Nduom's GN Bank downgraded to savings and loans company

Nduom's GN Bank downgraded to savings and loans company

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).

More soon.

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Source: Yen.com.gh

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