Revoking my licence gave me health problems — Dr Nduom

Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has disclosed how the revocation of his licence to operate GN bank jeopardized his health.

Narrating his ordeal, Dr Nduom said August 16, 2020, would forever remain “a day of infamy, treachery and robbery of the rights and assets of indigenous Ghanaian entrepreneurship”.

In an interview from his base in America and reported by Graphiconline, Papa Kwesi Ndoum said he shared in the pain of a number of businesses and families who also suffered the same fate.

“I have felt the pain of customers caught in the engineered liquidity crisis. It cost me my health but I have an unshakable belief that while there is judgment here on earth, we will all have to give account to the Higher Judge above one day. What is covered by darkness, documents hidden, plans hatched behind closed doors to make others suffer will come to light”. He emphasized.

He added, for one full year, he had taken numerous opportunities to state the case of GN Savings in public.

“I have sent numerous petitions to state and traditional authorities. I took the advice of many of them to appeal to the Human Rights Division of the High Court in Ghana to seek the restoration of the rights which were wrongfully taken away from me on that day by the BoG. While the matter is still in court, I will continue to stay away from the substantive matter,” he stated.

Dr Nduom wondered why some individuals were so eager to cast more aspersions on shareholders and directors of these affected companies.

“Why are many Ghanaians so quick to rejoice and are willing to inflict more damage when they perceive that someone is down?” he asked.

Bank of Ghana last year transformed GN Bnak into a savings and loans company as a result of what they described as its innability to resolve its liquidity issues.

A statement issued by the BoG said the revocation of the bank's license had become necessary because they were insolvent, even after a reasonable period within which the bank had engaged with them in hopes that they would be recapitalised by their shareholders to return them to solvency.