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Business News of Friday, 22 May 2020


Reject BoG, Receiver’s evidence against GN Savings – Nduom to court

Dr Papa Kwesi Nduom, businessman Dr Papa Kwesi Nduom, businessman

Lawyers of businessman, Dr Papa Kwesi Nduom have asked the court to reject the evidence provided by the Bank of Ghana and the Receiver in the case involving the GN Savings and Loans

The defendants presented evidence to the court to cement the decision to revoke the license of GN Savings and Loans.

But Lawyers for Dr Nduom told the court some documents filed by the defendants such as their affidavits which contain their averments were not signed by the appropriate people.

Justice Srem Sai Lawyer for Dr Nduom also raised concerns with some documents which he says pertains to GN Bank and not the savings and loans company.

Dr. Nduom insisted that GN Savings and Loans was in good standing despite being declared insolvent by the central bank.

He said the government infrastructure project portfolio was in excess of GHS2.2 billion, more than the company’s liabilities.