The owner of the defunct GN Bank, Dr. Kwesi Nduom, has urged Dr. Ernest Addison, the Governor of the Bank of Ghana, to restore the bank’s license and all its assets, which were revoked due to insolvency.
The Bank of Ghana initiated measures in 2018 to consolidate the banking sector, leading to the revocation of licenses of several banks and investment institutions, including GN Bank.
In a Facebook post on Sunday, June 23, 2024, Dr. Paa Kwesi Nduom contested the Bank of Ghana’s assertion that GN Bank lacked adequate capital.
He called on the Governor of Bank of Ghana Dr. Ernest Addison to review the findings of the 2019 GN Savings and Loans transition report, which reportedly showed sufficient funds in the bank’s accounts contrary to the claims of insufficient funds made by the Bank of Ghana.
“We have presented and continue to present new evidence to the Bank of Ghana. Our request to Governor Dr. Ernest Addison is to review these facts objectively and return our license,” Dr. Nduom stated.
He also emphasized that the reinstatement of GN Bank’s license and assets would create job opportunities for many people across the country.
“We are prepared to resume operations, confident that with proper accounting and debt recovery, everyone will recognize GN Savings’ capability to reclaim its status as GN Bank,” he concluded.
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Source: Crystal Omeche Doku/ATLFMNEWS
