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
-
MTN FA Cup: Defending champions Kotoko knocked out by Aduana
3 hours -
S Korean crypto firm accidentally pays out $40bn in bitcoin
4 hours -
Washington Post chief executive steps down after mass lay-offs
4 hours -
Iranian Nobel laureate handed further prison sentence, lawyer says
4 hours -
U20 WWCQ: South Africa come from behind to draw against Black Princesses in Accra
4 hours -
Why Prince William’s Saudi Arabia visit is a diplomatic maze
4 hours -
France murder trial complicated by twin brothers with same DNA
4 hours -
PM’s chief aide McSweeney quits over Mandelson row
5 hours -
Ayawaso East primary: OSP has no mandate to probe alleged vote buying – Haruna Mohammed
5 hours -
Recall of Baba Jamal as Nigeria High Commissioner ‘unnecessary populism’ – Haruna Mohammed
5 hours -
Presidency, NDC bigwigs unhappy over Baba Jamal’s victory in Ayawaso East – Haruna Mohammed
6 hours -
Africa Editors Congress 2026 set for Nairobi with focus on media sustainability and trust
6 hours -
We are tired of waiting- Cocoa farmers protest payment delays
6 hours -
Share of microfinance sector to overall banking sector declined to 8.0% – BoG
7 hours -
Ukraine, global conflict, and emerging security uuestions in the Sahel
7 hours