'We're taking orders from court' – Dr Nduom on reviving GN Savings and Loans

Founder of GN Savings and Loans, Dr Papa Kwesi Nduom says the institution’s immediate priority is to secure the restoration of its operating licence from the Bank of Ghana, rehabilitate its branch infrastructure, and resume full banking operations.

In a post shared on his Facebook page on June 21, 2026, he stated that the institution is also committed to maintaining a professional and constructive relationship with the central bank as part of its return to operations.

“For the avoidance of doubt: our objective is to get our licence restored by BoG, fix our branch buildings and re-start banking operations. We aim to establish a productive and professional relationship with our regulator, BoG in the process,” Dr Nduom wrote.

He further explained that Groupe Nduom is acting in line with directives from the Court of Appeal, particularly the use of the word “immediately,” and is moving to comply fully with the ruling while respecting all legal processes.

“So, we are taking instructions from the orders given by the Court of Appeal particularly the word used, ‘immediately’. The way forward for Groupe Nduom is to implement the orders of the Court of Appeal with discipline and enthusiasm while observing at all times any legal rights or constraints put on us by the judiciary system. So, we have started work in earnest to prepare to re-open GN Savings,” he added.

His comments come after GN Savings and Loans cleared another significant legal hurdle in its bid to resume operations, following the Court of Appeal’s decision to strike out a Motion for Stay of Execution filed by the Receiver.

The ruling, delivered on Tuesday, June 16, 2026, removed a major legal obstacle that had previously threatened to delay the enforcement of an earlier Court of Appeal judgment ordering the restoration of the company’s licence and the return of its assets and management control.

Receiver's stay application struck out in GN Savings and Loans case

Speaking after the ruling, lead counsel for Groupe Nduom, Cletus Alengah, described the decision as a major milestone in efforts to restore the institution.

He said the ruling places GN Savings and Loans firmly on the path toward resuming public operations, adding that the company will continue engaging relevant stakeholders to ensure a smooth and orderly transition of assets as reopening preparations intensify.

See the post below :

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