GN Savings and Loans was insolvent prior to license revocation – BoG

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Seidu 1 year ago

This so-called report was discredited way back in 2019 and the matter landed in court and is still there. Why have they resurrected it? It is because Nduom's national campaign is biting them. The politicians who know the t ...
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This so-called report was discredited way back in 2019 and the matter landed in court and is still there. Why have they resurrected it? It is because Nduom's national campaign is biting them. The politicians who know the truth won't and can't talk. So now the so-called independent Bank of Ghana is attempting to bail them out. O Ghana!
John 1 year ago

When was it discredited? And if it was discredited how about the Human Rights Court, where GN Bank contested the right of authority of the Central Bank to revoke its license, ruling that BoG acted in in accordance with the L ...
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When was it discredited? And if it was discredited how about the Human Rights Court, where GN Bank contested the right of authority of the Central Bank to revoke its license, ruling that BoG acted in in accordance with the Law. Why is Kwesi Nduom not appealing the ruling but seeking the court of public opinion? What sort of prople are we? Ours is a country where we disbelieve official account in favour of what affected persons say.
Seidu 1 year ago

Ask your paymaster, political governor Addison. He knows Ofori-Atta made him put those allegations against GN Bank because of Dr. Nduom.

Ask your paymaster, political governor Addison. He knows Ofori-Atta made him put those allegations against GN Bank because of Dr. Nduom.
Yaaaa 1 year ago

Wo y3 aboa paaaaa. Aboa b3kye wo awe wai

Wo y3 aboa paaaaa. Aboa b3kye wo awe wai
Yaaaa 1 year ago

Foooooool. You think a regulator will put his or her integrity and legal responsibility on the line and write a FAKE detailed report that touches on all aspects of GN's balance sheet and viilations? All the issues raised are ...
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Foooooool. You think a regulator will put his or her integrity and legal responsibility on the line and write a FAKE detailed report that touches on all aspects of GN's balance sheet and viilations? All the issues raised are consistent with one another.
Go speak to the external auditors and read the last management letter on GN. . Go and look at the last Financial Statements and the KPMG opinion on GN. You go shoch. Use your sense small. Pls publish the Audit opinion and Mgt letter on GN
Seth, Kumasi 1 year ago

Why didn't government pay contractors so contractors repay GN bank the loans they owe the bank. Wickedness

Why didn't government pay contractors so contractors repay GN bank the loans they owe the bank. Wickedness
John 1 year ago

Please re-read the report. It says GN Bank came by those liabilities NOT through direct transactional involvement, meaning GN Bank on its went buying those liabilities on its own to make money through discounting the face val ...
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Please re-read the report. It says GN Bank came by those liabilities NOT through direct transactional involvement, meaning GN Bank on its went buying those liabilities on its own to make money through discounting the face values of those interim payment certificates. Who asked GN Bank to mop up government's debt to contractors? Even then only 30.3 million out of 107.0 million of those so called payments were in the Ministry of Finance records, and that taken into consideration DID NOT make GN Bank capital ratio any better. Let's learn to be educated
Seidu 1 year ago

You don't know the facts. The political governor knows that management of GN Bank were ready to assign the contracts to BOG and BOG wanted them because the governor as a cocobod director knew the indebtedness.

You don't know the facts. The political governor knows that management of GN Bank were ready to assign the contracts to BOG and BOG wanted them because the governor as a cocobod director knew the indebtedness.
Yaaaa 1 year ago

BOG wanted the IPCs? Wo y3 aboaaaaa paa? Central bank to hold gvt IPCs as receivables? Ofuiiiiiii. Nkwaseas3m b3n ni. Note that, Nduom has NEVER said his institution was not insolvent. Any regulator from Central bank of Niger ...
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BOG wanted the IPCs? Wo y3 aboaaaaa paa? Central bank to hold gvt IPCs as receivables? Ofuiiiiiii. Nkwaseas3m b3n ni. Note that, Nduom has NEVER said his institution was not insolvent. Any regulator from Central bank of Nigeria, Fed, Togo, Baukinafaso, Sudan, Canada would have concluded that the institution was deeply insolvent. His issue is human right not insolvency
hajj oluu 1 year ago

hmmm...this absolute nonsense why didnt the bank of ghana pay the contractors for them to also repay the banks the loans they took...i think all this was politically motivated..

hmmm...this absolute nonsense why didnt the bank of ghana pay the contractors for them to also repay the banks the loans they took...i think all this was politically motivated..
John 1 year ago

The BoG is a regulator and not a universal Bank. It's the Ministry of Finance that should pay if all of the 107.0 million being claimed by GN Bank could be supported properly with the requisite documentation. In the report on ...
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The BoG is a regulator and not a universal Bank. It's the Ministry of Finance that should pay if all of the 107.0 million being claimed by GN Bank could be supported properly with the requisite documentation. In the report only 30.3 million was acknowledged as debt by the Ministry of Finance, and if even taken into account didn't make a difference to the over 700 million working capital shortfall required by GN S&L to retain its license.
Seidu 1 year ago

Get your facts straight. You are relying on the discredited BOG report. GN is seeking more than 7.1 billion from GOG and its agencies. Where did the 30 million come from?

Get your facts straight. You are relying on the discredited BOG report. GN is seeking more than 7.1 billion from GOG and its agencies. Where did the 30 million come from?
Our Homeland 1 year ago

John, make good use of that brain GOD put in your head and stop this tunnel argument. There are banks and other certified financial institutions who are insolvent in this country yet they still operating. One typical example ...
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John, make good use of that brain GOD put in your head and stop this tunnel argument. There are banks and other certified financial institutions who are insolvent in this country yet they still operating. One typical example is SIC savings and loans which is owing customer hundreds of millions of cedis and at this point can’t even service the salaries of its own employees. Always base your arguments on facts and figures and not abstracts
John 1 year ago

Homeland, thank you for your insults. I leave you to stew in your ignorance and illiteracy

Homeland, thank you for your insults. I leave you to stew in your ignorance and illiteracy
Yaaaa 1 year ago

U sabi book. I guess you attended Presec. They don't even understand Gvt financial system and the role of BOG. Someone was saying BOG should have paid Nduom. Illiterate talk.

U sabi book. I guess you attended Presec. They don't even understand Gvt financial system and the role of BOG. Someone was saying BOG should have paid Nduom. Illiterate talk.
Yaaaa 1 year ago

Awwwwwww. Eiiiiiiiiiii. BOG to go round paying contractors e!. Did you go to school,? No wonder your name is Oluuu., a Ga phrase meaning I am a fuuuuuuul

Awwwwwww. Eiiiiiiiiiii. BOG to go round paying contractors e!. Did you go to school,? No wonder your name is Oluuu., a Ga phrase meaning I am a fuuuuuuul
Good Boy 1 year ago

Why did the bank of Ghana bail them out. And rather chose to waste huge sums of money in so-called the clean up exercise. December 2024 is almost here. We shall reset their brains for them.

Why did the bank of Ghana bail them out. And rather chose to waste huge sums of money in so-called the clean up exercise. December 2024 is almost here. We shall reset their brains for them.
John 1 year ago

The first two bailouts were interventions that BoG probably assumed would work. Those failing, the BoG was left with no choice NOT TO REPEAT THE BAILOUTS, but to shut them down for two key reasons ie 1. make a more efficient ...
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The first two bailouts were interventions that BoG probably assumed would work. Those failing, the BoG was left with no choice NOT TO REPEAT THE BAILOUTS, but to shut them down for two key reasons ie 1. make a more efficient use of tax payers money, and 2. to save our entire financial sector from collapsing, and restoring banking confidence
Seidu 1 year ago

False. GOG did not bail out GN Bank. Stop your foolish propaganda. It won't work. Ghanaians are now fully aware of what happened.

False. GOG did not bail out GN Bank. Stop your foolish propaganda. It won't work. Ghanaians are now fully aware of what happened.
Yaaaa 1 year ago

False. Go ask Nduom whether BOG did not help kraa. You don't have the facts. There were some interventions, but the level of the dd from GN , got out of hand. The dd Would have swallowed even Federal Reserve bank's vault.

False. Go ask Nduom whether BOG did not help kraa. You don't have the facts. There were some interventions, but the level of the dd from GN , got out of hand. The dd Would have swallowed even Federal Reserve bank's vault.
John 1 year ago

Seidu, I get the impression you haven't read the BoG report. Read and see where the report says that "after GN Bank's reclassification as a savings & loans company the BoG assigned it an ADVISOR to assist it downsize and rec ...
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Seidu, I get the impression you haven't read the BoG report. Read and see where the report says that "after GN Bank's reclassification as a savings & loans company the BoG assigned it an ADVISOR to assist it downsize and recapitalisation." Seidu, every day is a new opportunity to learn or forgo learning. It's your choice to choose a path that makes you either enlightened or uninformed.
International 1 year ago

BoG you are not telling the truth. The court has ruled in favour of GN Bank. It’s out of shame and political wickedness for you to still withhold the license and lie about it to the public. Prosperity will judge but my worr ...
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BoG you are not telling the truth. The court has ruled in favour of GN Bank. It’s out of shame and political wickedness for you to still withhold the license and lie about it to the public. Prosperity will judge but my worry is that state funds will be used to pay judgement debt while those who caused it will not be jailed.
John 1 year ago

When and where did the court rule in Kwesi Nduom's favour?. On the contrary the court has affirmed the rightness of the BoG revocation action. Please check your facts.

When and where did the court rule in Kwesi Nduom's favour?. On the contrary the court has affirmed the rightness of the BoG revocation action. Please check your facts.
Moses Ackah ANL 1 year ago

So he stole our savings and transferred them to Abrokyiere

So he stole our savings and transferred them to Abrokyiere
Kwaku 1 year ago

The current BoG leadership is typically Ghanaian in its rush rush decision and rush rush implementation measures. Why? Is the world ending tomorrow? Killing a bank? Why not let it die on its own?

The current BoG leadership is typically Ghanaian in its rush rush decision and rush rush implementation measures. Why? Is the world ending tomorrow? Killing a bank? Why not let it die on its own?

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GN Savings and Loans was insolvent prior to license revocation – BoG

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