The Global Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has alleged that the Central Bank of Ghana intentionally misrepresented the debt value of his now-defunct GN Bank to facilitate its closure.
Dr. Nduom disclosed that a debt of 2.2 billion Ghana cedis was falsely reduced and recorded as 30 million Ghana cedis to portray the bank as unstable and at systemic risk.
The Group Chairman made these statements during an inspection of a former GN Bank office at Roman Hill in Kumasi.
He also stressed that his bank was unfairly shut down.
“People who said we only have about 30 million cedis, I know they did it deliberately because the same people, a year before, said they counted 640 million Ghana cedis.
“Meanwhile, they have seen a report by an independent auditor, which confirmed that the value of our project was 2.2 billion Ghana cedis. And so why did they use this to collapse the GN bank?” Dr Nduom asked, according to a report by myjoyonline.com.
Despite the bank’s accusations and legal challenges contesting the Bank of Ghana’s (BoG) decision to revoke its banking license, an Accra High Court affirmed the BoG’s action.
The court found that the BoG had not violated any laws.
Nevertheless, Dr. Nduom asserts that the shareholders and stakeholders of GN Bank will persist in their pursuit of justice.
“People were happy saving with us and the business was thriving. We are just sending a message because we have done things closed door and are not getting the results.
“We have to do this before Akufo-Addo leaves office and we want any government that may take over to know that, there is an outstanding matter to be resolved,” he said.