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
-
Reus to leave Dortmund at the end of the season
18 mins -
Uefa confirms 26-man squads for Euro 2024
23 mins -
Teacher Unions press home demands for the new allowances
25 mins -
Media’s failure to hold government accountable for ‘galamsey’ alarming – Mahama
32 mins -
Keta Presbytery urges Akufo-Addo to assent to anti-LGBTQ+ Bill
39 mins -
Ghanaian midfielder Lawrence Ofori nets maiden goal of the season with stunner against Vizela
45 mins -
Community fearful after off-duty policemen shot dead at East Trasacco
50 mins -
Dext Technology partners KNUST to train basic school teachers on STEM
1 hour -
My efforts led to remarkable transformation in Appiatse – Lands Minister
1 hour -
13th Ghana Information Technology and Telecom Awards launched
1 hour -
Comedy of electioneering campaign policy: NDC’s 24-hour economy tricks
2 hours -
We will remain vigilant in our oversight operations of all financial institutions – Governor
2 hours -
Ghana’s economic recovery has been strong and steady – Finance Minister
2 hours -
Government completes 50 premix fuel automation machines at landing sites – Fisheries Minister
2 hours -
FBNBank changes its name to FirstBank Ghana
2 hours