Chief Executive Officer (CEO) for Menzgold, Nana Appiah Mensah has slammed the Bank of Ghana for issuing a statement to describe its operations as ‘’illegal’’.
The CEO in a tweet challenged the central bank to inform Ghanaians what led to the collapsed of the five consolidated banks into the Consolidated Bank Limited.
The BoG has in a statement cautioned the public and advised them to desist from operating with the company.
The BVoG 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).
According to the BoG, 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 bank went to caution 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.”
But the CEO in his tweet said: ‘’ TODAY'S JOKE: Bank of Ghana, so now you dey do propaganda???? I beg paa "Tell Ghanaians exactly what happened with the 5 or so collapsed banks you duly LICENSED & SUPERVISED for years. Please don't attempt to use our dear Menzgold to cover up?. I beg make we think! pic.twitter.com/o4zADtIsP9
— Nana Appiah Mensah (@mn_appiah) August 7, 2018