is expanding its community support by announcing a generous donation campaign and will be donating 500 Streetwise Wing Meals at selected basic schools every month across the country. This initiative invites customers or social media users to nominate a school for a chance to enjoy this amazing offer, illustrating KFC Ghana’s commitment to giving back to the community. With the addition of this charitable action, KFC Ghana reinforces its reputation as a brand that not only provides value through its meals but also invests in the welfare of its community and its employees. Updates will be communicated via KFC Ghana’s social media platforms. Don’t forget to follow the social media pages and nominate a school!

Facebook: KFC Ghana

Instagram: @KFCGhana

X: @KFC_Ghana

TikTok: @KFC_Ghana