Nana Appiah Mensah, the Chief Executive Officer of bullion investment platform, Menzgold, has mocked Ghana’s Central Bank over a new directive.

The Bank of Ghana on Tuesday reiterated its position on the business operations of Menzgold, cautioning the general public that the company’s not licensed to take deposits and or issue dividends.

But in a rebuttal on the video sharing platform Instagram, Mensah called the caution a joke, suggesting the BoG’s attempting to use the directive as a cover up of the issues surrounding the failure of some five banks recently.

This is not the first time the Bank of Ghana is raising a red flag over the operations of the company. Menzgold on the other hand say they operate legally.

The Menzgold gold trading platform offers ten percent (10%) monthly return on investment (ROI). The company says it has produced an unblemished 100% record since its inception, offering individuals an alternative source of income.