Payboy Company Limited had actually accepted a handle the struggling gold dealer firm to facilitate the payment of its customers’ locked-up funds.
In a declaration dated 29 May 2020, the management of Payboy stated: “We have actually shown to Menzgold Ghana Company Limited our decision to opt-out of the ‘Payment Facilitation Contract’ we signed on the 7th February 2020. Among others, we indicated that we would NOT admit any Menzgold client at our premises on the basis of negotiating and assisting in equally acceptable payment mode or way for the indebted client.”
Menzgold selected Payboy as a third-party entity to work out the settlement with the countless clients of the stopped working gold dealership company.
The Economic and Organised Criminal Offense Workplace (EOCO), on Friday, detained some officials of Payboy Business Limited.
EOCO indicated that the company was operating without the requisite licenses from either the Bank of Ghana or the Securities and Exchange Commission.
ALSO READ: Menzgold appoints Payboy to negotiate payments with aggrieved customers
In a statement, Menzgold said: “Following an advice given and subsequently reiterated in a press release issued on the 18th of December 2019 with reference number KBA 3015/19 by our counsel, we’re happy to introduce PAYBOY COMPANY LIMITED, a digital payments marketing and promotions company, headquartered at No. 34 Nii Ako Nortei Street, Blohum Road, Dzorwulu, Accra, as the appointed third party entity with the capacity to negotiate ‘Debt Settlement Agreements’ and to facilitate payments of same, in our committed resolve to ensure the eventual full debts settlements by Menzgold within the shortest possible time”.
“Counting on your kind cooperation as we strive to achieve this noble debt settlement objective,” the statement added.
