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Nana Appiah Mensah apologises to BoG for ‘belittling its powers’

The Chief Executive of Menzgold Ghana Limited, Nana Appiah Mensah , has apologised to the Bank of Ghana for belittling its warning that his company is engaged in illegality.
BoG on August 6 warned the public against depositing cash and engaging in any form of investment with Menzgold as it does not have the authorization and requisite licences to operate in such capacities.
Accordingly, BoG said it was “in discussions with other relevant regulatory authorities towards the taking of appropriate action against the company”.
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Following the statement, Mr, Mensah responded to BoG accusing it of using Menzgold to do propaganda and demanded that it tells Ghanaians exactly what caused seven local banks in the country to collapse.
“Today’s joke: Bank of Ghana, so now you dey do propaganda? I beg paa, “Tell Ghanaians exactly what happened with the 5 or so collapsed banks you duly LICENSED & SUPERVISED for years,” he said in a tweet Tuesday morning..
He warned BoG against attempt to use his company to cover up its failures in the sector, saying “Please don’t attempt to use our dear Menzgold to cover up. I beg make we think!”
Days after his “attack” on the central bank, it emerged that Menzgold did not have licence to sell and trade in gold locally, and that its activities were in clear breach of its licence agreement.
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But in an apparent realisation of a breach of its licence, Mr. Mensah on Tuesday took to twitter to backtrack on his earlier tweet that appeared to be mocking the stance of BoG.
In his latest tweet, he said he is only a human hence fallible as he apologised to the central bank for his earlier comments.
“Owing to the fallible nature of man, I sincerely apologise for my initial reaction to the Bank of Ghana press release,” Mr. Mensah tweeted.
He claimed Menzgold is in talks with authorities of the Bank of Ghana to resolve issues regarding their authorization, adding they were “cooperating with the BoG and other state agencies

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Simon Kabutey
Simon Kabutey
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