Dr Papa Kwesi Nduom, the Global Chairman of Groupe Nduom, has claimed that the debt worth of his defunct GN Bank was purposely portrayed as low in order to cause the bank’s closure.
The businessman and politician alleged that a debt of 2.2 billion cedis was recorded as 30 million Ghana cedis, making the bank unstable and vulnerable to systemic risk.
This, he said, affected at least one million GN Bank customers.
Dr. Papa Kwesi Nduom made the statements during an inspection of the former GN Bank office on Roman Hill in Kumasi.
The office is currently used by a Chinese retailer who deals in curtain and bed material.
“People who said we only have about 30 million cedis, I know they did it deliberately because the same people, a year before said they counted 640 million Ghana cedis.
“Meanwhile, they have seen a report by an independent auditor, which confirmed that the value of our project was 2.2 billion Ghana cedis. And so why did they use this to collapse the GN bank?” he asked.
He also affirmed that shareholders and stakeholders of GN Bank will not relent but pursue justice.
“People were happy saving with us and the business was thriving. We are just sending a message because we have done things closed door and are not getting the results.
“We have to do this before Akufo-Addo leaves office and we want any government that may take over to know that, there is an outstanding matter to be resolved,” he said.
The Bank of Ghana revoked the licenses of 23 savings and loans companies and financial institutions which included the GN Bank.
The central bank attributed the action to non-compliance and regulatory breaches n the part of the affected banks.
By: Rainbowradioonline.com/Ghana
