MP defends govt over Menzgold saga

Member of Parliament  (MP) for the Tarkwa Nsuaem, George Mireku Duker, has asked sympathisers of Menzgold to stop blaming government for the recent happenings regarding the gold hub.

The Securities and Exchange Commission (SEC) wrote to Menzgold Ghana Company, demanding that all trading in gold without licence be ceased.

It also asked the company which has been on the warpath with the Bank of Ghana (BoG), not to take new contracts (investments) and also halt the broadcast and publishing of all its adverts forthwith.

Speaking on Peace FM’s ‘Kokrokoo’ on Thursday, September 13; Menzgold Chairman, Fred Ohene Frimpong stated they were not aware of contravening any laws regarding their operations and so, questioned why the SEC would come after them, asking them to shut down.

But, according to Tarkwa Nsuaem MP, the management of Menzbank subsequently changed to Menzbanc and now Menzgold despite forewarnings from the Central Bank.

He wanted the general public to know that “it is the activities of the institution (Menzgold) itself that have resulted into this…It’s the behavior of some people which won’t augur well for the nation…It is not the government”.

Mireku Duker asked Ghanaians to leave government out of the issue because Menzgold had created its own woes.

He narrated that Menzgold begun in October 2014 as Menzbank and when the Bank of Ghana got wind of it, cautioned the management to halt operations till it was given a licence and acquired the right documentation.

Meanwhile, Managing Editor of The Insight newspaper, Kwesi Pratt Jnr., has descended heavily on Menzgold and its Chief Executive Officer, Nana Appiah Mensah, over the brouhaha.

Kwesi Pratt h asked (BoG), SEC and all the appropriate State regulators in the financial sector not to spare Menzgold if indeed they were 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.



Story: Franklin ASARE-DONKOH




Double-track system…

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