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Business News Sat, 31 Aug 2019

'We don't owe GN Bank; apologize to us' - Mablay and Sons Company to Nduom

The Director of Mablay and Sons company limited has categorically stated that the company doesn't owe GN Bank or any financial institution belonging to Dr. Papa Kwesi Nduom.

Dr. Nduom in a statement copied to graphic online on Thursday, August 29, 2019, listed over four thousand (4,000) companies, individuals and schools owing him and in the tall list, Mablay and Sons company was tagged with an amount of GHC1,969,999.15.

Mablay and Sons company limited is owned by the Second Regional Vice-Chairman of governing New Patriotic Party (NPP) in Western Region, Mr. Ishmael Evonlah Whajah.

In a statement issued and signed by the Director, he said: "The Directors of Mablay & Sons would like to further state categorically that they are not indebted to GN Bank, neither are they indebted to GN Savings and Loans nor any of Dr Ndoum's defunct financial institutions of any amount of money".

The statement declared that "The said amount that appeared on his list of indebtedness was settled in full in 2017 and in full glaring of his eyes".

It emphasized that Dr. Ndoum ".. sought to unveil a list of companies, individuals and schools owing GN Savings and loans through the Gold Coast Fund Management of which on the said list Number 43, enlisted Mablay & Sons Company as owing an amount of Ghs 1,969,999.15.

This, has been described as false, mischievous, a calculated attempt to mislead the BoG and Ghanaians on the real issues which led to the withdrawal of his banking license and the consequent closure of his GN Bank and Savings and Loans.

The statement issued has therefore given Dr. Ndoum 48 hours to retract and expunge Mablay and Sons company limited's name from the list and apologize.

The statement stressed that failure to do so, would force the company to seek legal redress for the infractions caused to the corporate image of the company.

It further concluded that "This is just an attempt by Dr Ndoum to push the truth about the dealings of his defunct financial institutions too far".

Below is the full statement

REJOINDER: 'Nduom releases list of over 4200 companies, individuals, and schools owing him GHs 434 m'

The Directors of Mablay & Sons Company Limited rejects in the strongest terms a publication captioned 'Nduom releases list of over 4200 companies, individuals, and schools owing him GHs 434 m', and authored by Dr Papa Kwesi Nduom on the 29/08/2019 on Graphic Online and Ghanaweb, which sought to unveil a list of companies, individuals and school owing the GN Savings and loans through the Gold Coast Fund Management of which on the said list Number 43, enlist Mablay & Sons Company as owing an amount of Ghs 1,969,999.15 as false, mischievous, a calculated attempt to mislead the BoG and Ghanaians on the real issues which led to the withdrawal of his banking license and the consequent closure of his GN Bank and Savings and Loans. Perhaps, this is his last gasp to use our company hard-won reputation to garner public sympathy.

The Directors of Mablay & Sons would like to further state categorically that they are not indebted to GN Bank neither are they indebted to GN Savings and Loans nor any of Dr Nduom's defunct financial institutions of any amount of money. The said amount that appeared on his list of indebtedness was settled in full in 2017 and in full glaring of his eyes.

Has Dr Nduom forgotten shortly the amount of pressure he mounted on the company before redeeming the facility and the pain it caused our company. Enough of the double counting is enough!

By rejecting the publication in the strongest terms, we politely advise Dr Nduom to retract and expunge Mablay& Sons name from the list and apologize to the company within 48 hours else our company will seek legal redress for the infractions caused to the corporate image of our company. This is just an attempt by Dr Nduom to push the truth about the dealings of his defunct financial institutions too far.

Enough is enough!

Ishmael Evonlah Whajah

Director, Mablay & Sons Co. Ltd

Source: Daniel Kaku
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