Businessman Dr Papa Kwesi Nduom has reacted to the Court of Appeal’s decision to restore the licence of GN Savings and Loans Company Limited after years of legal battle.

The Court of Appeal, in a unanimous decision on Thursday, May 21, 2026, quashed the earlier High Court ruling which had upheld the revocation of the company’s licence during the banking sector clean-up exercise.

Papa Kwesi Nduom rebuts reports BoG has ruled out GN Bank license restoration

Speaking after the judgment in a video shared by TV3, Dr Nduom described the past seven years as painful and difficult for him, as well as for workers and customers connected to the business.

“Well, it’s been a very difficult seven years… We give thanks to Almighty for keeping us healthy enough to be where we are because this has been a very tough, very difficult time that we have gone through. It’s just unimaginable,” he said.

Dr Nduom linked the court victory to what he described as a changing political environment in the country.

“What I want to say also is that we are in a very good political environment. That environment has brought about a wind of change,” he indicated.

According to him, the restoration of the licence presents an opportunity for the company to return to business and contribute to the country’s development.

“We are expecting that, with the licence restored, we will now play our part in making sure that this country achieves a level of prosperity that is needed,” he noted.

He further spoke about the impact the revocation had on individuals connected to the company, saying some people lost their livelihoods while others suffered major financial losses.

“Some people have died. Some have lost their jobs. Assets have been destroyed. Many things will not get back,” he said.

Despite the setbacks, Dr Nduom assured customers and supporters that the company would rebuild and return stronger.

GN Savings and Loans license restored

“What we promise is that we will restore this company. We will restore our business and we will make certain that our second coming is even better than the first one,” he added.

"We are expecting that with our licences restored, we will now play our part making sure this country achieves the level of prosperity that’s needed.”

- Dr Papa Kwesi Nduom, owner of GN Bank, speaks after the Court of Appeal unanimously quashed the High Court's decision which… pic.twitter.com/mgdBTiy6e1

— #TV3GH (@tv3_ghana) May 21, 2026