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Menzgold CEO invited by EOCO
A source at EOCO revealed that Nana Appiah Mensah has failed to honour several invitations by the investigative body,
This comes after the Bank of Ghana (BoG) issued a public notice cautioning the general public against depositing money at Menzgold.
The BoG also added that it is in discussions with relevant regulatory authorities to sanction Menzgold Company Limited for engaging in “solicitation, receipt of money or investment and the payment of dividends or returns to its clients” without the required license.
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According to Accra-based Starr FM, EOCO has taken the issue up to investigate the activities of Menzgold.
A source disclosed that Nana Appiah Mensah has failed to show up after he was invited on several occasions.
“We’re looking for him. We’re not getting him on phone, but we’ll pursue it,” the reliable source noted.
After the recent public notice by the BoG, EOCO has intensified its efforts to track down the philanthropist to “hold discussions about his business dealings.”
Central Bank’s Warning
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Menzgold is currently operating with a license granted it by the Minerals Commission and the Ministry of Lands and Natural Resources.
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).
Meanwhile, the BoG said that it will not be held responsible if there is any loss of investment.
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“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.”
Menzgold’s response
The management of Menzgold Ghana also urged the public to disregard the notice from the Central Bank.
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“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,” a statement from Menzgold said.
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