The Bank of Ghana (BoG) has issued a public notice that it is in discussions with relevant regulatory authorities to sanction Menzgold Company Limited for engaging in “solicitation, receipt of money or investment and the payment of dividends or returns to its clients” without a licence to do so.
The BoG, in a public notice signed by Mrs Caroline Otoo, Secretary to Governor Dr Ernest Addison, said in spite of several of cautions to Menzgold Ghana Company Limited to desist from the act, it persists in its deposit-taking activity in breach of section 6(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
The Central Bank has cautioned thE general public that anyone who transacts “any of the above-mentioned businesses with Menzgold Ghana Company Limited does so at his or her own risk,” and the Bank of Ghana will not be liable in the event of loss of investments of deposits.
Nana Appiah Mensah, owner of the gold-buying firm, has denied on a number of occasions that his company takes deposits.
Source: classfmonline.com
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So is it because you don't know or you don't want to know or it's sheer phooolishneesss or all of the above? We are governed in this country by laws...we don't live in the ***barred word*** kingdom where the strongest animals survive. Why are some Ghanaians so addicted to illegalities at all fronts of our national life? Illegal mining they say to stop it.....illegal Menzgold they say don't touch it. Banks are operation in contravention to our banking laws they we say the governor should be quite and watch things collapse in our faces only for some of you to turn around to blame someone for not performing his duties as dictates by the law. It's sad to live in such a society of lawlessness.
I wished I had a missile to pull down all edifices of BOG. what sort of ***barred word*** is that? You intentionally pulled down all successful businesses including DKM and you stole investors money. Ghanaians should be wise enough to resist BOG's attempt to shut down Menzgold. These BoG officials are nothing but ***barred word*** ***barred word*** the take delight in destroying successful businesses. I curse them with sudden deaths and chronic diseases that have no cure and all their acquired wealth shall also go waste if they destroy Menzgold.
BOG kraaa which one be your own
Kofi K.K, please go for some financial literacy courses. It will help you to understand these issues well and more importantly, make sound arguments.
I can bet that if Menzgold collapse under this Government, it will never again come to power. What benefit do we have from these things call banks. Are they not crooks who are just exploiting the poor for their own benefit? We all know that the governor want to sabotage the President and so Nana shine your sees.
menzgold is helping and adding up to the economy of ghana. Nana addo pls sit up and dont allow this to happen because menzgold is helping the economy of ghana. if you want to win another term.BOG you should leave the company alone because is puting money in people pocket, feed family, and creats job. 2020 is arround the corner
We will k1ll you all. try anything funny here
look at them, they can't understand simple regulation of an industry. what has BOG governor done except to ask your idol to register and operate as a bank. that is his sin abi. is it illiteracy or ***barred word***. do you want to remain in lawless society?
This Governor should learn from Agyarku who was so powerful and least expected to go out of job soon. One day the other banks directors will speak and the law of MISLEADING will apply to him and he'll know his smoothness level. If he collapse Menzgold the blood and cry of the affected should will follow him and his generation. He champion BOG H come out with attractive investment products than the ***barred word*** TBills. Until then he should give the company a break
Please, Mr. Governor of Bank of Ghana, we are fed up with your threats and intimidations and your anti-successful business stance on the young successful businessman of MenzGold who has now set up branches in Spain and London. You and your BoG officials are wallowing in fat salaries and excessive material comfort emanating from your incredible conditions of service. And now, you have no regard for the poor and have also forgotten about the vulnerable in society including pensioners who have invested their meagre savings in MenzGold. Why are you always threatening and intimidating we the poor customers? Please, if you want to collapse MenzGold too, go ahead and do it so that Ghanaians will know that you and your government are anti-poor and anti-successful business. But mind you, 2020 is just around the corner. Thank you!