Audio By Carbonatix
The Court of Appeal has by a unanimous decision upheld the Bank of Ghana's application that the suit by Dr. Papa Kwesi Nduom and others against the Bank of Ghana's revocation of the licence of GN Bank be referred to Arbitration.
The Court today June 2nd, 2022, held that per section 141 of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930, the forum for such a challenge is arbitration and not the court.
The Court held further that Dr Nduom and the other applicants had masqueraded their challenge to the decision of Bank of Ghana as a human rights application.
The Court therefore stayed the proceedings at the High Court and referred the matter to the Ghana Arbitration Centre.
The Court of Appeal panel of three Judges led by Justice Henry Coffie, and comprising Justice Eric Baah and Justice Novisi Ayine as members of the panel looked at the case.
Latest Stories
-
Disco Dance hit maker Ebo Taylor dances into eternity
18 minutes -
We are working to pay cocoa farmers’ arrears, exploring new funding model – COCOBOD
23 minutes -
Analysis: How the proposed sliding-scale royalties could impact mining revenue
27 minutes -
Renaming Kotoka International Airport: Counting benefits versus costs
42 minutes -
Husband reported wife missing, then her body was found in wedding dress bag
54 minutes -
Man named in South Africa’s police corruption probe found dead
1 hour -
Dembele scores twice as PSG hit 5 past Marseille
1 hour -
Real Madrid beat Valencia to close gap to leaders Barca
1 hour -
Real Madrid wants to sign Barcelona’s Pedri: Report
2 hours -
Spanish train drivers to begin nationwide strike after fatal crashes
2 hours -
Netherlands returns 3,500-year-old looted sculpture to Egypt
2 hours -
‘Trump’s psyche’: The aide driving president’s most controversial policies
2 hours -
Algeria begins to cancel air services agreement with UAE
2 hours -
Gunmen kill three people and abduct Catholic priest in northern Nigeria
3 hours -
Gov’t curbs offshore investments to protect cedi, boost stability
3 hours