The real story behind the revocation of GN Bank license – Dr Nduom tells it all

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PRESIDENT MAHAMA WHILE IN OPPOSITION SAID THERE WILL BE NO POST RETIREMENT CONTRACTS FOR HIS APPOINTEES BUT THERE ARE SO MANY RETIREES WHOSE CONTRACTS HAVE APPOINTMENTS HAVE BEEN EXTENDED 4 days ago

PRESIDENT MAHAMA WHILE IN OPPOSITION SAID THERE WILL BE NO POST RETIREMENT CONTRACTS FOR HIS APPOINTEES BUT THERE ARE SO MANY RETIREES WHOSE CONTRACTS HAVE APPOINTMENTS HAVE BEEN EXTENDED49 minutes ago
PRESIDENT MAHAMA, WHIL ...
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PRESIDENT MAHAMA WHILE IN OPPOSITION SAID THERE WILL BE NO POST RETIREMENT CONTRACTS FOR HIS APPOINTEES BUT THERE ARE SO MANY RETIREES WHOSE CONTRACTS HAVE APPOINTMENTS HAVE BEEN EXTENDED49 minutes ago
PRESIDENT MAHAMA, WHILE IN OPPOSITION SAID THERE WILL BE NO POST RETIREMENT CONTRACTS FOR HIS APPOINTEES BUT THERE ARE SO MANY RETIREES WHOSE CONTRACTS HAVE APPOINTMENTS HAVE BEEN EXTENDED.

It is sickening to see that even the President is going back on his words. He promised there will be no post retirement contracts for his appointees but what do we see. There are so many CEOs state owned organizations in his government who have been granted extension beyond their age of retirement.

Some times you begin to wonder if it all boils down to who brings a lot of kickbacks to the table.

President Mahama, keep your words even if they affect your favourites
Sethoo 4 days ago

My advice to all NDC Followers is they shd close down all their bank accounts and send their monies to GN Bank. Do not be surprised seeing Ibrahim Mahama coming to GN Bank for more loans for his mining expedition.

My advice to all NDC Followers is they shd close down all their bank accounts and send their monies to GN Bank. Do not be surprised seeing Ibrahim Mahama coming to GN Bank for more loans for his mining expedition.
Chioma 4 days ago

That will be a disaster.You & your family can do business
with them.
The Nduom Groupe is pregnant with too many bad corporate governance.

That will be a disaster.You & your family can do business
with them.
The Nduom Groupe is pregnant with too many bad corporate governance.
Papa Kwesi is being economical with the truth 4 days ago

I wish I listened to the whole interview. But with the little I'm reading from this article, I conclude that Nduom is hiding a lot of the facts. How much did the government then owe his clients? What he must know is that that ...
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I wish I listened to the whole interview. But with the little I'm reading from this article, I conclude that Nduom is hiding a lot of the facts. How much did the government then owe his clients? What he must know is that that money belonged to his clients. The BoG didn't owe his bank. Who owe these companies he claims the government owed? Were they linked to his group? What about the millions of clients dollars he illegally transferred to the US? The truth is that the expansion he claimed they did were done with depositors money and that's bad governance. I hope the journalist was bold enough to ask some of these questions to expose him. I knew a lot of people who could not withdraw their own salaries for months. He couldn't even pay his own staff. The banks situation didn't improve when it was downgraded to a savings and loans. If Ghana was any serious country he would have been in jail by now. I get mad when I hear him playing the victim card. I hope the BoG will appeal this ruling. His gold Coast securities was also mismanaged in the same manner. We unknowingly invested GHS 50,000 at the time that entity was dying. Instead of them advising us to send our money away, they took it and just after four weeks we got to know that they were in distress. I think Nduom should shut the up. He's hurt a lot of people already. He should know that depositors' money are not his and that that industry has a regulator.
Stephanie Amponsah 4 days ago

The funds GN Bank lend to contractors as st that time was more than half the capitalization amount needed by the regulator. Those funds were locked up because government has failed to pay contractors. If they have been. Paid ...
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The funds GN Bank lend to contractors as st that time was more than half the capitalization amount needed by the regulator. Those funds were locked up because government has failed to pay contractors. If they have been. Paid and what was lent to contractors would have gone back to GN back to Cushing their re capitalization effort. Why did Bank of Ghana not taking this legitimate factor into account was very fishy.

2. All the fate of over 2000 direct employees with their dependents were not even considered by those whose ultimate solution they knew best was just to have the bank collapsed. It's really sad.

Yes, I agree their corporate governance was a problem but collapsing the bank was not the solution to GN case
THIS SKILLED-SERVICE BUSINESS GUARANTEES DAILY CASHFLOW - LEARN HOW! 4 days ago

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Reap what you sow 4 days ago

Just be thankful to president JDM.
This boy should learn to keep quiet. PERIOD

Just be thankful to president JDM.
This boy should learn to keep quiet. PERIOD
Johnny 4 days ago

Why shd fraudulent banking activities be made political issue? This indirectly is sending the wrong signal to foreign investors.This shows that President John Mahama has control over the judiciary, mind you he sacked his CJ. ...
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Why shd fraudulent banking activities be made political issue? This indirectly is sending the wrong signal to foreign investors.This shows that President John Mahama has control over the judiciary, mind you he sacked his CJ. Dr Mahamudu Bawumia will there4 be justified to sack most of the top rank officials at BoG when he takes over.
Ghanab 4 days ago

Enlighten us on the “fraudulent activities”have there been criminal charges against the” fraudulent activities “,or did the regulator refer of any “fraudulent activities”before taking action ?

Enlighten us on the “fraudulent activities”have there been criminal charges against the” fraudulent activities “,or did the regulator refer of any “fraudulent activities”before taking action ?
Johnny 4 days ago

Why shd fraudulent banking activities be made political issue? This indirectly is sending the wrong signal to foreign investors.This shows that President John Mahama has control over the judiciary, mind you he sacked his CJ. ...
read full comment

Why shd fraudulent banking activities be made political issue? This indirectly is sending the wrong signal to foreign investors.This shows that President John Mahama has control over the judiciary, mind you he sacked his CJ. Dr Mahamudu Bawumia will there4 be justified to sack most of the top rank officials at BoG when he takes over.

Truth Seeker 4 days ago

What activities are you describing as fraudulent? The man said the issues stem from new regulations that required more liquidity to operate as a bank. They thought the met the new requirements but Bank of Ghana had a differe ...
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What activities are you describing as fraudulent? The man said the issues stem from new regulations that required more liquidity to operate as a bank. They thought the met the new requirements but Bank of Ghana had a different opinion.
FACT 4 days ago

The explanation shows the Bank of Ghana was right. Political justification and propaganda by GN Bank. Political affiliation has given GN Bank the license but it won't make the bank viable ooo

The explanation shows the Bank of Ghana was right. Political justification and propaganda by GN Bank. Political affiliation has given GN Bank the license but it won't make the bank viable ooo
Kwame Peter 4 days ago

BoG must demand that Paa Kwesi return the over $62million he transferred to US to acquire an alleged defunct bank,that amount was equivalent to the capital deficit that collapsed GN Bank so why BoG did not demand its return b ...
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BoG must demand that Paa Kwesi return the over $62million he transferred to US to acquire an alleged defunct bank,that amount was equivalent to the capital deficit that collapsed GN Bank so why BoG did not demand its return baffles me becauseit amounted to money laundering,that was what allowed Paa Kwesi to play victim when in fact he was a perpetrator,Ghana is not done with him yet so he should not jubilate.
JACK TORONTO 4 days ago

Kwame, educate us more

Kwame, educate us more
JULOR CAESAR 3 days ago

That acquisition of the bank in Chicago clearly was a ruse to engage in transfers of monies from from Ghana, and thus money laundering. You can't have three hundred branches in Ghana and then be struggling to capitalize your ...
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That acquisition of the bank in Chicago clearly was a ruse to engage in transfers of monies from from Ghana, and thus money laundering. You can't have three hundred branches in Ghana and then be struggling to capitalize your operations.
Kwasi 4 days ago

Gentleman, your arguments are clearly untenable. You took very bad/risky business decisions that led to your predicaments. Don’t blame anyone, but your own insatiable desire for profits at all costs. You spread yourself (bu ...
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Gentleman, your arguments are clearly untenable. You took very bad/risky business decisions that led to your predicaments. Don’t blame anyone, but your own insatiable desire for profits at all costs. You spread yourself (business) too thin that you could not stand the shocks in the market. You were, to state it succinctly, overtrading. That was your own business decision.

Regulatory changes (i.e., BoG rules), competitive forces, consumer/client/customer preferences, economic trends (the Ghanaian economy at the time), etc., are all part of the market dynamics, against which you, like all others, should have braced yourselves. You couldn’t have given a chunk of your loan portfolio to Ghanaian contractors without indemnifying depositors against any economic/political risks, especially in our environment where such risks are very high. Your judgements were poor that led to bad business decisions. Accept that in good faith, and stop gaslighting.

Whatever has inured to your benefit, in this matter, is an unmerited favour. There was a time, before your license was withdrawn, that you could not pay depositors normal withdrawals, including workers monthly salaries/wages. I personally had to bailout some people, whose salaries got locked up with you, just some few days after their salaries had been transmitted to you. What did that failure on your part to honour workers request for part withdrawals of their monthly salaries, which had then just been transmitted to you, got to do with panicked withdrawals, if you were not already totally insolvent? What was the workers role in your bad business decisions and insolvency, for that treatment from you?
kelewele 4 days ago

Nduom the sophisticated thief is back with his family to steal more money from gullible Ghanaians once again. What a joke Ghana is! Corrupt leaders at all levels!

Nduom the sophisticated thief is back with his family to steal more money from gullible Ghanaians once again. What a joke Ghana is! Corrupt leaders at all levels!
Tablonbo Sisinbo 4 days ago

Kotokoli Bawumia should go to Elmina to campaign. Hahahaha

Kotokoli Bawumia should go to Elmina to campaign. Hahahaha
MARY MAVIS GYAMFIWAA 3 days ago

are you on course with your psyche medications?

are you on course with your psyche medications?
MARY MAVIS GYAMFIWAA 3 days ago

Political restoration of a revoked distressed bank license will surely hurt customer confidence. Ghanaians are warned to think twice before doing business with this Nduom's Bank.

Political restoration of a revoked distressed bank license will surely hurt customer confidence. Ghanaians are warned to think twice before doing business with this Nduom's Bank.

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The real story behind the revocation of GN Bank license – Dr Nduom tells it all

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