Investment expert Michael Nii Yaboi Annan has stated the Bank of Ghana’s monitoring department has become a total failure to investors.

According to Mr Annan, it is high time the country takes a bold decision concerning the financial sector in order to win back the confidence of investors.

Speaking to Adom News, Mr. Annan stated it is important for the monitoring unit of Bank of Ghana to operate independently.

“The monitoring unit must be established as a state agency which would do sole supervision in the financial sector.”

Mr. Annan also cautioned the customers of Menzgold to stop shifting blames over locked up monies at the gold dealership firm.

In a related development, an economist Ebenezer Ashley has also urged Ghanaians to take cues from the Menzgold saga and be very careful and look for registered companies and not let high interest rates attract them.

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