The Bank of Ghana cautioned Ghanaians not to invest in the Freedom Coin in a press release on March 9, 2022.
Nana Kwame Bediako said on Twitter that the Central Bank should focus on the cedi devaluation rather than Freedom Coin.
Due to public anxieties, some have likened Freedom Coin to Menzgold, a gold dealership and investment enterprise founded by Nana Appiah Mensah, aka Nam 1.
Nam 1 has been refusing refunds since 2018. In January 2022, the Economic and Organized Crime Office (EOCO) was given the authorization to liquidate his assets to pay his customers.
Despite the Bank of Ghana’s warning and other people’s misgivings, some say they would invest in the Coin when it is introduced but remove their cash if they suffer a loss.
