I’m not an ambassador for Sidicoin – Stonebwoy denies

Ghanaian dancehall artiste Stonebwoy has dissociated himself from cryptocurrency investment scheme, Sidicoin.

The dancehall artiste, has been criticised in recent times for endorsing the new investment scheme, with some calling for his arrest.

According to the dancehall artiste, he is not a brand ambassador for the yet-to-be launched investment scheme.

In a statement by the dancehall artiste, the Putuu maker said: “For the avoidance of doubt, I am not an ambassador for Sidicoin, I am not associated with the product nor have I been rewarded to promote it.”

The dancehall artiste indicated that: “My advocacy was for people to join a club for us to learn further information on how to not be left out of the new global order, not to encourage people to invest in a financial scheme of any sort.”

He added: “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.”

Media Personality Bridget Otoo recently clashed with Stonebwoy on social media over their divergent views on the new investment scheme, SidiCoinNFT.

This followed a tweet by the dancehall artiste, introducing a non-fungible token (NFT) SidiCoinNFT to his followers.

According to the dancehall artiste, SidiCoin will aid hardworking individuals to make more money.

Reacting to the dancehall artiste’s endorsement of the new investment scheme, the TV personality tweeted: “You are part of the ambassadors of Menzgold who championed and led customers to lose money.

“Some have died as a results of the Menzgold scam. Do you think it is fair to introduce them to another “money making venture”? Do you really care about them?”

The dancehall artiste, however, disagreed with the TV personality stating in another tweet that: “Big Sis, I think it’s very BIASED and PREJUDICED to pin the loss of lives and properties on ambassadors WHO in NO WAY RAN the said company.

“I know people who have lost monies and others who gained and I have personally lost very close relatives too..”

Meanwhile, the Bank of Ghana (BoG) has cautioned the general public against patronising the cryptocurrency investment scheme, as it has not been approved by the central bank.

“The public is hereby cautioned that 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,” the BoG noted in a statement issued on Wednesday, 27 April 2022.

It continued that “further to previous notices issued by Bank of Ghana on such schemes, in particular Notice NO. BG/GOV/SEC/2018/02, Bank of Ghana underscores the fact that such schemes are not registered under any law in Ghana.

The central bank advised the general public “to exercise caution with regards to trading in cryptocurrencies and other unregulated investment schemes.”

It also cautioned “all regulated institutions including banks, specialised depost-taking institutions, dedicated electronic money issuers and payment service providers to desist from facilitating cryptocurrency transactions and unlicensed investment schemes, through their platforms or agent outlets.”