The Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has made bold claims that the collapse of his defunct bank, GN Bank, was not a mere coincidence but a politically orchestrated plot to destroy his business empire

In a Facebook live session on Friday, October 4, Dr Nduom accused individuals, both past and present, within government circles of deliberately targeting his financial institutions to serve their selfish interests.

According to Dr Nduom, the decision to collapse his bank was part of a calculated agenda, not only to dismantle GN Bank but also to wipe out all his entities in the financial sector. 

He stated, "That thing was deliberately, carefully, purposefully concocted. And the people who did it, they know who they are. And those who are involved in it, I'll mention their names….. So everybody knows that because some people deliberately decided that they would collapse GN Bank."

Dr Nduom explained that while his involvement in politics might have played a role in the situation, the primary reason was tied to the personal interests of his competitors who sought to eliminate his presence in Ghana's financial sector. 

"Politics may be part of it. But it is some people's selfish interests. They wanted to get some of us off the scene so that they could be in charge of the financial sector in Ghana," he said.

Expressing his frustration, he questioned the motivations behind the attack on his businesses, stating, "If you have a business, and I have the same or similar business, and if you happen to be associated with government, and you are supporting your business, go ahead and support your business. But why come and do things to collapse mine? Why."

Dr. Nduom stressed that his journey had been a long one, marked by years of hard work and investment, noting that "From 1975, I have laboured. I have invested. I have worked. So why."