Businessmen and CEO of Menzgold, Nana Appiah Mensah, has descended heavily on the Bank of Ghana, describing the respected state institution as reckless and irresponsible.

Appiah Mensah’s outburst follows BoG’s caution to the general public not to deposit any money with Menzgold Company Limited since it has not been licensed to do so.”

“The general public is hereby informed that Menzgold Company Limited is not licensed by the Bank of Ghana and has no authority to engage in the solicitation, receipt of money and payment of dividends to its client.

“Accordingly, the general public is cautioned that anyone who transacts any of the above mentioned business with Menzgold Ghana Company Limited, does so at his/her own risk and Bank of Ghana will not be liable to such clients and depositors in the event of loss, the BoG said in a statement.

However, Appiah Mensah took to his twitter handle on Friday to lash out at the bank saying, “BOG is well informed that, Menzgold is operating within the legal framework as it is now. Where is Ghana's commodities trading Act? Stop this hypocrisy!”