GN Savings is not only solvent but would be highly liquid if... - Nduom reacts

GN Savings is not only solvent but would be highly liquid if... - Nduom reacts
Source: Ghana | Myjoyonline.com | Abubakar Ibrahim
Date: 16-08-2019 Time: 08:08:59:pm
Chairman and CEO of Groupe Nduom, Dr Papa Kwesi Nduom

Chairman and CEO of Groupe Nduom has argued that GN Savings is not only solvent but would be highly liquid if the Finance Ministry and other government agencies quickly pay amounts owed them. 

Dr Papa Kwesi Nduom says he wants the issue to be resolved in due course.

In a press release hours after the central bank closed down GN Saving and Loans and 22 others, he debunked claims by the Bank as reasons for the action. 

According to him, neither the shareholders nor management of GN Savings have received any official communication from the Bank of Ghana (BoG) regarding receivership.

“If these documents are indeed genuine, the statements within regarding GN Savings are wildly inaccurate. Given the detailed information provided to the BoG nearly a year ago, these statements are inconsistent with our discussions with both the BoG and the Ministry of Finance (MoF),” he said.