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 i 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.