Board of Directors of the collapsed Capital Bank chaired by a prominent ‘man of God’, Dr Mensa Otabil managed to squander Ghc610 million taxpayers money granted to them by the Bank of Ghana and till now, absolutely nothing has been done to retrieve and punish those involved.
The Ghc610 million scandal has become one of those ‘foolish cases’ ─I mean it has gone down the drain obviously because those involved are ‘big’ untouchable men.
Board of Directors of the collapsed Capital Bank chaired by a prominent ‘man of God’, Dr Mensa Otabil managed to squander Ghc610 million taxpayers money granted to them by the Bank of Ghana and till now, absolutely nothing has been done to retrieve and punish those involved.
The Ghc610 million scandal has become one of those ‘foolish cases’ ─I mean it has gone down the drain obviously because those involved are ‘big’ untouchable men.
The CEO of Menzgold Ghana, Nana Appiah Mensah, has responded to the ongoing brouhaha surrounding his company and he’s in a confident mood.
Nana Appiah Mensah does not seem too bothered with the shenanigans being played around his company and says he’s ready to fight to the bitter end.
The gold trading firm Menzgold has responded defiantly with a statement threatening legal action after a letter from the Securities and Exchange Commission (SEC) concerning the company and its dealings was leaked to the public.
The letter, addressed to Menzgold Ghana, stated that the firm had no licence to operate under the SEC’s regulations and thus should be shut down.
The gold trading firm Menzgold has responded defiantly with a statement threatening legal action after a letter from the Securities and Exchange Commission (SEC) concerning the company and its dealings was leaked to the public.
The letter, addressed to Menzgold Ghana, stated that the firm had no licence to operate under the SEC’s regulations and thus should be shut down.
The needless decision to construct a National Cathedral with a huge donation of prime Accra real estate has just gotten more expensive for the people of Ghana even though everyone keeps assuring us that it’s not government that is paying for the cathedral.
According to documents sighted by myjoyonline, the piece of land being cleared by government to host the building has on it a private IT firm who stands to make mega losses if moved at such short notice and are thus calling on government to pay millions of dollars before they surrender their land.
The needless decision to construct a National Cathedral with a huge donation of prime Accra real estate has just gotten more expensive for the people of Ghana even though everyone keeps assuring us that it’s not government that is paying for the cathedral.
According to documents sighted by myjoyonline, the piece of land being cleared by government to host the building has on it a private IT firm who stands to make mega losses if moved at such short notice and are thus calling on government to pay millions of dollars before they surrender their land.
The head of the think tank IMANI Ghana, Franklin Cudjoe, has waded into the issue of the Bank of Ghana’s increasingly fraught decision to revoke the licence of uniBank, which among all the other banks seems to have been dealt with the most unfair of hands.
According to Franklin Cudjoe, examining the facts on the ground makes it clear that the Bank of Ghana are not acting in the best interest of the financial sector as they claim but for their own parochial interests which might be politically motivated.
Former governor of the Bank of Ghana and majority shareholder of uniBank, Dr Kwabena Duffour, has sued the Bank of Ghana over the recent collapse of uniBank.
In a suit filed at the High Court at Accra, Dr Duffour calls for the Central Bank to invalidate the licence of the Consolidated Bank, which was formed by the BOG to take over the five collapsed banks, including uniBank.
The shareholders of uniBank Ghana Limited have issued a statement condemning the leak of the KPMG report upon which the Bank of Ghana took the decision to collapse their bank when they themselves have not been served with a copy despite repeated requests.
The shareholders convey their anger and disappointment at not being given the chance to defend themselves by receiving a copy of the report but are now being tried in the court of public opinion due to the leak.
The closure of the indigenously owned uniBank continues to raise eyebrows as it becomes increasingly clear that best practices were not followed and that the decision might have had other motivations aside simply saving the financial health of the Ghanaian economy.
As already made clear in an impressive article by Mark Kofi Poku, the Bank of Ghana violated several laws of natural justice in their closure of uniBank, ranging from not taking their side of the story into consideration, refusing to pay the substantial debts the government owed the bank which would on their own have made the bank financially healthy and even failing to take into consideration the fact that the bank procured a loan from an international source which would have saved it as well.
The customers of Menzgold Ghana have been called to calm down by the Menzgold Management concerning the on-going rift between the company and Bank of Ghana (BoG).
In a press statement which was released yesterday, August 14, 2018, by Menzgold Management, the company assured its cherished customers about their commitment to serve and protect their interest and as a law-abiding company.
CEO of Menzgold Ghana Ltd and Zylofon Media Group of Companies, Nana Appiah Mensah, has backtracked on his ‘fiery’ response to the Bank of Ghana’s recent statement warning the public not to take deposits from the gold trading company.
In a new post on social media, Nana Appiah Mensah reveals the company is working with the Central Bank and relevant state agencies to amicably solve all issues.
A few days ago Akoo Nana shared a video on his Instagram page concerning BoG and Menzgold brouhaha and called on the president to stop the Central Bank of Ghana from defaming Menzgold else NPP will lose 2020 elections.
However, Ghanaian Music producer Mark Okraku Mantey has reacted to this statement made by the hip-life rapper, Akoo Nana.
The host of TV Africa’s “Konkonsa Police” show, Afia Schwarzenegger has added her voice to the social media campaign, #IStandWithOtabil concerning the involvement of Dr Mensa Otabil in the squandering of the Ghc610m taxpayers’ money granted by the Bank of Ghana to Capital Bank.
Afia even though decided to stay off the issue but the #IStandWithOtabil social media campaign by some Ghanaians have pissed her off hence breaking her silence on the issue.
