The second Deputy Boss of the Central Bank of the Republic of Ghana, Madam Elsie Awadzie has said Menzgold customers proved stubborn when they refused to heed to numerous warnings of the Bank of Ghana about their dealings with Menzgold for which reason they should not expect the Bank to pay them a dime, MyNewsGh.com has learnt.
“BoG has been very clear that Menzgold was an unlicensed institution and that people did business with them at their own risk” she said.
She said Menzgold customers had received enough warning and no one should expect Bank of Ghana to intervene.ADVERTISEMENT
“With Menzgold, there was no visibility at all. As far as we are concerned, we had issued enough warnings. We did our job… BoG has no power to intervene in the Menzgold issue. We did not regulate them, and we had nothing to do with them. We have no power to intervene,” she added.
According to the 2nd Deputy Governor of the Bank of Ghana, even if they want to help, they have no such power to intervene and to pay anything to any client.