Business, Ghana

MENZGOLD – BoG: Institutional heads to cash in big time

This week has been filled with news of Menzgold and Bank of Ghana’s caution statement concerning the gold dealing firm. According to the BoG, Menzgold does not have the required license to operate as cash deposit firm and as such is operating illegally.

Precious Minerals Marketing Company (PMMC) has also gotten involved in the issue and alleged that Menzgold has no license to export gold. More worrying, Nana Appiah Mensah has been invited by EOCO to answer questions concerning Menzgold and this has raised some suspicions among Ghanaians, especially the youth.

Most of these people believe that all this is a calculated attempt by some state institutions to milk Nana Appiah Mensah of his money knowing how rich he is, and we believe so.

This is going to be a Cocoa season for some institutional heads as they deliberate invite the millionaire for interrogations.

The Bureau of National Investigations (BNI) could be one of the institutions to call Nana Appiah Mensah to their office for questioning. The Zylofon boss must be shivering by now and may have to let out millions of Ghana cedis to have a sound sleep.

Who would spare a millionaire? The National Security and CID are also likely to involve themselves in the Menzgold-BoG issues as one cannot visit the palace with empty hands.

Parliament will definitely not let this bypass them. It won’t come as a surprise to many if parliament strategically decides to invite NAM1 over to the House to answer questions on Menzgold.

Some broke individuals would start coming forward with accusations against any of NAM1’s businesses and begin to sue the rich man for damages.

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If Nana Appiah Mensah is not doing anything illegal, he should be determined not to keep his wallets opened.

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