Connect with us

General News

Attorney General Assures Menzgold Customers

Published

on

In a significant development for embattled Menzgold Ghana Limited customers, the Attorney General of Ghana, Godfred Yeboah Dame, has assured them of justice.

This comes after a new charge sheet was filed at the High Court, charging Nana Appiah Mensah, CEO of Menzgold, with 39 fresh charges of defrauding by false pretense, engaging in gold trading without a license, and money laundering.

During his keynote address at the 40th International Symposium on International , Dame described Menzgold as a Ponzi scheme that has caused great harm to its victims. He highlighted the devastating consequences the scheme has had, including leaving many customers homeless, leading to broken marriages, and even resulting in loss of life.

Dame revealed that Menzgold had operated under different names before settling on its final name, Menzgold.
The company, which dealt with the purchase of gold collectibles from the public and issued contracts promising guaranteed returns, did so without the necessary license from relevant authorities.

He added that after thorough investigations, criminal prosecutions have now begun against the perpetrators of the scheme.

The Attorney General also addressed another scandal involving the former boss of the Public Procurement Authority (PPA), Adjenim Boateng Adjei.

He described the scandal as the most shocking of all procurement-related corruption cases involving public officials. Adjei was accused of establishing a company while still in his position at the PPA, bidding for government contracts, and subsequently selling the contracts at a higher price to other contractors.

Dame pointed out that the detection of false or inconsistent claims by contractors is often hindered by the protection extended by corrupt public procurement officers.

The case involving Adjei, who was terminated from his employment by the president and had his membership withdrawn by professional institutions, is currently being prosecuted.

The Attorney General’s assurances will bring some relief to Menzgold customers who have suffered significant financial losses due to the Ponzi scheme.

With criminal prosecutions underway, there is hope that justice will be served and the victims will be able to recover some of their losses.

Source: dailyguide

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

NPA Announces Petroleum Price Floors For September 16 – 30, 2024

Published

on

The National Petroleum Authority (NPA) has announced the ex-refinery and ex-pump price floors for the period of September 16 to 30, 2024.

The price floors, which are the minimum prices at which petroleum products can be sold, are as follows:

– Petrol: GHS 9.04 per liter (ex-refinery) and GHS 12.31 per liter (ex-pump)
– Diesel: GHS 9.74 per liter (ex-refinery) and GHS 12.99 per liter (ex-pump)
– LPG: GHS 10.97 per kilogram (ex-refinery) and GHS 13.13 per kilogram (ex-pump)
– MGO: GHS 9.74 per liter (ex-refinery) and GHS 10.68 per liter (ex-pump)
– Local Kerosene: GHS 9.92 per liter (ex-refinery) and GHS 11.72 per liter (ex-pump)

The NPA has entreated Bulk Import, Distribution and Export Companies (BIDECs), Oil Marketing Companies (OMCs), and LPG Marketing Companies (LPGMCs) to comply with the announced price floors.

The NPA has also announced that the ex-refinery price floors exclude the premiums charged by International Oil Trading Companies (IOTCs) and the operating margins of BIDECs.

Similarly, the ex-pump price floors exclude the Marketers’ and Dealers’ Margins of OMCs/LPGMCs.

These margins will be independently determined by the companies, as pertains under the Price Deregulation Policy.

Overall, the announcement of the price floors for September 16 to 30, 2024, is a positive development for consumers and companies in the petroleum industry.

It will help to ensure that prices are stable and predictable, while also allowing companies to make a reasonable profit.

Source: dailyguidenetwork.com

Continue Reading

General News

Cancel all prospective mining licences now

Published

on

The Youth in Natural Resources and Environmental Governance (Youth-NREG) Platform has joined the calls for a ban on all illegal mining activities commonly referred to as galamsey.

Youth-NREG in a statement dated Monday, September 16, urged the government to “Cancel all prospective mining contracts and/or licenses” until a solution for the galamsey menace is found or reached.

The group bemoaned the devastating impact of galamsey stating that “irresponsible mining is not only an environmental issue but also a matter of injustice and against the right to clean environment and good health of present and future generations.”

The management of Channel One TV and Citi FM will embark on a campaign titled ‘I Stand Against Galamsey’ on Monday, September 16 aimed at urging the government to take decisive and sustainable action against illegal mining activities that are destroying the environment and polluting water bodies.

The campaign’s objective will be amplifying the voices of various associations, organizations, and unions calling for an end to the illegal mining menace.

Youth-NREG also called on all “Ghanaian youth to support and actively contribute interventions that will lead to the restoration and protection of our ecosystem” in its statement.

Below is the group’s statement.

PRESS RELEASE

YOUTH CALL AGAINST IRRESPONSIBLE MINING AND THE DESTRUCTION OF FOREST RESERVES & WATER BODIES

The Youth in Natural Resources and Environmental Governance (Youth-NREG) Platform, which is made up of young climate and environmental advocates in Ghana is deeply concerned about the rampant irresponsible and illegal mining activities (galamsey) that continue to devastate Ghana’s forest reserves, agricultural lands, and water bodies.

Some 34 forest reserves and 4 major rivers have so far been severely damaged by such activities, leading to the loss of biodiversity, ecosystem services, and livelihoods. This ongoing destruction threatens the very survival of citizens and amounts to Ecocide, a crime against our environment and future.

We acknowledge the calls from various stakeholders, including religious leaders, civil society organizations, the Media Coalition Against Illegal Mining, and environmental advocates, for decisive action against these activities.

The Government of Ghana on the other hands has the ultimate responsibility in enforcing existing laws, holding accountable those responsible for this environmental destruction, and ensuring the restoration of the ecosystems that have been devastated.

In the light of this, the Youth-NREG Platform calls on the Government of Ghana to take the following actions:
1. Stop all forms of illegal mining activities with immediate effect.

2. Suspend temporarily all legal mining activities to comprehensively review and enforce existing policies and regulations.

3. Cancel all prospective mining contracts and/or licenses.

4. Ensure that all companies and individuals involved in or found guilty of irresponsible mining and the destruction of forest reserves or water bodies are surcharged and are made to bear the cost of restoring the damaged ecosystems.

5. Clearly make budgetary allocations from the national budget to support the District or Municipal Assemblies in fighting galamsey or irresponsible mining.

6. With immediate effect repeal LI2462 which we find very destructive to our environment and future.

7. Collaborate closely with community leaders, media and civil society organizations to improve surveillance, monitoring, and enforcement across the country’s forest reserves and rivers.

8. Present a blueprint of pragmatic livelihood alternatives for young people involved in irresponsible or illegal mining activities.

The time for action is now. Irresponsible mining is not only an environmental issue but also a matter of injustice and against the right to clean environment and good health of present and future generations. We therefore urge the Government of Ghana to lead the charge in holding perpetrators accountable and ensuring that the damages caused to our natural resources are reversed especially when Ghana has signed onto international protocols and conventions that enjoins us to promote and ensure environmental protection.

We at Youth-NREG remain resolute and unswerving to working with government, civil society, media, religious bodies, traditional leaders and other stakeholders to protect Ghana’s environment and promote sustainable development for future generations.

We call on all Ghanaian youth to support and actively contribute to interventions that will lead to the restoration and protection of our ecosystem. Let us remember that our survival as humans depends on how well we manage the environment!

Continue Reading

General News

Security forces to be deployed at borders to prevent grain smuggling

Published

on

Defense Minister Dominic Nitiwul says the government will deploy security personnel to all border towns across the country, especially the northern part, to prevent the smuggling of grains to neighbouring countries.

It forms part of the government’s ban on the export of grains to avert possible food shortages in the country following months of drought.

Defense Minister Dominic Nitiwel says the move aims to protect the citizenry.

“We will act well. We are deploying security personnel] across the borders, particularly in the northern part. We are also [deploying] to the east and the south. And so we will ask citizens to support the security agencies.

“If, for some reason, there is some unapproved route or approved route or somebody sees something that is going on that is not nice, please let us know so that we can act appropriately. It is for the good of all of us that we should not make our citizens suffer.”

Continue Reading

Trending