Reinstate GN Bank or suffer consequences thereof - Elmina residents to government

A group calling itself “concerned residents of the Komenda-Edina-Eguafo-Abrem (KEEA)” Municipality in the Central Region staged a protest in Elmina, urging the government to reinstate the license of the defunct GN Bank.

The Bank of Ghana revoked the license of GN Bank, citing the bank’s inability to meet its financial obligations to customers, a claim contested by the concerned residents as unfounded and unsubstantiated.

The residents praised Dr. Papa Kwesi Nduom, the Chairman of Group Nduom (GN), for his remarkable entrepreneurial expertise, which they regarded as a divine gift worthy of safeguarding and backing.

The concerned residents accused the government of deliberately stifling the innovative spirit of patriotic citizens, thereby exacerbating the country’s debilitating unemployment, poverty, crime, disease, deprivation, and perpetual stagnation.

Dr. Nduom has established a plethora of enterprises in the area, including manufacturing, industrial printing, electronic assembly, quarrying, concrete production, primary and tertiary education, sports and entertainment, as well as hotel and hospitality services.

This has not only generated numerous employment opportunities but has also fostered the growth of local businesses, offering a source of recreation and joy after a hard day’s toil.

Amidst the resounding chants of “Dr. Nduom, our esteemed and distinguished magnate,” the inhabitants paraded peacefully along the main thoroughfares, bearing luminous lanterns.

Their cries of anguish over the severe economic hardship and widespread joblessness garnered widespread praise from onlookers, with drivers honking their horns in solidarity.

Clad in crimson and ebony hues, the group carried banners and placards with messages such as: “Reinstate GN Savings’ License,” “Honor Nduom’s Financial Obligations,” “Divine Intervention is on Our Side,” “GN Remains Financially Stable,” “Cease Targeting Nduom,” and “Nduom is Our Benefactor.”

A grand banner bearing a proverbial inscription: “While any sculptor may excel in working with fine wood, it requires true mastery to craft something extraordinary from twisted and unruly timber” was raised in the town.

“It is our solemn duty to safeguard and uphold the majestic legacy of this tree in Elmina, Dr. Nduom,” one of the residents insisted.

Drawing historical parallels to Dr. Nduom’s situation, Ofarnyi John Quayson, also known as Maanoma, a prominent fisherman in Elmina, recounted the alleged unjust treatment meted out to one Mr. Mpili Mensa, an esteemed entrepreneur from Elmina in 1874, who was maltreated by the Colonial Administration, which resulted in severe consequences.

He lamented the animosity and destructive actions towards Dr. Nduom and his enterprises by the current government, echoing the injustices of the past.

Mr. Quayson urged the government to settle the GH₵2.2 billion debt the government allegedly owed Dr. Nduom.

He criticized the government for denying support to GN Bank, as well as the prolonged validation process for the debt owed to it, labeling it as “disheartening.”

The shutting down of GN Bank led to the layoffs of more than 4,000 employees.

They are now unemployed and enduring hardships alongside their families.