You are not my regulator – Nana Appiah Mensah slams BoG’s move to close Menzgold

You are not my regulator – Nana Appiah Mensah slams BoG’s move to close Menzgold

- The Bank of Ghana has reportedly indicated that it would pursue Nana Appiah Mensah’s Menzgold Company soon

- The company is allegedly flouting the BoG's banking orders

- But the Zylofon Boss, Nana Appiah Mensah, has said that he doesn’t operate under the BoG has sighted posts by the Zylofon Boss, Nana Appiah Mensah, in which he issues a stern warning to the Bank of Ghana.

In one of the posts he made earlier, the Zylofon Boss termed a move by the Bank of Ghana to close down his Menzgold Company ‘joke of the day’.

He further called the move a progaganda, directing the BoG to be truthful with Ghanaians and never to use Menzgold as a cover-up for wrongdoing.

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Nana Appiah Mensah tweeted: “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!"

Nana Appiah Mensah then followed up with another tweet in reply to some of his followers who raised issues with his response to the BoG and calling them jokers.

One Laryea Derek called the Zylofon Boss to order asking him to respect the BoG’s orders.

“@mn_appiah you’re a service provider and I have watched over 5 times ur response to your Regulator which denigrates them. Respect the channels for high level discourse with ur Regulator. It is all play and jokes until the BoG bares their teeth. @senam_d @mytheoz @patrickkwabena.”

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But in seeming anger, Nana Appiah asked Laryea to get his facts right and that BoG is not his regulator.

He went on to say the BoG does not have a jurisdiction over his business adding that all the allegations levelled against Menzgold are baseless.

Nana Appiah Mensah wrote: “BoG is not my regulator. Get your facts right. I do not operate under Act 930. Therefore BoG does not have jurisdiction over my business plus the baseless allegations. We had a year long meetings with the central bank and resolved, that should have been the end of the matter.”

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Menzgold is one of Nana Appiah Mensah’s fleet of businesses.

It is said to be a risk-free investment company which trades in gold.

Since the collapse of five banks including Beige Bank, Construction Bank, Sovereignty Bank, UniBank, and the Royal Bank, Nana Appiah Mensah’s Menzgold seems to be the target of the BoG.

The banks have been merged to form the new Consolidated Bank, following their failure to meet certain requirements by the BoG.

However, Nana Appiah’s response shows that he knows his right and also refuses to be ‘bullied’ by the BoG.

His response also sought to assure his many clients and investors that their investment is safe with Menzgold. will follow this new development and inform readers as new updates unfold.

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Source: Yen

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