Restore and upgrade GN Savings’ license – Groupe Nduom to BoG

Groupe Nduom has disputed the Bank of Ghana's (BoG) justification for revoking GN Savings' license in August 2019.

BoG maintains the revocation was due to GN Bank's significant regulatory breaches, including inadequate capital, liquidity, governance, and risk management.

However, Groupe Nduom claims the insolvency declaration was based on "wildly inaccurate" information, asserting GN Savings had more funds than BoG acknowledged. They argue that if the Ghanaian government paid its GHS7.1 billion debt to Groupe Nduom companies, GN Savings would have sufficient capital to operate as a universal bank.

The group is seeking justice through legal channels and has petitioned top government officials.

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