The owner of GN Bank, Dr Papa Kwesi Nduom has made a passionate appeal to Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), to reconsider the revocation of his banking licence and restore his assets, citing new evidence that warrants a review of the decision. The bank’s license was initially revoked due to insolvency issues, but Dr. Nduom is urging the BoG to reexamine the situation in light of fresh facts.
In his appeal, Dr. Nduom implored the Governor of the Bank of Ghana to preserve the assets of GN Bank in a state of good repair, as the bank is poised to recommence operations, suggesting that the assets remain valuable and could be revitalized if the bank’s licence is reinstated, emphasizing the potential for a successful revival of the bank’s operations.
In a video posted on his facebook page on Sunday, June 23, Dr. Paa Kwesi Nduom vehemently contested the Bank of Ghana’s (BoG) claim that GN Bank was undercapitalized, strongly refuting the assertion and implying that the bank’s financial situation was not as dire as the BoG had suggested.
Dr. Nduom urged Governor Ernest Addison to reevaluate the evidence presented in the 2019 GN Savings and Loans transition report, which contradicts the Bank of Ghana’s claims of insufficient capital adequacy, showing that the bank actually had adequate funds in its accounts at the time, and requesting a reassessment of the situation based on this new information.
“So, when people ask what do you want? All that we’re saying is that recognise that indeed there was more money there, than was said to be just proof. Recognise the proof. Someone has said somewhere that give me new facts and I will change my mind. We have given and continue to give new facts to the BoG.All that we’re asking the Governor, Dr. Addison is to take a look at the new facts, recognise them for what they are and give us back our licence, give us back our assets. Make sure the assets are in good condition, and let’s move on,” he said.