The Chief Executive Officer of Gold buying firm, Menzgold, Nana Appiah Mensah has described as â€œneedlessâ€ threats by the Bank of Ghana (BoG) to penalize it for taking deposits.
The governor of the Central Bank, Dr. Ernest Addison disclosed Monday at a press conference that Menzgold will soon be sanctioned after preliminary investigations showed it is conducting business contrary to some provisions in the Banks and Specialised Deposit-taking institutions Act 2016 (Act 930).
â€œWhat is clear to us is that they have a system that accept deposits from public. Thatâ€™s becoming very clear,â€ the governor of the Central Bank Dr. Addison said at the press conference to present highlights of the 82nd regular Monetary Policy Committee (MPC) meeting.
Reacting to the Central Bankâ€™s claim, the CEO of Menzgold in a tweet Tuesday challenged the Central Bank to prove its allegations.
â€œSo what happened to the presumption of innocence under article 19(1)c?â€ asked Appiah Mensah, stating emphatically that â€œMENZGOLD DOES NOT TAKE DEPOSITS. WE ARE LAW ABIDING.
â€œRespectfully, he who alleges must immediately discharge the burden of proof. Unsubstantiated utterances are needless. â€œThe law is what the judge says it is.â€