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I still believe in Nana Appiah-Mensah and Menzgold - Rootikal Swagger

August 12, 2018
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Ghana’s fastest rising versatile artiste Rootikal Swagger, has thrown his weight behind business mogul Nana Appiah Mensah and Menzgold in the ongoing brouhaha between Menzgold Ghana Limited and the Bank of Ghana (BoG).

The 3Tymz Vibration signee in a tweet believes Nana Appiah-mensah and his Menzgold are clean and his investment at Menzgold Ghana Limited won't go to waste.

Nanakesse.com sighted a tweet of video showing off his gold and money on his page captioned: “I still believe in @mn_appiah and @menzgold I know my investment will not go to waste”



Background

The Bank of Ghana recently cautioned the general public not to deposit any money with the Menzgold because it has not been licensed to do so.

In a public notice, it said the company has no authority to engage in “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).

It 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.

But Menzgold in a statement described the BoG’s announcement as “unfortunate and disparaging” and insisted it neither takes deposits from customers nor does any deposit-taking business in Ghana.

“Our activities are not within the scope of the Banks and Specialized Deposit-Taking Institutions, Act, 2016, Act 930. It, therefore, cannot be said that we are in breach of the Act,” the statement said.

Meanwhile lawyers of Menzgold have rubbished claims by the Precious Minerals Marketing Company (PMMC) that the company’s licence has been revoked.

Barely a day after BoG’s notice, PMMC indicated that Menzgold is not licensed to buy and sell gold as suggested by the company. Managing Director of PMMC, Kwadwo Opare Hammond had noted that even though the company was initially granted a license in 2014, it has long been revoked.

But the company’s lawyer, Kwame Akuffo in response said the claim amounts to “economic defamation” and “undermining” of its reputation. He stressed that contrary to the PMMC’s claim, the firm was duly licensed to carry out its gold-buying and selling business.


Source: Nanakesse.com
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