Bank Of Ghana issues warning to MENZGOLD Ghana Limited

Notice by BOG to MENZGOLD

The Supreme Bank in Ghana, The Bank Of Ghana (BOG) has issued a stern notice to MENZGOLD Ghana Limited and it’s clients accordingly that the company has not been licensed to operate in the soliciting and receipt of cash from clients.

The notice was posted today warning that drastic measures were being put in place to be taken against the MENZGOLD company after several cautions fell on deaf ears.


The notice from the BOG read as follows: “The Bank Of Ghana wishes to notify the general public that in spite of  several cautions to the MENZGOLD Ghana Company Limited to desist from the solicitation, receipt of money and the payment of dividends to its clients, the company persists in its deposit-taking activity, in breach of section 6(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016(Act 930). The Bank Of Ghana wishes to reiterate that MENZGOLD Ghana Limited is NOT LICENSED and has no authority to engage in the solicitation, receipt of money or investments and the payment of dividends or returns to its clients. The Bank Of Ghana is in discussions with other relevant regulatory authorities towards the taking of appropriate actions against the company. Accordingly, anyone who transacts any of the above-mentioned businesses with MENZGOLD Ghana Company Limited does so at his or her own risk and the Bank Of Ghana WILL NOT  be liable in the event of loss of investments or deposits.     




DATE: 6th August, 2018.

The CEO of MENZGOLD also replied with a post on Instagram daring the BOG to reveal the real reasons for the recent closure of the 5 banks after they had been given official licenses and supervision.

We will keep you updated as the news develops.



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