Dr. Papa Kwesi Nduom says preparations are underway to reopen GN Savings and Loans following a Court of Appeal ruling that ordered the restoration of the institution’s licence.
Addressing a press conference on the future of GN Savings and Loans, the Chairman of Groupe Nduom said the company intends to comply fully with the court’s directives and is already taking steps towards resuming operations.
According to him, the Court of Appeal’s decision was clear and unambiguous, directing authorities to immediately restore the licence and return control of the institution’s management, assets and operations.
He said the company is proceeding with discipline and enthusiasm while remaining mindful of any legal rights and constraints within the judicial process.
Dr. Nduom stated that the immediate focus of Groupe Nduom is to implement the court’s orders and prepare the institution for reopening.
Responding to questions about customers whose funds were locked up following the revocation of the licence, he said previous assurances by former President Nana Addo Dankwa Akufo-Addo and former Bank of Ghana Governor Ernest Addison were that depositors who filed claims with the receiver would be paid.
He said the company therefore believes affected customers have largely received their funds, adding that the main outstanding issue concerns deposits belonging to Groupe Nduom companies that remained with the institution after its licence was revoked.
According to Dr. Nduom, the group is taking steps to recover those funds as it works towards the reopening of GN Savings and Loans.
