Seasoned journalist, Kwesi Pratt Jnr., has descended heavily on Menzgold and its Chief Executive Officer, Nana Appiah Mensah, over the brouhaha involving the gold firm, the Securities and Exchange Commission (SEC) and Bank of Ghana.
Menzgold Ghana, a company trading in gold collectibles, has been directed to shut down by the Securities and Exchange Commission (SEC) for not having a permit to operate.
The SEC wrote to the company, demanding that all trading in gold without licence be ceased.
It asked the company not to take new contracts (investments) and also halt broadcast and publishing of all its adverts.
This comes after the Bank of Ghana warned customers and the general public from transacting business with Menzgold stating emphatically that it's unlicensed and any individual who deals with it do so at his or her own risk.
Some sympathizers of the company have begun a social media appeal with #IstandwithMenzgold and #JusticeforMenzgold with others demonstrating against the State regulators, claiming they're on a "witch hunt" agenda.
But Kwesi Pratt has asked the Bank of Ghana, SEC and all the appropriate State regulators in the financial sector not to spare Menzgold if indeed they're not operating within the remits of the laws of Ghana.
He asked management of Menzgold to comply with the directives of the SEC and acquire the right documents and licence to operate as a gold company.
Kwesi Pratt also called on Ghanaians to reason out why Menzgold hasn't proceeded to court to present their case if the company believes they're acting lawfully and that the SEC is oppressing them.
“If what the Securities and Exchange Commission is doing is unlawful, why doesn’t Menzgold go to court? Go to court and present your case…They should go to court and stop the Bank of Ghana, and stop the Securities and Exchange Commission”.
He told host Kwami Sefa Kayi on Peace FM's Kokrokoo that Menzgold as any company or individual is not above the laws of country.
“Why should we spare someone saying if his company flouts the law and we’re sanctioning it, it will disturb some people? Whose company you touch won’t worry other people…The Securities and Exchange Commission and Bank of Ghana are protecting us, why then do we fight them?” he questioned.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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APART FROM KWESI'SBTHOUGHTS, I HAVE A STRONG FEELING THEY ARE ENGAGED IN MONEY LAUNDERING AND RACKETEERING. THESE GOVT OFFICIALS WHO STEAL SHOULD HAVE A HAVEN IN THIS COMPANY. HARD EARNED MONEY IS NOT LARVISHED THE WAY THE CEO GOES ABOUT HIS MONEY SPREADING. BOG AND SEC SHOULD KNOW WHO AND WHO HAVE DEPOSITS THERE AND HOW MUCH. THENBASK SUCH INDIVIDUALS TO SHOW CAUSE WHY THEIR MONEY SHOULD NOT BE CONSFICATED.
Menzgold... Which institution do you report your investments to? SEC, BOG or minerals commission. If you don't report your investment to any of this bodies then this part of ur business is not regulated which is a risk to the soundness of our financial system. If you report to the wrong authorities too it means you have over use ur jurisdiction. Just set up a subsidiary investment firm and apply for license from and and continue your operations. And stop this unecessary buhalas with state bodies... you are an adult but you behave like a child. Grow up my bro , repent from your sins and God will have mercy on you
99% of Ghanaians are educated illiterate.why should this be an issue and support for MENZGOLD we have a long way to go as a country.
NPP CREATING ANOTHER DKM THE YOUTH OF GHANA ARE WATCHING NANA ADDO YOU CANT CREATE JOBS,YOU CAN ONLY DESTROY... FARE AND SQUARE! HOW I WISH 2020 COMES QUICKLY!!!
Let menzgold gives him nokofio he will sing a different tune.kwesi Camelon.
Kwesi, what happens when a country has about 99% illiterates? even the educated have become worst when it comes to such things
I FIND IT DIFFICULT TO UNDERSTAND THE PEOPLE SIDING WITH MENZGOLD. YES, THEY ARE HELPING THE ORDINARY GHANAIANS BUT THIS IS THE GOVERNMENT REGULATORY BODY. NO WITCH HUNT IN THIS AT ALL. COMPLY BY ACQUIRING LICENSE TO OPERATE AND THAT IS ALL