The Bank of Ghana (BOG), yesterday August 7, 2018, issued a notice to warn the public of the activities of Menzgold which they deem inappropriate according to rules governing banking or financial rules of the Central Bank.
The Chief Executive Officer of Menzgold, Nana Appiah Mensah in a post termed the move by BoG to close down his company as a big joke.
A portion of BoG’s notice signed by the secretary of the Central bank, Mrs Caroline Otoo read;
“Despite the several cautions to Menzgold Ghana “to desist from solicitation, receipt of money and the payment of dividends to its clients, the company persists in its deposit-taking activity”.
Well, Tracy Sarkcess, wife of rapper Sarkodie has also added her voice to the Menzgold-BoG brouhaha — she has jumped into the defence of Menzgold by asking BoG to back off because the company is doing genuine business.
Tracy Sarkcess wrote:
“Menzgold doesn’t take deposit. They buy gold with the money you give them and work with that gold to give you a return on your investment. Which the last time i checked was around 10%. BOG should rather concentrate on the banks that are misappropriating people’s money rather than the ones actually making money for its people.”
But she later issued a disclaimer stating that she isn’t an ambassador of Menzgold:
tracysarkcess: “@naaobieley.ruby exactly! Menzgold doesn’t even touch the money you bring in. It’s only the gold you bring in.
The misconception comes from the fact that the offer is just too good to be true which automatically breeds suspicion. Anyway…disclaimer: please I’m not a Menzgold ambassador.”