General News of Saturday, 30 May 2020Source: www.ghanaweb.comPayboy ends contract with Menzgold over arrest of officialsPayboy says it has opted out of its Payment Facilitation Agreement with MenzgoldFollowing the arrest of some of its officials on Wednesday, May 27, 2020, Payboy Company Limited says it has terminated its agreement with Menzgold to facilitate the payment of its customers. In a statement, the management of Payboy said "We have indicated to Menzgold Ghana Company Limited our decision to opt out of the 'Payment Facilitation Agreement' we signed on the 7th February, 2020. On Friday, the Economic and Organised Crime Unit announced it had arrested some officials of Payboy Company Limited indicating that the company was operating without the requisite licenses from either the Bank of Ghana or the Securities and Exchanges Commission. Menzgold appointed Payboy as a third-party entity to negotiate the settlement with the thousands of customers of the failed gold dealership firm. Read the full statement by Payboy Company Limited below.

Source: GhanaWeb May 30, 2020 06:33 UTC