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Nana Appiah Mensah Menzgold boss calls BoG’s bluff

His comment is a response to a statement issued in some newspapers by the BoG on Monday, August 6, 2018, cautioning the general public against depositing money at Menzgold.

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The Chief Executive Officer (CEO) of Menzgold Ghana Company Limited has called on the Bank of Ghana (BoG) to tell Ghanaians the actual reason why 5 banks collapsed at the same time.

This was a response to a statement issued in some newspapers by the BoG on Monday, August 6, 2018, cautioning the general public against depositing money at Menzgold.

In a tweet, Nana Appiah Mensah accused BoG of being propagandist.

“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!”


The Bank of Ghana has reiterated its caution to the general public to desist from saving or investing money at Menzgold Ghana Company Limited.

In a notice issued and signed by the secretary of the Central bank Mrs Caroline Otoo, it stated that despite the several cautions to Menzgold Ghana “to desist from solicitation, receipt of money and the payment of dividends to its clients, the company persists in its deposit-taking activity.”

The notice said that Menzgold is not licensed to receive money and pay dividends to clients.


Meanwhile, the BoG said that it will not be held responsible if there is any loss of investment.

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.”|

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