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Bawumia Pays Courtesy Call on Gonjaland Overlord

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Bawumia pay courtesy call on Yagbonwura-EnewsGhana
Mahamudu Bawumia at Gonjaland Overlord Palace

Mahamudu Bawumia at Yagbonwura Tuntumba Bore Ess I Palace

The vice president of Ghana Dr. Mahamudu Bawumia on 24th December, 2018 paid a courtesy call on the Gonjaland Overlord , Yagbonwura Tuntumba Bore Essa I at his Damongo palace in the Northern region of Ghana. The meeting was with respect to upcoming referendum to be held on 27th December, 2018 for the formation of new regions in some portions of the northern,Volta and Brong Ahafo region. The proposed region in the Gonjaland area is the Savanna region of which is the main locus for Dr. Bawumia’s Visit to Yagbonwura Tuntumba Bore Essa I.

During the meeting the vice president gave his word to the Yagbonwura of his goverment’s relentless commitment to entrenching democracy at the grassroots. He butressed the govertment’s  commitment to democracy by citing Justice Brobbey Commission set up to evaluate the petitions for new regions and make apt recommendations.

The occasion was marked by a durbar attended by thousands of people within the vicinity and surrounding towns and villages in the Gonjaland.

Also the Overlord of the Gonjaland, Yagbonwura Tuntumba Bore Essa I on behalf of his his people  gave his assurance to to the vice president of Ghana, that he will do all within his power to convince the populace under his jurisdiction to exercise their franchise in this referendum. He also pledged his commitment to ensure a massive voters turn out during the voting exercise.

Yabonwura Tuntumba Bore I

Furthermore, Yagbonwura Tuntumba Bore Essa I affirmed his endorsement of the  proposed Savanna region.

Whereas there are mixed reactions to the formation of the proposed new regions, the referendum according to the Ghana electroral commision chair person, Mrs. Jean Adukwei Mensa is expected to go ahead even though there are fresh petitions to the supreme court which seek to place an injunction on the 27th December, 2018 as referendum. Previous attempts have been squashed by the supreme court.

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Armed Police officers storm NAM1 mother’s house to ‘gather information’

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rmed Police officers storm NAM1 mother’s house to ‘gather information’

Heavily armed Police officers have stormed a house in Cape Coast belonging to the mother of Nana Appiah Mensah who is wanted for alleged fraud and money laundering in the Menzgold Ghana saga.

Residents told 3news.com the officers, numbering about 20 arrived at the huge one-storey house located at Adaaso at about 11:20 Sunday in search of Nana Appiah Mensah who is popularly known as NAM1.

Sources within the Central Regional Police Command have confirmed the ‘friendly visit’ to the house by a team of officers from Accra and Cape Coast but did not give further details except to say they were there to “gather information,” our correspondent Thomas Cann reported.

According to the sources, “no one was arrested” and that the visit was part of investigations by Interpol in the case being handled by the Police Criminal Investigations Department. It is unclear whether the officers met the mother, Mrs. Ivy Brew, who is said to be the owner of the property that sits on a large compound.

What happened?

A neighbour who witnessed the incident Sunday morning said they were there when suddenly “we just saw a lot of police [officers] at my next door. Apparently, they were looking for NAM1”

The source who spoke on condition of anonymity said the residents they initially thought the officers were in the neighbourhood because of an armed robbery, but it turned out they were after NAM1

“Initially, we thought it was armed robbery but later we heard they were looking for NAM1,” the source said, noting she never knew the property belongs to NAM1’s mother until Sunday’s incident.

People in the area told our correspondent Monday that aside someone in the house who is believed to be a caretaker, hardly do they see people moving in and out of the property that has been walled with electric fence wire.

According to them, once in a while, they find people come in and go.

When our correspondent visited the area Monday, the gate to the house was locked.

“There was a gentleman at the gate who told me his boss has asked him to come to the house to do something for the woman. For 30 minutes he has been at the gate without anyone responding to ringing of the doorbell,” Thomas Cann reported.

Police on Friday declared NAM1 wanted as they secured a warrant for his arrest.

The action by the Police followed a series of protests from aggrieved customers who have had their investments running into several thousands of dollars locked up in NAM1’s Menzgold firm.

“We are looking for him [Nana Appiah Mensah] to be arrested and that we have even obtained a warrant of arrest,” Director of the Police CID, DCOP Maame Yaa Tiwaa Addo-Danquah, said in a statement Friday.

The Police have since notified Interpol to arrest Nana Appiah Mensah who is believed to be hiding in either South African or Nigeria.

Background

The Bank of Ghana in August last year issued a public notice that Menzgold Ghana Limited is not licensed and has no authority to engage in the solicitation, receipt of money or investments and the payment of dividends or returns to its clients which is captured in Section 6 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

It also hinted of impending sanctions, saying after several cautions to Menzgold, it has started discussions with relevant regulatory authorities to sanction them for breaching the law.

Though Menzgold called the bluff of the central bank, it was forced to shut down in September 2018 by the SEC.

As part of the shutdown notice, the firm was ordered not to take new contracts (investments).

SEC claimed evaluation of Menzgold’s documentations show the company does not have the licences to trade in gold, and that, its operations are in breach of Act 929 “as well as a threat to unsuspecting and uninformed investors”.

The company has since been in tango with SEC as well as customers and investors who are demanding their returns and investments.

But when the issues appeared to have escalated due to pressure from the customers, Nana Appiah Mensah run to parliament with a petition to intervene so the company can resume operations and pay its customers.

Intervene for us to resume operations – Menzgold begs Parliament The company pleaded with the House to particularly intervene in the impasse between it and the SEC, which the company claimed has caused delays in paying its customers interest on their investments.

The company claimed in the petition to the Finance Committee of Parliament that the complete shutdown of its gold collectible vault by SEC has “caused a lot of serious challenges for the company and its customers [both local and foreign]”.

Accordingly, the firm wants parliament to “intervene and help resolve this matter amicably”.

Source: 3news.com

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Nana Appiah Mensah has been arrested in Dubai – Sources

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Nana Appiah Mensah has been arrested in Dubai - Sources

Nana Appiah Mensah has been arrested in Dubai – Sources

Nana Appiah Mensah, the Chief Executive Officer of gold dealership company, Menzgold, has been arrested.

He was arrested in Dubai on Saturday.

His arrest, according to Citi News sources, does not have anything to do with the scandal in Ghana, in which his company, believed to be a ponzi scheme, is unable to pay back thousands of customers their investments.

The arrest, which was first reported by the statesman newspaper’s online portal, is believed to be the result of a complaint filed by an individual in that country, who claims to have been duped by Mr Appiah Mensah.

Source: citifmonline.com

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I will make the NDC attractive again – Prof. Alabi

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I will make the NDC attractive again - Prof. Alabi

I will make the NDC attractive again – Prof. Alabi

Prof Joshua Alabi, a leading presidential aspirant in the National Democratic Congress (NDC) has identified re-branding the party to make it attractive to the Ghanaian electorate, as key to winning the next Presidential elections scheduled for 2020.

According to Prof Alabi, the re-branding of the NDC must come as part of an overall marketing strategy to position the NDC as the party of choice for the teeming Ghanaian youth who are in dire need of jobs, business opportunities and sustainable income.

As an expert in International Marketing, the former Vice-Chancellor of UPSA was of the view that the effective marketing of the NDC will naturally lead to the party’s victory in 2020, saying: “In marketing, we say when the marketing man do his job well, the product sells. This means when I reposition the party with a new look, by giving Ghanaians a new message of hope, majority of the voters will vote for the NDC with an overwhelming victory in 2020”.

Prof Alabi who was awarded the Chartered Institute of Marketing, Ghana (CIMG) Marketing Man of the Year in 2013, said it behooves on him, when elected as the flagbearer, to take up the responsibility of making the NDC attractive again to the teeming unemployed youth in the country. “The high standards I have set, demands that I position the NDC as the best political party in our sub-region.”

“Today the unemployed Ghanaian youth are increasingly getting disappointed and the NDC must be positioned as the last hope for them.”

“Most Ghanaians are looking up to us to re-position the party for victory. They expect us to embark on a strong marketing campaign which will give us an overwhelming victory in 2020” He added.

Prof Joshua Alabi was campaigning in the Afram Plains on the fourth day of his tour of the Eastern Region.

The Alabi had campaign has been to Achiase, Akim Swedru, Akim Oda, Ofoase Ayirebi, New Abirem, Atiwa, Nkawkaw, Kwahu Abetifi and Kwahu Mpraeso, before crossing over to the Afram Plains.

He had earlier toured Adeiso, Asamankese, Kade, Akwatia and Akroso to engage branch executives of the party to solicit their vote in order to become the Presidential Candidate of the NDC for the 2020 Presidential elections.

The University Professor who retired as the Vice-Chancellor of UPSA was accompanied by some leading members of the NDC including Ambassador James Victor Gbeho, Hon. Ken Dzirasah, Hon. Ernest Atuquaye Armah and Hon. Nii Amassah Namoale.

Source: Newsroom

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GH¢2bn GAT: Addison lied – Isaac Adongo

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GH¢2bn GAT Addison lied – Isaac Adongo

GH¢2bn GAT: Addison lied – Isaac Adongo

A member of the Finance Committee of Parliament, Isaac Adongo, on Friday, 11 January 2018, accused the governor of the central bank, Dr Ernest Addison of deceiving the public as far as the status of the Ghana Amalgamated Trust (GAT) vehicle which is to be used to shore up the recapitalisation drive of some five struggling local banks, is concerned.

GAT is an arrangement of private pension funds to inject GHS2 billion into supporting solvent and well-run indigenous banks, which had difficulties meeting the new minimum capital requirement of GHS400 million.

The banks are the merged Omni/Sahel Sahara Bank, Universal Merchant Bank, Prudential Bank, ADB and NIB.

The Bolgatanga Central MP’s accusation comes in the wake of mounting pressure on the central bank and the government to disclose the real faces behind the GHS2 billion support to the five banks under the GAT arrangement.

Speaking to Francis Abban on Morning Starr, Mr Adongo said the BoG governor has not been sincere about the status of the Trust to the public.

“No pension fund had invested one cedi in any of those five banks. That’s a fact… Ghana Amalgamated Trust was created on the 17th of December 2018, issued with the certificate to commence business the same day. When did they raise the 2 billion and from whom, by 31st December?

“So that’s a complete lie. You know who owns Ghana Amalgamated Trust? National Trust Holding Company (NTHC). Is that the pension funds that he’s talking about? The National Trust Holding Company owns hundred per cent of Ghana Amalgamated Trust, as a nominee shareholder for the government… When they say nominee shareholder, as representing the government and because it’s a nominee shareholder, it doesn’t have to cough up stated capital of two billion,” he said.

Disclosing faces behind GAT will boost confidence

Following the announcement of the package on 4 January 2018, the central bank came under heavy criticism for eliminating some local banks from benefiting from the scheme—an accusation Dr Ernest Addison dismissed as untenable, arguing that the regulator had nothing to do with the selection of the five banks.

Speaking on the Business Edition on Wednesday, Banking Consultant Dr Richmond Atuahene contended that revealing the identity of the sponsors would boost investor confidence in the bond to be issued to raise the GHS2 billion.

“If you want me to issue a bond, who is backing it? Can this institution, the GAT, worth their salt, go into the market and say that: ‘We are issuing this so back us?’ Whatever way you look at it, there are a few fiscal issues.

“If I were going to buy that bond, I would ask: ‘Who the sponsors are?’ You tell me GAT.

Then who set the GAT up? What’s the ownership, the ownership identity? If there’s no ownership identity, it would be very difficult for me to participate in it because at the end of it all, should something go wrong it means I won’t have a fallback position,” he said.

Source: classfmonline.com

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5 Facts about NAM 1 being Declared Wanted by Interpol you Must Know

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5 facts about NAM 1 being declared wanted by Interpol you must know

5 Facts about NAM 1 being Declared Wanted by Interpol you Must Know

In the last couple of days, there have been a hue and cry about Nana Appiah Mensah was otherwise known as NAM 1 not being on INTERPOL’s public website but a security person who has worked with the body for more than three decades has unveiled facts that may not be known to many which is why they are making such comments.

He disclosed to MyNewsGh.com on grounds of strict anonymity issues about how INTERPOL operates is highly restricted, since it is an international security body hence cannot give all details about its mechanisms to the public.

“However, we can say that like all security institutions, and even public ones, there is the public website and the restricted one”

1. INTERPOL does not just publish a person because a country says that person is wanted. There are rules for putting people on the wanted list, be it public or otherwise.

2. For very good reasons, not all persons who are on INTERPOL’s wanted list are on the public website. For security reasons, we cannot go into details about all of that.

3. What I can say, however, is that Ghana has requested that NAM 1  should be declared at the INTERPOL level as a wanted person and thankfully that request has been granted. It means that he is very likely to be stopped anytime he tries to cross the borders of any of the 194 member countries.

4. Once he is stopped, then the process of bringing him back to face trial will be triggered. (They cannot give all the details).

5. Moreover, we want to assure the public that INTERPOL is not the ONLY way by which a wanted person is returned to the country where he is wanted. The Ghana Police service has triggered all the processes (which again cannot put into the public domain because of their international nature, and they know international security matters are highly confidential).

Source: mynewsgh.com

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