In recent days Zylofon Media boss Nana Appiah Mensah has come under intense fire from the Bank of Ghana ranging from his source of money as well as the operations of Menzgold.
On Tuesday, August 7th, 2018, Bank of Ghana released a statement to the public that it is in discussions with relevant regulatory authorities to sanction Menzgold Company Limited for engaging in “solicitation, receipt of money or investment and the payment of dividends or returns to its clients” without a license to do so.
In the statement, the Bank once again reiterated its warning that Menzgold is not licensed to take deposits from Ghanaians and that whoever does business with them does so at their own risk.
It has been pointed out that Menzgold does not take deposits and the central bank is conflating deposit-taking with their gold trading to sully their name.
Many have defended Menzgold in the wake of BoG warning; Sarkodie’s wife, Tracy Sarkcess schooled the BoG on the activities of Menzgold and the latest to do so is Shatta Wale, the self-acclaimed ‘dancehall king’ signed to Nana Appiah Mensah’s label Zylofon Music.
According to Shatta Wale in a self-recorded video, Nana Appiah Mensah is rich but he has not used his wealth to purchase houses or asset outside Ghana as many rich dudes had been doing and called on the youth to rise up and build their nation.
Watch the video below…