Bombshell: Some Banks deposited their monies with Menzgold-Majority Leader reveals

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The Majority Leader and Minister for Parliamentary Affairs, Osei Kyei Mensah Bonsu has revealed that some banks in the country deposited their monies with gold trading firm, Menzgold.

According to him, the Bank of Ghana should solely take culpability for the crisis that has rocked the financial sector in the country, saying ‘’the monitoring division of the Bank of Ghana was laxed and did not do its work well. That is how come we have these challenges on our hands’’ he said on Accra based okay fm and monitored by

He noted also that, the Bank of Ghana also supervised deposits of issued sovereign bonds with private banks in the country, a situation he explained was illegal.

‘’The Bank of Ghana led the way and allowed monies that accrued from sovereign bonds to be given to a private bank to manage. Where in this world does that happen? But these are some of the things that were allowed to go on in the previous administration, yet people seek to blame the current government for the mess in the financial sector. This should not happen’’. He added.

Mr. Kyei Mensah Bonsu said the current government is doing all it can to sanitise the financial sector and to ensure that operations in the sector are done in accordance with international best practices to forestall any crisis in the future.


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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