The now-defunct Menzgold Company Limited has said it will, on 18 December 2019, make an “official public pronouncement” on payment schedules and the formula for doing so.

The announcement was made by Menzgold’s Communication unit on Sunday, 8 December 2019.

This follows a recent validation exercise done by the company.

It started from Monday, 28 October 2019.

The one-month-long validation process involved the authentication of clients’ documents.

The embattled company, owned by Nana Appiah Mensah (NAM1) has not been able to pay its thousands of clients’ extra values and principals since August 2018 after the Securities and Exchange Commission shut it down over regulatory infractions.