Nduom sues Bank of Ghana for ‘collapsing’ GN Savings and Loans

Groupe Nduom (GN) has sued the Bank of Ghana (BoG) over the revocation of the licence of GN Savings and Loans Company Limited.

BoG on August 16 revoked the licence 23 savings and loans companies, including GN Savings and Loans, for being insolvent, but the chairman of the GN group, Dr Papa Kwesi Nduom, immediately rejected the central bank’s claim.

But the central bank has maintained its decision in revoking the licence of the GN Savings and Loans company, which until January 4, was a licenced universal commercial bank. It was downgraded after it failed to meet the 400 million-cedi minimum capital

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By 3news.com|Ghana

The post Nduom sues Bank of Ghana for ‘collapsing’ GN Savings and Loans appeared first on 3news.

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