Dr Paa Kwesi Nduom's GN Bank has lost its banking licence.
This follows the Bank of Ghana's (BoG) downgrading of GN from the status of a bank to that of a savings and loans company.
The BoG's decision follows the bank's inability to meet the deadline set for GN and other banks to raise a minimum capital of four hundred million Ghana cedis (GHC400m).
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