President and Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom, has asked his employees to remain calm and also be apprised with the facts surrounding the decision by the Bank of Ghana to takeover GN Savings and Loans company.
Dr. Nduom in an address to his staff called on them to remember that the foundation of the company is rooted in the Bible scripture of 2 Timothy 1:7 which says ‘For the Spirit God gave us does not make us timid, but gives us power, love and self-discipline’.
“We will use this spirit and not be timid in the face of some untruths’, he said. To him, the present predicament will quickly be overcome if all staff of Groupe Nduom are seized with the facts and are able to defend and explain the issues better to the good people of Ghana.
Responding to the BoG’s findings the claim by the BoG that GN Savings and Loans transferred depositors’ funds abroad without documentation, Dr. Nduom said that was an untruth and mischievous claim.
According to him, all transfers made were for the procurement of vehicles, raw materials, equipment and other goods and services and paid for by the respective companies.
The Bank of Ghana on 16th August 2019 revoked the licenses of twenty-three (23) savings and loans companies and Finance Houses with GN Savings and Loans among the casualties.