High Court to determine case between GN Savings and Loans, BoG on Dec 18

High Court to determine case between GN Savings and Loans, BoG on Dec 18
Source: Ghana | Myjoyonline.com | Ebenezer Sabutey | Joy Business
Date: 22-11-2019 Time: 05:11:30:pm
Dr Papa Kwesi Nduom

The Human Right division of the Accra High Court has set December 18 to determine whether it has the jurisdiction to sit over the case brought to it by Dr Papa Kwesi Nduom against the central bank and receiver of the savings and loans companies.

Dr Nduom is praying the Court to revert the decision by the Bank of Ghana (BoG) to revoke the license of GN Savings and Loans, saying the action is a violation of his fundamental human rights.

Lawyers for the BoG have raised a legal objection to the application on the basis that the jurisdiction of the High Court has been wrongly invoked. 

Upon several hearings, the Court presided over by Justice Gifty Addo Adjei, she set December 18, to determine the jurisdiction of the case.

According to lawyers of Dr Nduom, the action taken by the bank of Ghana and it's agent, which includes the receiver of the savings and loans companies, is a clear violation of his human right.

Lawyers for the central bank and Attorney General say the jurisdiction of the court has been wrongly invoked because matters of banking revocation are expected to go for arbitration at the Arbitration Centre.

But the lawyer for Dr Nduom, Justice Srem Sai vehemently opposed this argument.

According to him, the Act giving the opportunity for arbitration also made a provision for aggrieved persons to result to the courts if their human right has been violated.

Lawyer for the first respondent, Frank Davies debunked this arguing that Justice Srem Sai and his client failed to demonstrate to the court over the claims that their human rights have been violated.

He further prays the court to strike out the case and direct the applicants and Group Nduom to result in arbitration.

But Justice Srem Sai shot this down saying similar cases were heard in the High Court without going through arbitration. 

The court presided over by Justice Gifty Addo Adjei upon hearing both sides adjourned to December 18, to rule on the matter.