Tag: GN Bank
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Restore GN Savings and Loans license – Former staff urges govt
A group calling itself concerned former employees of defunct GN Savings and Loans Limited is appealing to the Akufo-Addo government to restore the bank’s license to complement efforts in creating sustainable jobs. GN Bank which was under the Groupe Nduom brand lost its operational license after it was reclassified as a Savings and Loans firm…
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PPP takes on BoG Governor over remarks on suit against Dr. Nduom
The Progressive People’s Party (PPP), has taken on the Governor of the Bank of Ghana, Dr. Ernest Addison over some comments he made on the back of a lawsuit brought against the Chief Executive Officer of Groupe Nduom, Dr. Papa Kwesi Nduom by an equity fund and securities investment company based in the United States,…
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GN Bank wasn’t a ponzi scheme – Groupe Nduom replies Finance Minister
Groupe Nduom, owners of defunct GN Bank, has debunked claims that it operated as a ponzi scheme prior to being declared insolvent by the Bank of Ghana. According to them, the Minister of Finance, Ken Ofori-Atta, while speaking in an interview on Accra-based, Asaase Radio on Sunday, July 26, stated that “When we got into…
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High Court gives BoG, AG and receiver 10-days to respond to GN Savings’ suit
The Bank of Ghana, the Attorney-General and the Receiver of defunct GN Saving and Loans, have been given ten days by the High Court to file their response to the suit challenging the revocation of the company’s license. The court gave the order following the failure of the three defendants in the matter to file…
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CBG pays over 400 customers of GN Bank in Western North Region
Over 400 customers of the defunct GN Bank have so far received their locked up funds at the Sefwi- Asawinso branch of the Consolidated Bank Ghana (CBG). Mr. Bretuoba Asafo Akowuah, Sefwi- Asawinso branch Manager of the CBG Bank who confirmed the development said customers received text messages on their phones giving them new account…
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Nduom takes on government in court to retrieve GHS2.2 billion
Ghana Growth Fund, a subsidiary of Groupe Ndoum, has commenced a number of legal suits against the Finance Ministry as well as other ministries, in a last-ditch attempt to retrieve over GHS2.2 billion owed to the company. The embattled company in its first three separate suits is chasing the Finance and Roads and Highways ministries…
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Panic withdrawals: Don’t be anxious of capital flight – Nana Otuo
Banking Consultant, Nana Otuo Acheampong has downplayed effects of the ongoing panic withdrawals that have hit local banks. It follows fears that the situation could lead to capital flights which will distort economic growth considering the magnitude of withdrawals that may be involved. The uncontrolled withdrawals embarked on by customers of banks and specialized deposit…
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Dr. Nduom leads campaign to stop panic withdrawals
Following recent developments of panic withdrawals within the financial sector, the Chairman of GN Bank, Dr. Papa Kwesi Nduom will lead a team of bank officials to begin a tour of the ten regions on Wednesday 3rd October with the theme “STOP THE PANIC WITHDRAWALS AND STRENGHTEN OUR INDIGENOUS BANKS”. The team will use the…
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Nduom blames botched merger on breach of confidentiality
CEO of GN Group of companies, Dr Papa Kwesi Nduom has stated that the reason for pulling out of an initial merger that was supposed to take place between GN Bank, Sahel Sahara and Premium Bank was due to lack of confidentiality from one of the banks. In July, reports stated that the three banks…