Some employees of BCM said that the company does not have the financial capital to run it and was owing them and there is a legal battle among some top shareholders.
It is a mining company which entered into concession agreement few years ago to carry out mining activities in some parts of the county.
"That is the reason they have shut down. Also, they have financial issues. It is not due to COVID19 health matter," one source close to the company said.
"The company was once known as Jonah Capital owned largely by Sam Jonah from Ghana. But BCM took over because they got large shares into it. Now, they have some financial issues,' a source close to the company told this paper Thursday.
"But more to that, there are some legal matters ongoing now between the former head and that of the lady, Mrs. Angela List who came to take over. They should be in ECOWAS court or one of the courts in the region," the source.
But a press release issued Thursday dismissed media reports that it was indebted to its employees. It said, they have settled all liabilities before they shut own.
When contacted an officer on the highway, he failed to comment.