Menzgold boss apologises to Bank of Ghana

The Chief Executive Officer of Menzgold Ghana Company Limited, Nana Appiah Mensah, has apologised for describing the Bank of Ghana as a joke.

Mr Mensah a week ago branded the Central bank as a joke after the BoG released a public notice which stated that his company is breaching section 6 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930)

The Bank of Ghana in the notice signed by Mrs Caroline Otoo, Secretary to Governor Dr Ernest Addison, reiterated that Menzgold Ghana Limited is not licensed and has no authority to engage in the solicitation, receipt of money or investments and the payment of dividends or returns to its clients which is captured in the Act.

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In a now-deleted Tweet, the Menzgold boss posted: "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. Please don't attempt to use our dear Menzgold to cover up😎. I beg make we think!".

However, it appears barely a week later he has had a change of heart. Mr Mensah took to his Twitter handle late Tuesday to apologise for his outburst which he put down to the "fallible nature of man".

Owing to the fallible nature of man, i sincerely apologise for my initial reaction to the Bank of Ghana press release. We've engaged & are cooperating with the BoG and other state agencies, to cordially resolve in the interest of our beloved Republic of Ghana.#GhanaShallProsper pic.twitter.com/4m0DpcG6OJ

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— Nana Appiah Mensah (@mn_appiah) August 14, 2018

He posted: "Owing to the fallible nature of man, i sincerely apologise for my initial reaction to the Bank of Ghana press release".

Mr Mensah also revealed that his company is engaged and cooperating with the BoG and other state agencies to resolve their issues.

"We've engaged & are cooperating with the BoG and other state agencies, to cordially resolve in the interest of our beloved Republic of Ghana.#GhanaShallProsper," he added.

Mr Mensah is due to be questioned by officials of the Economic and Organised Crime Office (EOCO) on Friday, August 17.