The Bank of Ghana (BoG) recently cautioned the general public not to deposit any money with the company because it has not been licensed to do so. A Deputy Governor of the Bank, Dr Johnson Asiamah appearing before the Public Accounts Committee (PAC) of Parliament on Tuesday noted that Ghanaians who defy this caution do that at their own risk.
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Dr Asiamah told the committee: “Only last week we caused a publication in the newspapers about Menzgold to the effect that we have not licensed them to accept deposits, because, to accept deposits, you will need a license from the Bank of Ghana. We have not licensed them and hence if you go ahead to do any business with them, it is at your own risk.”
He added that: “So we took the first step by notifying the public. If they ask you to give them deposit don’t do it.”
But reacting to the BoG claims on Class 91.3FM, Mr Offei said: “Menzgold Ghana Limited is a gold dealing firm, we buy gold and sell gold. All our operations or whatever we do in our outlet is directly linked to the sale and purchase of gold.
“For that reason we have acquired the license that gives us the chance to buy gold and sell gold that is by the Minerals Commission of the Republic of Ghana.
“We are not a microfinance, neither are we a financial institution and so we do not take deposits in anyway.”
He added: “We have referred the matter to our legal team headed by Kwame Akufo to look at the issue, we are a law abiding firm and so we are asking them to assist us to bring the issue to a close.”
So what Is Menzbanc? Here is what the company advertises:
“Menzgold Ghana Limited is a limited liability company duly registered and incorporated in Ghana by the company’s Act of 1963 (ACT 179). According to some reports it is an affiliate of Swiss Gold Global in Zurich, Switzerland and Ghana’s first Bullion Bank. The company undertakes dealership in Gold, Diamonds and other precious stones and metals. The organization operates a BULLION BANKING system as per the below outlined services and products lines;
Gold bullion Investments
The sale and purchase of precious stones and metals Smelting and Assaying
Bullion depository vault services
Jewellery sales
Mining Prefinancing
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The bank prides itself as having the best state of the art and a very secured bullion vault, having banked close to five (5) tones of gold and silver bullion as well as other precious stones like diamonds and so on. The continues thumbs up by a number of corporate groups distinguishing and establishing Menzbanc as the biggest, most reliable and distinguished indigenous Gold exporter with proven records and statistics, add another enviable coloured feather to our cap.
Recognizing the need to improve to attain a height as the best in the world however, the bank has resolved to increase our export capacity and develop systems and structures to position Menzbanc as a world-class exporter of gold bullion and nuggets.
Menzgold Ghana Limited bullion investment ( gold trading) platform that offers ten percent (10%) monthly return on investment (ROI) has produced good records since its inception; offering individuals a sure alternative source of income amidst this current global economic ills. Customers leave our premises always satisfied and very delighted with the excellent customer services offered and the ten percent (10%) dividend they receive.
By our affiliation to Swiss Gold Global in Switzerland; sharing in the objective of turning the fortunes of groups and individual around, by ensuring Absolute Financial Freedom for people, has inspired and or driven us to attain the unprecedented height and records we’ve set in Africa.
With a well dedicated Board of Directors, formulating strategies and policies for the smooth administration of the business by our very innovative and competent management team, menzbanc is standing very tall, giving other financial banks tough competition, forcing several to put the customers in the heart of their operations, offering them more value than the case was before. We are also very socially responsible, as we deem the company a mission haven been privileged by the opportunity presented to us by the populace to render them our products and services; we believe that privilege makes us a business. In this regard, we have successfully executed social interventions programs such as; Poverty alleviations funds as seed capital to number of customers, educational scholarships and so on as evident on our media page as we desire to do even more in the years ahead.”
Compensation Plans:
You have the option of choosing either the monthly or weekly gold purchase plan; which allows you to decide and make a personal commitment to set aside a fraction of your weekly or monthly income, purposely for the purchase of 5grams of gold or more, to be securely stored in a vault. If the process is continued uninterrupted for a year or more, one is sure to have huge quantity of gold accumulated over the period and a much stronger purchasing ability, with respect to gold price appreciations and the value not affected by depreciation as it is with paper money.
Singles purchase – You can also decide to make single purchase as and when you have the means, to add to your store of gold grams, kilograms or ounces at any time, in addiction to your store of gold in vault.
Sell whenever you like- You can chose to re-sell all or some of your gold with a simple note authorizing us to act in that regard. Our system will process your sell request based on the next London Gold Fixing. Interestingly, you are not charged ANY additional margin or fess when you sell. You get INSTANT cash to meet any pressing economic need as there are unlimited number of gold buying prospects with a very high demand.
Conversion of your gold to collectibles if you wish:
At any time of your convenience, you can instruct us if you wish, to convert your raw/pure gold in vault to fine collectibles, such as; jewelries of all forms and shapes among other things at a fee. What’s even more exciting is that, we deliver these finished products to you regardless of your destination worldwide comparably at a very cheap fee.
Cheque Book and Visa Debit Card.
By virtue of our association with Ecobank, we provide you with a cheque book and a visa debit card acceptable in most visa ATMs in the world. This gives you access to cash anywhere in the world and at any time, when you opt for the extra value on your gold to be liquidated for cash, as we sell the proportion instructed and credit your ecobank account instantly.
are entitled to the cheque and Visa Card when you subscribe to the Gold Vault Market program by consenting to its governing terms and conditions.”
Gold Treasure Box:
Each member shall subscribe once with a non-refundable amount of one thousand five hundred Ghana Cedis (GHS 1,500) only. An account do not at any point assume dormancy or expiration once a subscriber has successfully enrolled onto the program.
A subscriber gets rewarded with 7.75 grams of 999.5 pure 24 carat gold within 24 hours, anytime he/she has successfully enrolled an individual.
The company grants subscribers, an instant buy-back option after the acknowledgement of receipt of the gold reward.
References:
https://www.smartincomeoffice.com/menzbanc-gold-investments-review/
