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Lawyer for Nana Appiah Mensah warns Bank of Ghana over Menzgold

Counsel for Nana Appiah Mensah popularly has finally reacted to the misunderstanding between his client and the Central Bank.

According to Kwame Akuffo, lawyer for Nana Appiah Mensah, “The Bank of Ghana does not have jurisdiction over the affairs of Menzgold”.

Kwame Akuffo, Lawyer for the Menzgold boss, warned Bank of Ghana over it’s series of warning that Menzgold was conducting business contrary to some provisions in the Banks and Specialized Deposit-taking institutions Act, 2016 (Act 930).

Lawyer Kwame Akuffo expressed his displeasure on his Facebook page saying “ I have come to you at mid day. The Bank of Ghana does not have jurisdiction over the affairs of Menzgold.

“It’s Notice, is clearly indented to cause a run on the affairs of Menzgold. The Bank is engaged in tedious conduct” he posted.

However, both last year and this year, the Bank of Ghana warned the public not to deal with Menzgold.

The Central Bank cited that under the country’s banking laws, Menzgold was conducting business contrary to some provisions in the Banks and Specialized Deposit-taking institutions Act, 2016 (Act 930).

Yesterday, 7th August, 2018, Bank of Ghana released a statement indicating that, it is in discussions with relevant regulatory authorities to sanction Menzgold Company Limited for engaging in “solicitation, receipt of money or investment and the payment of dividends or returns to its clients” without a license to do so.

The statement by the central Bank also indicate that Menzgold has breached section 6 (1) of Banks and Specialize Deposit –Taking Institutions Act 2016 (Act 930).

Report also indicate that, the Menzgold boss Nana Appiah Mensah has been invited for questioning by the Economic and Organised Crime Office (EOCO).

According to the report, Nana Appiah Menseh has not honored their invitation.

Nonetheless, when Kwame Akuffo was called by Happy FM’s Eugene Baah to give further clarifications over Bank of Ghana’s threat to deal with Menzgold, since he is his personal Lawyer, the experienced legal practitioner said, ” Nana Appaih Mensah hasn’t given me the right to talk”

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