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Menzgold will not exist again – Deputy Finance Minister

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Menzgold will not exist again – Deputy Finance Minister

Deputy Minister of Finance has hinted that the Gold dealership company, Menzgold will not be in business again in Ghana.

According to the Deputy Minister, after several cautions from the Bank of Ghana and the Security and Exchange Commission, Menzgold has not been able to produce any legitimate license to the regulators thereby making their activities in the financial sector illegal.

The Securities and Exchange Commission some few months ago wrote to Gold dealership company Menzgold to shut down all investment trading in gold

In a September 3, 2018 letter signed by Deputy Director General, Paul Ababio, said: “In September 2017, the SEC issued a public notice indicating that it does not regulate Menzgold. The SEC began to further investigations into the activities of Menzgold in July 2018. In August 2018, the Commission called for an inter-sectoral meeting that involved the Minerals Commission, Bank of Ghana and the Securities and Exchange Commission. The Meeting concluded that it is evident Menzgold’s activities appear to go beyond the mandate authorised in its license”.

The letter from SEC added that failure by Menzgold to comply with the directive “will lead to the SEC employing other relevant measures under the law to enforce compliance.”

As a response to the letter from the Security and Exchange Commission, Menzgold on September 13, 2018, announced that it has temporarily halted its collectibles and any new business related to its gold vault market with immediate effect and since the halt of business, Menzgold not being able to resume till date.

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Eventually, Menzgold on September 27, 2018, hauled the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) to court over what it deemed as an unfair treatment being meted out to the company.

Menzgold in its suit is seeking an order from the court to halt these two state institutions from interfering in its business and operations. The gold dealership company is also asking the court to stop the BoG and the SEC from further publishing what it described as “derogatory notices” against its business.

However, speaking at a JoyBusiness Financial Service Forum themed “The Changing Tide of Ghana’s Financial Service Sector: The Cause, The Cost, the Clean up” monitored by Ghanatalksbusiness.com, Deputy Finance Minister, Charles Adu Boahen disclosed that “With the Menzgold issue, I think it is clear that the end is here. He is done”

He also cautioned that irrespective of the fact that, Menzgold’s activities have been terminated, the Management must pay every depositor’s money without fail.

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TROTRO LOVE: Meet the couple working together as Driver & Mate warming the hearts of Ghanaians

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Becoming business partners could be a difficult task for couples as balancing personal and business relationships is no mean task.

Both sides of the relationship, if not managed properly, could rub off on the other in a negative way, hence the old cliché which advises never to mix business with pleasure.

However, for 55-year–old Edward Armah Ago and his wife Evelyn Adjeley Adjei, 42, working together as a couple has strengthened their commitment to each other and deepened their relationship.

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For five years, Armah and Adjeley have been working as a driver and bus conductor (mate) respectively, plying their trotro business between La Tse Addo and Kwame Nkrumah Circle.

According to Armah who has been in the trotro business for about 30 years, he acquired his licence in 1989 after working as a mate for some years at the La honesty station.

When he started driving in the early 90s, he realised the income from that business was not sufficient to sustain his family and, therefore, together with his wife, decided to venture into producing local gin, commonly known as ‘Akpeteshi’.

With profits they made from the business and support from the local drivers’ union and Armah’s sisters, they purchased a Benz bus.

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Decision to work together

Mr Armah explained that he realised his mates made more money at the end of each trip as they didn’t account properly for the monies collected from passengers.

“We usually load from station to station but most of the times, people alighted before we reached the station and though the mates pick new passengers to fill the empty seats, they never accounted properly for it.

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“When we finally purchased our own vehicle we decided to work together as a couple, which has been very successful as we have paid our debts and are able to fully support our family from the business,” he said.

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Working in a man’s world

Confirming the earlier claims by her husband, Adjeley said within a short period, they realised working together in the trotro business was more rewarding.

She said people always stared when they saw her “shadowing” (a term used by mates to describe how passengers are invited to board a vehicle) but she was not bothered as that was how she and her husband made money to cater for themselves and their five children.

She has also been able to establish a relationship with other drivers, mates and station masters, mostly men, and they also accord her the necessary support.

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Testimonials

Each worker at the Nsawam station at Kwame Nkrumah Circle who spoke to this reporter was full of praise and admiration for the couple.

Mr Joe Anang Kwade, a driver, described the couple as humble, respectful and hardworking and recounted several instances where the couple supported some passengers who couldn’t pay their fares.

“I really love how this couple work; their selfless nature and how his wife accounts for every penny to the husband after the day’s work,’’ another driver, Mr Patrick Safo, added while commending them for differentiating between their love affair and business.

The Chairman of the La Tse addo – Circle drivers, at the station, Mr Francis Tamatey, said: “ They are very serious with their work. Unlike other drivers who usually have misunderstandings with passengers, you will never find them do such a thing.’’

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Passengers

Some random passengers also shared some encounters they had had with the couple and commended them for their level of professionalism.

Patrick Abbey, an accountant who frequently boarded the bus, gave an account of how the wife assisted lactating mothers with their babies and also helped the aged and toddlers.

“I love their sense of humour and the bond they work with. I really admire them and they are my role model.”

Future plans

The couple, who have been married for 15 years, told the Mirror they were optimistic that they would be able to save more money and buy a better vehicle and hopefully, start a ‘work and pay’ business for other dedicated drivers.

“We are able to cater for the education of our five children and take care of ourselves and a few other dependants through this business.

Currently we work six days in a week and rest only on Sundays so we are able to save more,” Adjetey stated.

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Source: graphic.com.gh

 

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Video: Jesus spotted in Congo, Everyone followed him

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"Jesus" spotted in Congo Everyone followed him.

Hilarious! Congolese men and women go wild after spotting a man who looks like Jesus on the street.

"Jesus" spotted in Congo Everyone followed him.

Pandemonium broke out on a street in Congo on March 25th after a man who looked like Jesus was spotted walking the streets.

The Congolese men and women were certain that this was Jesus walking the streets in their country and they did everything possible to touch him with a belief that they will obtain their much needed miracle.

Watch a video from the scene below

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SOURCE: CELEBRITIESBUZZ.COM.GH

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2 Nurses Arrested For Allegedly Selling A New Born Baby At The Hospital (Photos)

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Two nurses working at Trinity Clinic, Meiran, Lagos, have been arrested by the Lagos State Police command for allegedly selling a woman’s baby and deceiving her that she had a stillbirth.

It was gathered that the nurses, Mrs. Marbel Onochel and Dorcas Omitogun, allegedly sold the baby for N350,000 to Mrs. Helen Okoh, a resident of Ajah in Lagos,who has also been arrested.

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The suspects were alleged to have told the baby’s parents that it died and they buried the stillborn to save the family the trauma.
Besides allegedly engaging in child theft and trafficking, it was learnt that Onochel, a Delta State indigene, also ran an illegal traditional hospital at Meiran.

Trouble, however, reportedly started after the woman’s family insisted that they wanted to see the body, but the suspects could provide it.

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It was gathered that when the family insisted on seeing the body, the nurses claimed that the baby’s head was bad, prompting the family to report at the police station.

The suspects were arrested and during investigation, they confessed to have sold the baby to Mrs. Okoh.
It was gathered that Onochel kept N250,000 from the sale and gave Omitogun N100,000.

During interrogation, the woman who bought the baby said she was desperate for a child because she was unable to conceive, as she had fibroid.

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The police spokesman Bala Elkana, a Deputy Superintendent (DSP), cinfirmed the arrest and that the baby had been recovered from the buyer.

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He said that the suspects will be charged to court after investigation
The Nation

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