Nduom Demands GH¢7.1bn From Govt For ‘Collapsing’ GN Bank

Dr Papa Kwesi Nduom

 

Dr. Papa Kwesi Nduom, the embattled founder of Groupe Nduom, has intensified his battle with the state, claiming a staggering GH¢7.1 billion debt, including accrued interest.

This latest development follows a long-standing dispute between Nduom and the government, which dates back to 2019 when the Bank of Ghana (BoG) revoked the license of GN Bank, citing regulatory breaches.

At a press briefing in Accra, Nduom revealed plans to temporarily halt his “Bring Back GN Bank” campaign in September to embark on a nationwide tour of the bank’s 300 branches.

His move aims to mobilize support from petitioners advocating for the reinstatement of GN Bank’s license.
Revocation of Kwesi Nduom’s bsnk was self inflicted as he was engaged several regulatory breaches including money laundry, according to Bank of Ghana report.

However, the BoG maintains its stance, defending its decision to revoke GN Bank’s license due to significant regulatory breaches.

The Central Bank argued that GN Bank’s failure to meet critical financial regulations and banking standards jeopardized its operational stability, leaving it with no choice but to revoke the license.

Despite this setback, Nduom remains resolute in his quest to revive GN Bank, vowing to resume his campaign in November after a period of strategic reflection and planning.

BY Daniel Bampoe

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