Bank of Ghana Has No Jurisdiction Over My Business; Their Allegations Are Baseless — Nana Appiah Mensah

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bank of ghana has no jurisdiction over my business; their allegations are baseless — nana appiah mensah - CEO of Menzgold Nana Appiah Mensah - Bank of Ghana Has No Jurisdiction Over My Business; Their Allegations Are Baseless — Nana Appiah Mensah

Nana Appiah Mensah, NAM1, the Chief Executive Officer (CEO) of Menzgold Ghana Company Limited has called it a bluff, following the directives of the Bank of Ghana (BoG) that his company stop taking deposits or face sanctions.

Nana Appiah Mensah mocked and denigrated the BoG in a tweet saying:

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 to use our dear Menzgold to cover up. I beg make we think!

However, a fan by name Derek Laryea responded to NAM1 saying: you’re a service provider and I have watched over 5 times ur response to your Regulator which denigrates them. Respect the channels for high level discourse with ur Regulator. It is all play and jokes until the BoG bares their teeth.

But, Nana Appiah Mensah fired back with a response saying: BoG is not my regulator. Get your facts right. I do not operate under Act 930. Therefore BoG does not have jurisdiction over my business plus the baseless allegations. We had a year long meetings with the central bank and resolved, that should have been the end of the matter.

Meanwhile, the central bank has cautioned the general public that anyone who transacts “any of the above-mentioned businesses with Menzgold Ghana Company Limited does so at his or her own risk”, adding that the Bank of Ghana will not be liable in the event of loss of investments of deposits.

This comes shortly after the BoG collapsed five struggling local banks – uniBank, Sovereign Bank, Construction Bank, The Royal Bank and Beige Bank – into the Consolidated Bank Ghana Limited.


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