Groupe Nduom, owners of GN Bank is heading to court to challenge the decision of the Bank of Ghana (BoG) to withdraw the license of the Bank.
GhanaNewsPage.Com reported on Friday (August, 16, 2019) revoked the licences of GN Savings and Loans and 22 other insolvent savings and loans companies and finance house companies.
According to the BoG, GN Savings and Loans, despite its reclassification from a universal bank to a savings and loans company in January this year, the company was unable to resolve its liquidity crisis.
But Dr Nduom in a statement said “the statements regarding GN Savings are wildly inaccurate.”
“Given the detailed information provided to the BoG nearly a year ago, these statements are inconsistent with our discussions with both the BoG and the Ministry of Finance (MoF). We are aware that the MoF has previously confirmed that balances due to GN Savings and other related parties are far in excess of the amounts quoted in the communication from the BoG,” Dr Nduom said in a statement issued a few hours after the BoG’s announcement through a press statement.
Commenting further on this, Vice President of Gruope Nduom, Nana Ofori Owusu hinted that the entity is considering heading to court over the matter.
“The idea of going to court is discussed with the legal team and there is going to be a press conference to communicate the decision…,” he said on Peace FM on Monday monitored by GhanaNewsPage.Com.
He claimed further that the decision of the BoG to close down the GN Bank was not the best arguing that GN Bank never transferred money to US to purchase a new Bank.
Source: Ghana | GhanaNewsPage.Com | KWAKU NTI