Otumfuo Gold Coin can lead to wealth creation — SEC Director-General

The Securities and Exchange Commission (SEC) identifies with the Otumfuo Commemorative Gold Coin because it can lead to wealth creation, the Director-General of the Commission, Rev. Daniel Ogbarmey Tetteh, has said.

Consequently, he has encouraged Ghanaians to ensure that even as they buy into the Asantehene’s legacy of peace, they should also think about the culture of savings and investment.

Speaking when he received the Otumfuo Commemorative Gold Coin on Friday, February 11, 2022, from a delegation that called on him, the SEC boss said one thing that can drive the nation’s progress is wealth creation as that is one way the people can have the peace of mind to go about their daily activities.

Safe Investments

Rev. Ogbarmey Tetteh explained that SEC has the mandate to ensure that people’s monies and investments with financial institutions are safe.

“When you look at some of the incidents that happened in the last few years, especially when we had the financial sector clean up, there were pockets of agitations around and they were all connected to monies being locked up,” he said.

He explained that the mandate of SEC is to ensure that players in the financial sector do what is right to ensure that the monies that people, through their sweat and toil, put aside in savings and investments are well protected.

The Director-General added that SEC would ensure that the market operators do what is right because when wrong things are done, they can create a lot of disturbances.

Quick Money

Rev. Ogbarmey Tetteh bemoaned the craze for quick money in the country.

“Ponzi schemes are springing up all over the place,” he said and expressed surprise that Ghanaians continue to fall to such schemes.

On that basis, he sent a strong warning to perpetrators behind such schemes that SEC has formed a stronger alliance with the law enforcement agencies and anyone caught will be dealt with by the law.

“To Ghanaians let’s be more discerning and begin to ask questions when you are being promised something that is too good to be true especially how are they able to generate that much they promised you,” he advised.

Otumfuo Worth Celebrating

Rev. Ogbarmey Tetteh said the Otumfuo commemorative gold coin is worth it; since it celebrates the legacy of Otumfuo Osei Tutu II.

He, therefore, commended the E ON 3 Group and its partners for the initiative.

“We are happy to throw in our support where it is possible to ensure that we entrench peace in our country,” he said.

He added: “Apart from his peace initiatives, he had also been contributing to the development of the country in diverse ways.”

Rev. Ogbarmey Tetteh indicated that the road map outlined by the E ON 3 Group and its partners to let every Ghanaian get a piece of the gold coin so as to share in the legacy of Otumfuo is very commendable.

Appreciation

Rev. Ogbarmey Tetteh expressed deep appreciation to the organisers of the commemorative gold coin initiative for the honour done him as one of the select group of Ghanaians to be seeing a piece of the coin.

“I deem it as an honour and I am humbled by that gesture,” he said adding that, he was also happy to be part of the unveiling of the coin in Kumasi in December last year.

Peace not for granted

Speaking on behalf of the delegation that presented the gold coin to the SEC boss, the General Manager of the E ON 3 Group, Mr Jesse Agyepong, said the peace initiative of the Otumfuo cannot be taken for granted.

He said the nation needs peace to develop that is why everything is being done to support the King in that respect.

Delegation

The delegation included Mr Richard Adjei Mensah Ofori Atta, Executive Chairman of E ON 3 Group; Mr Festus Ofosu-Yeboah, Business Head, Adjinganor branch of Access Bank; Margmay Mefful, Strategy- Retail Banking, Access Bank.