Stop blaming government, Menzgold is its own enemy – Tarkwa Nsuaem MP

General News of Saturday, 15 September 2018

Source: peacefmonline.com

2018-09-15

Menzgold is a gold-trading firm

Member of Parliament for the Tarkwa Nsuaem, George Mireku Duker has asked sympathizers 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, 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 are not aware of contravening any laws regarding their operations and so, questioned why the SEC would come after them, asking them to shut down.

He however assured customers and the general public that Menzgold is “prepared to deliver and then we’re going to deliver . . . Whatever it is we’ll find a way to negotiate with them, sit down with them and find a permanent solution to this problem because we’ll not fail. And we’ll not fail Ghana.”

The company’s assurance appears not to have sunk well with the Tarkwa Nsuaem MP who addressing the issue on Friday edition of ‘Kokrokoo’ told host Kwami Sefa Kayi that Menzgold deserves the action from Bank of Ghana and the Securities and Exchange Commission (SEC).

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

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

According to him, the management of Menzbank subsequently changed to Menzbanc and now Menzgold despite forewarnings from the Central Bank.

He wants 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”.

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