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Menzgold Sues Bank of Ghana and SEC

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MenzGold Ghana MenzGold Ghana[/caption] Menzgold Ghana Limited has sued the Bank of Ghana and the Securities and Exchange Commission at the Commercial Division of the High Court for alleged illegal decisions and notices that the gold dealing firm says have harmed its business. Menzgold is asking the court to make some declarations bordering on the nature of its business, as well as restrain the two regulatory bodies from further ‘baseless’ acts and to award exemplary damages against them. Among the specific reliefs sought by Menzgold are; a. A Declaration that the Plaintiff’s business does not fall within the present legislated scope of the Banks and Specialized Deposit – Taking Institutions Act 2016 (Act 930). b. A Declaration that Plaintiff’s business activities does not fall within the present legislated scope of the Security Industry Act, 2016 (Act 929); c. A Declaration that the 1st Defendant’s Notices No. BG/GOV/SEC/2018/12 and BG/GOV/SEC/2017/24 dated 6th August 2018 and 28th November, 2017 respectively have hurt the business reputation of the Plaintiff; d. A Declaration that the 2nd Defendant’s Notice No. SEC/PN/002/09/2017 dated 22nd September 2017 has harmed the business reputation of the Plaintiff; and e. A Declaration that the 1st Defendant’s Notices No. BG/GOV/SEC/2018/12 and BG/GOV/SEC/2017/24 dated 6th August 2018 and 28th November, 2017 respectively are an abuse of the Defendant’s discretionary powers contrary to Article 23 and Article 296 of the 1992 Constitution. The rest of the reliefs are for; f. A Declaration that the 2nd Defendant’s Notice No. SEC/ PN/002/09/2017 dated 22nd September 2017 is an abuse of the Defendant’s discretionary powers contrary to Article 23 and Article 296 of the 1992 Constitution; g. A Declaration that the directives contained in the letter of 7th September 2018 was an abuse of the 2nd Defendant’s discretion as same was arbitrary, capricious and contrary to Article 23 and Article 296 of the 1992 Constitution; h. An order setting aside the directives contained in the 2nd Defendant’s letter dated 7th September 2018; i. An order of the Court directed at the lst and 2nd Defendants to publish an unqualified retraction and an apology with the same prominence with respect to the Notices dated 6th August 2018 and 22nd September 2017 respectively; j. An order of Perpetual Injunction to restrain the 1st and 2nd Defendants, its officers, servants and agents from interfering with the Plaintiff’s business activities or further acts of disobedience and non-compliance with law by publishing any such derogatory Notices; k. Exemplary and Aggravated Damages for the harm caused to the Plaintiff’s business reputation; l. An order specifying a time limit within which the judgment of this Court should be complied with; m. General Damages; and n. Cost inclusive of the Plaintiff’s Legal Fees. Source: www.graphic.com.gh]]>

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Popular Hausa movie director, Nura Mustapha Waye dies a shocking and sudden death

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Popular Hausa movie director, Nura Mustapha Waye dies a shocking and sudden death

Nura Mustapha Waye, a movie director in the Hausa movie industry popularly known as Kannywood, has died. (more…)

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Mum tells Burna Boy to tone down on the madness as the Afrobeat star turns 31

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Bose Ogulu has told her son Burna Boy to “tone down the madness” as she celebrated his birthday. (more…)

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Perez Musik announces ‘Glorified’ concert with MOG Music, Akese Brempong, Efe Grace and Pita

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GLORIFIED FLYER

The Hewale Lala (Song Of strength) hit maker Perez Musik gets ready to have his first-ever major concert. (more…)

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610Music Unveil Their Artistes, Korsah and Richflow to the World

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610Music Unveil Their Artistes Korsah and Richflow to the World 4545

Kofi Sonny, CEO of 610Music, a direct representative for Universal Music Group in Africa, unveiled two of his newly signed artistes to the world over the weekend. The event pulled in dignitaries from all over the globe to witness what many have dubbed “the birth of greatness.” (more…)

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Ghana Jamaica Homecoming Festival launched

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A press launch for this year’s Ghana-Jamaica Homecoming Festival was held yesterday, Thursday, June 30. (more…)

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GuiltyBeatz returns with a galactic dance anthem ‘Universe’ featuring Mr Hudson and Twitch 4EVA

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GuiltyBeatz is ringing in the summer! The Grammy-nominated Ghanaian producer and DJ is back with another dazzling solo effort – an Amapiano-infused dance anthem ‘Universe’ featuring Pop sensation, Mr Hudson and buzzing Ghanaian singer, Twitch 4EVA. (more…)

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