The Bank of Ghana will soon take punitive measures against the trading company, Menzgold Ghana Company Limited.
According to the Bank of Ghana (BoG) Menzgold, which is known as a precious minerals trading company, is carrying out unlawful transactions by taking deposits.
In a public notice issued by the BoG, it said the company has no authority to engage in what it says are the “solicitation, receipt of money or investment and the payment of dividends or returns to its clients.”The central bank maintained that Menzgold is in breach of section 6(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
BoG further said in spite of several warnings to the company, Menzgold continues to engage in the illegality; hinting that discussions were already underway with regulatory authorities to enforce the appropriate action on the company.
The central bank, however, cautioned the general public against transacting business with Menzgold.
“Accordingly, 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 or deposits.”
Source: citinewsroom.com
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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!
peace fm stop repeating an old story! Menzgold Ghana has not been taking deposit from me since i started trading with them.If they ask you to write a story for them pls tell them or copy what i wrote to them, i bought a gold send it to them and then they invested it for me and i take dividends on what i invested there is nothing like deposit i made to them before.i have been with them since and bank of Ghana should desist from what they are doing or Ernest adision will face the bullet soon. he has collapse most banks and now to Menzgold where Ghanaian are investing to make life.Ernest adision should take note people will come after him and they are preparing for him soon. he should try.