Dr Paa Kwesi Nduom Increases Calls for Restoration of his Bank’s License

dr paa kwesi nduom increases calls for restoration of his bank’s license

Owner of the defunct bank GN bank, Dr Paa Kwesi Nduom has increased calls for the restoration of his banking license as he calls on the  Bank of Ghana governor, Dr Ernest Addison.

The embattled founder of GN Bank has recently gone public with demands of reinstatement of his banking license following the collapse of banks and financial institutions in the country by the government.

Paa Kwesi Nduom also in a viral video on social media alleged that the former finance minister had orchestrated the revocation of his banking license calling it a witch hunt.

Ghanaians have weighed in their thoughts on the matter as many say GN Bank is owed colossal sums by government and payment of these monies could have saved the bank during its financial crisis.

Remarks by Dr Paa Kwesi Nduom

So, when people ask what do you what? 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.
Even in the reclassifying state as a savings and loans company, we are prepared to start working. And we know once all the accounting is done, once the funds start coming in, everybody will realise that the 305-branch network of GN Savings will deserve to become a universal bank-GN Bank again. That is it.

What we are looking for is to go back and put thousands of people back to work and 100s of branches, so that financial inclusion can resume.
For a savings and loans company, what you need is GHC15 million, that’s all. Even the GHC30.3 million that the finance ministry erroneously told the BoG, that Group Nduom companies had, Even if we took that money, and paid it, which still they haven’t paid. If they paid us and we paid into GN Savings, That would have been able to give us the capital required to continue on our savings and loans. But we said in our books, GHC2 million.
In addition, we had properties and other related buildings including the many branch buildings put up by some of our companies. We said we would give it to the organisation to shore its capital.
It was all rejected, and these are the same buildings that BoG’s appointed receiver went around hurriedly to put locks in the gates and buildings and walked away. Left them to rot, all of those things still there.

VIDEO: Dr Paa Kwesi Nduom Blames Finance Minister for Revocation of License

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