The Chief Executive Officer of MenzGold, Nana Appiah Mensah has described the Bank of Ghana (BOG) as very dishonest, irresponsible and very reckless.
His charge was in response to two recent statements issued by the BoG, warning the public against doing business with MenzGold.
The BOG noted that even though the Minerals Commission had licensed MenzGold to buy and sell gold, the company has veered off into taking deposits, which is in violation of Act 179, 1963; Act 930, 2016 and Act 929, 2016.
BOG is therefore warning the public to quit depositing money with MenzGold because if the deal goes bad, BOG would not protect victims.
But the MenzGold Boss took to his twitter page and said BOG is acting with the highest form of impudence with impunity, adding that BOG is well informed that, MenzGold is operating within the legal framework as it is now.
Nana Appiah Mensah directed BOG to the Ghana’s Commodities Trading Act and “stop this hypocrisy.”
Meanwhile, a Chartered Banker, Dominic Baah-Ayin said the activities of MenzGold is not clear; whether they are into deposit-taking or commodity trading.
He however state that per his understanding of their activities, he believes they do deposit-taking, explaining that once MenzGold take money for gold but still keeps the gold and investments on behalf of the customer for interest, that is deposit-taking.
Dominic Baah-Ayin therefore called on BOG to apply the law.
Source: Jeff Kojo Addo/Adom News
MenzGold Boss describe BoG as dishonest, irresponsible, reckless
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