Following the order by the Economic and Organised Crime Office (EOCO) to freeze assets of Nana Appiah Mensah, the Chief Executive Officer of gold dealership company, Menzgold, two of its media companies have put their operations on hold.
In a statement issued by the Communications Manager of Zylofon FM and Zylofon TV, Samuel Atuobi Baah, the two media networks will, from January, 30, 2019 suspend their operations.
“Owing to the order by the Economic and Organised Crime Office (EOCO) dated 29th January and signed by Jacqueline Avotri (Public Affairs), to have all assets of Nana Appiah Mensah frozen, the general public is hereby informed that Zylofon FM and TV will suspend operations effective 30th January, 2019,” the statement reads.
“Being a law abiding entity, we expect that due process be facilitated to restore sanity.”
Later in the day Ghanaian musician and broadcaster, Blakk Rasta, has announced that he would be vacating his post as a presenter at Zylofon FM until further notice.
He made the announcement on his twitter page stating that he was hosting his last ‘Taxi Driver’ show on Zylofon 102.1 FM.
“Last #TaxiDriverShow on @zylofon1021fm till sanity is restored. Thanks for helping me prove again that we’re the best in the game .. #AfricanHistoryClass To Jah be the glory…!” he posted.
EOCO’s order to freeze NAM1’s assets
EOCO in a release on Tuesday, January 29, 2019 said assets of Nana Appiah Mensah including Landed Properties and Vehicles of MenzGold Ghana Limited, MenzGold Office Complex, Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, Zylofon Music and Media Company Limited, Brew Energy Company Limited as well as G-Tech Automobile Service will be frozen by the court order.
The rest are two (2) properties located at Trassaco Valley (Plot No. 315 and Plot No. 337), Plot of land (No. 54) near Oak Street – Trassaco Valley, Uncompleted Residence and 510 acres of land.
It also advised family members of NAM1 as well as associates in possession of such properties to submit them to EOCO in their own interest.
“By this news release, all employees of the affected companies, relatives and friends who are in possession of any of such properties are to surrender same by the authority of the high court to the Economic and Organized Crime Head Office and Regional Offices in their own interest. Failure to do so will constitute contempt of court which will attract the appropriate sanctions,” the statement read in part.”
Menzgold was ordered to halt all operations last year by the Security and Exchanges Commission (SEC) following investigations that they did not have the licence to operate.
In their quest to retrieve their investments, some customers have asked that his assets are frozen.
Nana Appiah Mensah gained popularity in the showbiz industry upon the establishment of Zylofon Media which signed onto its labels top musicians and actors including Stonebwoy, Shatta Wale, Zynell Zuh, among others.