Menzgold Ghana Limited has condemned what it describes as needless leak of a meeting it had with the Securities and Exchange Commission (SEC). The gold trading company said the leak to the media of a confidential meeting is in very bad faith and distasteful as it defeats the confidence in the body and is an affront to cooperation.
The company in a statement said in the wake of the Bank of Ghana’s warning to the public to desist from doing business with the organization. It availed itself to all relevant State Institutions for various consultations and dialogues designed to arrive at a productive and sustainable resolution.
Menzgold’s statement is in response to a directive by the Security and Exchange Commission for the company to suspend their gold trading with the public with immediate effect. The company said, as a law-abiding organization they have referred the matter to their lawyers and the right action will be taken. The company further assures its customers that, neither Menzgold as a business entity nor any of its products has been shut down.
Background
The bank of Ghana in 2017 issued a public notice warning people not to deal with Menzgold because the company was flouting some laws. the central bank noted that under the country’s laws Menzgold was conducting business that doesn’t fall in line with the banks and specialized deposit taking institutions act, 2016( 930).
by: Ruby Inusah
