The CEO of MENZGOLD Ghana Company Limited, Nana Appiah Mensah has hit back at attempts by the Bank Of Ghana to close down the gold dealing company due to allegations they deal in illegal solicitation and acceptance of deposits.
In a lengthy post to his Instagram, he outlined the actual deals the company specializes in which is the trade in gold and other investments which do not contain investments or acceptance of deposits like the BOG Notice claims.
He wrote: “MENZGOLD SCHOOL:
-MENZGOLD DO NOT ACCEPT DEPOSITS. -WE BUY AND SELL GOLD. -THE GOLD VAULT MARKET( Gold trading/Investment) IS JUST 1 OF 3 MAIN BUSINESS AREAS OR PRODUCT LINES. IT IS A LOGICAL FALLACY AND INJURIOUS TO SUGGEST MENZGOLD CLOSURE, ON THE BASIS THAT 1 OUT OF THE 3 IS ALLEGEDLY OR PURPORTEDLY IN CONTENTION. -MENZGOLD DOES NOT KEEP/STORE THE GOLD PUT UP FOR TRADE. IT IS DULY SUBJECTED TO OUR QUALITY CONTROLS AND PUT UP ON THE “GOLD VAULT MARKET” FOR THE TRADING PURPOSES, PROCEEDS OF WHICH MAKES A COMFORTABLE ROOM FOR THE DISPATCH OF THE “RETURN ON THE GOLD TRADE/INVESTMENT”, A CLEAR DISCHARGE OF THE COMPANY’S CONTRACTUAL OBLIGATION, AS ENTERED INTO WITH THE CUSTOMER(The Gold Owner). -MENZGOLD IS A GOLD EXPORTER. -MENZGOLD IS THE BIGGEST, AS SUCH, THE LEADING GOLD EXPORTER IN GHANA TODAY. -MENZGOLD BY VIRTUE OF ITS OPERATIONS BRINGS INTO GHANA LEGALLY, FOREX($,€,£,¥) WHICH HAS THE CAPACITY TO HEDGE THE EVER ESCALATING GHANA CEDI TO THE US DOLLAR ESPECIALLY AND CAN ARREST THE CANKER OF INFLATION THAT PLAGUES WORLD ECONOMIES. -MENZGOLD WITH A WELL DESERVED STATE COOPERATION CAN GROW STRONGER TO BECOME THAT NON EXISTENT BODY, WHICH WOULD GRANTS BANKS & OTHER FINANCIAL BODIES BAIL OUT WHEN THEY ARE IN DISTRESS. THIS IS POSSIBLE WITH GHANA GOLD SPEARHEADED BY MENZGOLD TO ACHIEVE A PROSPEROUS GHANA BEYOND AID. MAYBE YOU SHOULD ASK ME HOW. -MENZGOLD EMPLOYS MANY AND IS A MAJOR CONTRIBUTOR OR DENOMINATOR IN GHANA’S ECONOMY TODAY.
– WE SUBMIT TO THE STATE, UNDER GHANAIAN LAW TODAY, IF THERE IS A STANDARD MENZGOLD NEEDS TO MEET TO HAVE A SANE AND SOUND OPERATIONS BEYOND THE MINERALS AND MINING ACT, 2006 (ACT703)-FOR OUR GOLD EXPORTS, THE SALE OF GOODS ACT, 1962 (Act137)-FOR OUR COMMERCE & THE CONTRACT ACT, 1960 (Act25)- FOR THE SPECIALTY CONTRACT SIGNED FOR ALL TRANSACTIONS, WE SHALL GLADLY ADHERE. -MENZGOLD SEEKS STATE COLLABORATION AND NOT CRUCIFIXION. -DOING BUSINESS WITH MENZGOLD IS INDEED A SAFE HAVEN & A GOLDEN MOMENT.
TO THE LEGAL PRACTITIONERS I HUMBLY ASK; CAN A LAW BE BROKEN WHERE THERE IS NONE???
The Bank Of Ghana issued a notice to MENZGOLD and its clients on Monday 6 August 2018 warning them about the illegality of their trades and threatened the company with closure and court injunctions.
