The CEO of Menzgold, Nana Appiah Mensah, has assured Ghanaians, particularly, customers of the gold dealership, that the firm will not fold up despite the warning from the Deputy Minister of Finance.
Mensah explained that his firm has been incorrectly identified as a financial institution by the authorities. He continued that they are rightly a gold trading company.
Zylofonmediaonline.com, a news portal belonging to the embattled CEO, reports that the Minister's comment looks to have spurred the CEO of Menzgold who insists they are operating a legitimate business.
The Deputy Minister, Charles Adu Boahen, spoke on Thursday during the JoyBusiness Financial Service Forum and indicated that Menzgold will not be operation in Ghana again.
Zylofonmediaonline.com described the Minister's claims as "bizarre" designed to sow "fear and panic".
The Minister was quoted as saying: “With the Menzgold issue, I think it is clear that the end is here."
But in response, Nana Appiah Mensah, rejected that Menzgold was done, as he tweeted: Menzgold is NOT a financial institution. Menzgold is a vibrant promising African brand that is here to stay. Menzgold is law abiding."
Currently, there is a legal battle between Menzgold, the Bank of Ghana and the Securities and Exchange Commission (SEC) at an Accra High Court.
YEN.com.gh reported earlier, the issue of a woman who refused to leave a Menzgold office after not receiving any extra value payment or dividend on her investment.
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