Close Menu
MyGhanaDaily
    Facebook X (Twitter) Instagram
    MyGhanaDaily
    Tuesday, October 28
    Trending
    • GoldBod Jewellery names Bola Ray and Joselyn Dumas as Brand Ambassadors
    • MG Auto Trading Ghana Unveils All-New MG RX9 SUV, Announces Plans for Local Assembly
    • Bank of Ghana Launches Year-Long Cedi@60 Celebration
    • Lions International District 418 organises free eye screening
    • Qofi Shakur Talks Shatta Wale’s Influence, Freestyles, and His Musical Mission
    • Wendy Shay Is “READY” — Drops Her Most Fearless and Emotional Album Yet
    • Beeztrap KOTM and Olivetheboy Shine in the Stunning Visuals for “FOTO”
    • “Body Go” by Moliy ft. Tyla Is a Celebration of African Beauty and Power — Watch Now
    Your Marketplace Banner
    • News
    • Business
    • Entertainment
      • Music
      • Movies
      • Fashion
      • Celebrity news
    • Sports
    • Health
    • Technology
    • Agriculture
    • Opportunites
    • Videos
    • More
      • Education
      • Tourism
      • History
      • Feature
      • Opinion
      • World
    MyGhanaDaily
    Home»Finance»GN Bank to revive operations as CEO Dr. Nduom seeks to retrieve banking license
    Finance

    GN Bank to revive operations as CEO Dr. Nduom seeks to retrieve banking license

    myghanadailyBy myghanadailyMay 27, 2024No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    GN Bank to revive operations as CEO Dr. Nduom seeks to retrieve banking license. Groupe Ndoum (GN) has initiated steps to recover its banking license in a bid to revive operations across the country. 
    GN Bank to revive operations as CEO Dr. Nduom seeks to retrieve banking license. Groupe Ndoum (GN) has initiated steps to recover its banking license in a bid to revive operations across the country. 
    Getting your Trinity Audio player ready...

    GN Bank to revive operations as CEO Dr. Nduom seeks to retrieve banking license. Groupe Ndoum (GN) has initiated steps to recover its banking license in a bid to revive operations across the country.

    At a gathering addressed by Dr. Paa Kwesi Nduom, Chief Executive Officer for the Bank, at the former branches of the defunct bank in Brewa and Agona, all in the Central Region, he assured the residents that the bank would reopen operations soon.

    Send your stories to Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140

    “I am here to assure you all that sooner or later the bank will begin operations for you all. We are currently taking steps to access our license from the Bank of Ghana. We are the bank for the people, so we will do everything in our power to commence operations for you people, “he said.

    The Bank of Ghana on August 16, 2019 revoked the licence of  23 savings and loans companies and finance companies.

    One of the savings and loans companies was GN Savings and Loans.

    The Central Bank took the decision pursuant to Section 123(1) of the banks and specialised deposit-taking institutions.

    The Act mandates the central bank to revoke the licence of a bank or specialised deposit-taking institution if it determines that the institution is insolvent.

    However, the bank’s decision, according to Dr. Nduom, in an address to residents of the communities he visited, was unjust.

    He said that the government’s indebtedness to the bank through locked-up funds from contractors occasioned the bank’s insolvency.

    The CEO said if the government had paid the debt it owed the contractors, the bank would have been in a better financial position during the period the license was revoked.

    Dr. Nduom urged the residents to mount pressure on their leaders, particularly their representatives in parliament, to force the central bank to release its licence.

    The bank formerly had 300 branches across the country and a staff of 7,000.

    The license recovery drive also featured other activities, including a visit to the various branches of the defunct banks and communities.

    He said that in the coming days, the defunct bank will seek to recover its licences, as it intends to engage in various advocacy activities to raise concern about the “unjust” revocation of banking licenses by the Bank of Ghana.

    The “Bring Back GN Bank” recovery drive included several activities, notable among them being a tour of the company’s assets across the country and engagement with former staff of the bank, he said.

    Dr. Ndoum visited the former and proposed  branches of the bank  in Afransie, Awutu Senya, Potsin and Ngleshi Amanfrom.

    The branches in  Amanfrom and Awutu Senya have been converted into churches while the branch in Potsin had been destroyed.

    Source: GNA

    Send your news stories to
    Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140
    Advertise with us | Follow our WhatsApp channel for more news
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleGhana’s resilient economy is still worth your money – investors told
    Next Article Don’t abandon hospitals for prayer camps, pregnant women advised
    myghanadaily

    myghanadaily is managed by the Publishing Desk. You can reach us via email; info@myghanadaily.com

    Related Posts

    New AVCA report reveals Ghana’s pension funds could unlock over US$1 billion for private capital investment

    October 22, 2025

    GRA takes tax education to markets as part of GH¢360 billion revenue drive

    May 9, 2025

    Ghanaian workers call for reset in service conditions

    May 1, 2025
    LATEST NEWS
    • GoldBod Jewellery names Bola Ray and Joselyn Dumas as Brand Ambassadors
    • MG Auto Trading Ghana Unveils All-New MG RX9 SUV, Announces Plans for Local Assembly
    • Bank of Ghana Launches Year-Long Cedi@60 Celebration
    • Lions International District 418 organises free eye screening
    • Qofi Shakur Talks Shatta Wale’s Influence, Freestyles, and His Musical Mission
    SPORTS NEWS

    2026 FIFA WCQ: Ghana beats Mali

    September 9, 2025

    The Black Stars Podcast: A six-part dive into Ghana’s football history, struggles and sparks of glory

    August 30, 2025

    2026 World Cup qualifiers: Black Stars set to open camp on September 1

    August 27, 2025

    Felix Afena-Gyan Joins Amedspor on Season-Long Loan

    August 21, 2025

    Ayew Stays Positive as Foxes Target Quick Response

    August 21, 2025
    Recent Posts
    • GoldBod Jewellery names Bola Ray and Joselyn Dumas as Brand Ambassadors
    • MG Auto Trading Ghana Unveils All-New MG RX9 SUV, Announces Plans for Local Assembly
    • Bank of Ghana Launches Year-Long Cedi@60 Celebration
    • Lions International District 418 organises free eye screening
    • Qofi Shakur Talks Shatta Wale’s Influence, Freestyles, and His Musical Mission
    Like Us On Facebook
    Facebook Pagelike Widget
    • Facebook
    • Twitter
    • Instagram
    © 2019 -2025 Copyright | MyGhanaDaily.com

    Type above and press Enter to search. Press Esc to cancel.