Menzgold challenges BoG on deposit-taking claims

Menzgold challenges BoG on deposit-taking claims

- Menzgold owner is challenging the Bank of Ghana over claims that it is taking deposits from the public without approval

- According to Nana Appiah Mensah, his company is not taking deposits

The Chief Executive Officer of Menzgold, Nana Appiah Mensah, has hit out at the Bank of Ghana following claims that the gold buying firm has been accepting deposits without approval.

According to him, the BoG has been "very dishonest, irresponsible and very reckless" in their dealing of the issue.

Menzgold challenges BoG on deposit-taking claims

Menzgold challenges BoG on deposit-taking claims

READ ALSO: The possible jail term for Kwesi Nyantakyi if found guilty

His outburst come after the Central bank threatened to take action against Menzgold following allegations that the company been taking deposits without approval.

This was made known by BoG Governor, Dr Ernest Addison, who was speaking at the MPC press conference Monday.

According to the BoG Governor, Menzgold are not licensed to take deposits, but have been acting contrary.

What is clear to us is that they have the system that accepts deposits from the public. We are discussing with the Ministry who originally gave them their license," Dr. Addison said.

Menzgold challenges BoG on deposit-taking claims

Screen shot from Nana Appiah Mensah's post.

Join YEN on Instagram to be always informed and entertained!

However, in a strong-worded response, Nana Appiah Mensah dared the BoG to back its allegations with proof.

In a series of tweets, the Menzgold CEO called out the Central Bank, insisting the laws of the country must be allowed to function.

"So what happened to the presumption of innocence under article 19(1)c? Menzgold does not take deposits. we are law abiding. Respectfully, he who alleges must immediately discharge the burden of proof. Unsubstantiated utterances are needless. "The law is what the judge says it is," he wrote.

Ghana Trends: Will Anas Set Ghana's Football on Fire?

Subscribe to watch new videos

READ ALSO: BoG to penalise Menzgold for taking deposits

Do you have a hot story or scandal you would like us to publish on Please contact us on Facebook or Instagram now.


Related news
Fees and registration guide for Ghana stock exchange courses

2018 fees and registration tips for stock exchange courses in Ghana

Ghana stock exchange courses fees and course registration 2018
Mailfire view pixel