You are here: HomeBusiness2019 01 18Article 716207

Business News of Friday, 18 January 2019

Source: Prime News Ghana

MenzGold saga: We wouldn’t have been here if I was not forced to resign - Ex-Deputy Governor of BoG

Click to read all about coronavirus →

Former Second Deputy Governor of the Bank of Ghana, BoG, Dr Johnson Asiama has said the issues regarding embattled MenzGold Company would have not reached its current state if he was not forced out of office.

According to him, plans were in place to structure and make sure activities of MenzGold were duly licensed before he was forced to resign by the NPP administration.

Dr Johnson Asiama in press statement clarifying issues of his alleged involvement in the MenzGold saga forcing him to resign by a Vice Chairman of the NPP, Omarie Wadie said he was rather called and asked to resign from office by the Finance Minister, Ken Ofori-Atta.

Still, on the MenzGold saga, the Former Deputy Governor said customers would have not been in this current situation if he was not forced out of office.

“At the end of the meeting, they understood and they appealed to me to help them restructure so that BoG could regulate them. I told them they had to apply for a financial institutions license (in the minimum) before we could engage them. In the meantime, I instructed that they halt the Bullion Banking products and to advertise in the newspapers to that effect, which they subsequently did”.

But unfortunately, “that same week was when I was called by the Minister of Finance and told that the President had decided to replace me with his own person, which I obliged. Certainly, if my efforts had continued even after my exit, we would have succeeded in restructuring MENZGOLD or resolving them entirely before end-2017”.

Defunct MenzGold Company has been faced with a lot of regulations related issues forcing the company, to fold up.

Many customers of the company have lost their investment with the company as it is believed to be a PONZI scheme.

An Accra Circuit Court last month issued an arrest warrant for the CEO of MenzGold Nana Appiah Mensa. EOCO has also frozen the accounts of the CEO and seized some properties of the company.

Send your news stories to and via WhatsApp on +233 55 2699 625.

Join our Newsletter