Reggae dancehall act, Stonebwoy, says he should have acted with due diligence in his “advocacy”for Sidicoin, a Non-Fungible Token (NFT).
The bank of Ghana BoG statement comes after some aggrieved Menzgold customers petitioned relevant authorities to stop Stonebwoy from leading people into what may be another scandalous financial investment similar to the Menzgold brouhaha.
The statement, issued on April 27, 2022, and signed by the BoG secretary, Sandra Thompson, said “neither this investment scheme nor the Promoters of the company have obtained the approval of Bank of Ghana, to operate in the banking and payment services sector.”
In a statement Stonebwoy shared on his Twitter account, he said his eagerness to introduce what he has been learning on emerging technologies to the public was the reason he was advocating for Sidicoin.
“In hindsight, I should have hastened slowly but I blame over-enthusiasm for all the interesting things I am discovering about the adoption of these disruptive technologies.”
The award-winning musician declared that he is not an agent or a representative of Sidicoin.
“For the avoidance of doubt, I am not an ambassador for Sidicon. I am not associated with the product nor have l been rewarded to promote it. The developing world of NFT, Web3.O, the met-averse, and digital/crypto-assets and their ability to change people’s financial fortunes has caught my attention in recent times and I simply thought I was sharing a Ghanaian version I had discovered for people who are as interested as l am to join me on my learning path.
Stonebwoy, therefore, urged anyone who might have been swayed by his keenness to adhere to the caution of the Bank of Ghana.
“May we all do as the Bank of Ghana says and exercise caution even as we strive to do better for ourselves and our communities?”
Story by: ObaaPa Jane
