An August 6 public notice issued by the Bank of Ghana cautioning the public against doing business with Menzgold Company Limited has angered the commodity trading company who describe the action by the central bank as unfair.
In a statement issued a day after the public notice published by BoG, Menzgold maintained that they are a law-abiding company “working within the remits of our license.”
BoG, according to the notice, indicated that it is working with other agencies to take appropriate action against the gold buying firm.
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But the Chief Executive Officer of Menzgold, Nana Appiah Mensah, in a response to BoG on Twitter wrote “ 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 1 to use our dear Menzgold to cover up… I beg make we think!”
The company followed up with the ststement describing the notice by BoG as “unfortunate and insensitive.”
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Below is the statement:
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BOG’S THREATS WILL ALTIMATELY RESULT IN BIGGER BUSINESS FOR MENZGOLD. THIS GOLD BUSINESS HAS THE ALMIGHTY GOD’S APPROVAL TO LIFT GHANAIANS FROM POVERTY.
HOWEVER, CONSIDER RAISING THE 7% RATE TO ALSO 10% FOR US.
IT’S HIGH TIME THE RETURNS WERE PAID ELECTRONICALLY. SERIOUSLY CONSIDER THIS PLEASE. LONG LIVE NAM ONE, LONG LIVE MENZ GOLD, LONG LIVE GHANA.