NAM1 is back on Twitter after a long hibernation

NAM1 is back on Twitter after a long hibernation

The Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, has commented for the first time in a long while following a tumultuous period involving his company.

The gold dealership firm has been in the news in recent months following disagreements with the Bank of Ghana (BoG) regarding its operations.

The latest development is the order from the Securities and Exchange Commission (SEC) to have the company shut down its gold trading activities.

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Customers of Menzgold have also been agitating, as their investments continue to be locked up with the gold dealership firm.

The last time Nana Appiah Mensah commented on the matter was in October, when he urged customers to remain calm and assured that “we will pay you”.

The Menzgold CEO has since been quiet on social media, but he has now posted another message which is bound to spark controversy.

In a Twitter post on Thursday, NAM1 said Menzgold is not a financial institution as people claim, adding that the company is here to stay.

He wrote: ''Menzgold is NOT a financial institution. Menzgold is a vibrant promising African brand, that is here to stay. Menzgold is law abiding. Great is thy faithfulness, O! God. Hail! Menzgold #Floreat! Menzgold.”

Meanwhile, Menzgold has taken legal action against the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) following weeks of inconclusive discussions.

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Deputy Minister of Finance has hinted that the Gold dealership company, Menzgold will not be in business again in Ghana.

According to the Deputy Minister, after several cautions from the Bank of Ghana and the Security and Exchange Commission, Menzgold has not been able to produce any legitimate license to the regulators thereby making their activities in the financial sector illegal.

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