Securities and Exchange Commission’s director general, Rev. Dr. Daniel Ogbarmey-Tetteh, has uncovered that he is additionally a casualty of a fizzled speculation.
Neglecting to make reference to the name of the speculation firm, the previous VP of Databank told that he lost his cash soon after putting resources into the arrangement.
‘I wouldn’t want to mention the organization but I put some money in some company and after a week or so it fell flat. I just have to lick my wounds and move on.’
Dr. Ogbarmey-Tetteh encouraged Ghanaians to do strict historical verifications of speculation firms before they join with them.
‘When there is a big juicy package from an agency then there is a higher risk so our commission was to inform and create awareness that was why we issued several notice to the public. One should be interested in the corporate governance of the organization, interested whether it’s been licensed or not and details underlying their operation. Regulated business should play along some rules and regulation and that one has to familiarize itself with these rules on our website or approach SEC if you are in doubt or send us email as some people has done. If you need economic development, you need patient capital and you can only get that in the security industry. If an agency promises you higher returns but low risk, look for the exit doors.’
He additionally expressed that SEC will, in the coming days, issue an announcement on the developing instances of digital money in Ghana.
Remarking on Menzgold, the SEC manager said cases that they caused the breakdown of the mainstream gold exchanging firm are false.
‘I don’t assume SEC is in charge of the breakdown of Menzgold. There was something generally defective in the plan of action thus it will undoubtedly occur.’
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