Dr Ndoum Gets Emotional After Seeing The Ruins Of His Collapsed GN Bank

Dr Ndoum Gets Emotional After Seeing The Ruins Of His Collapsed GN Bank

  • Dr Nduom nearly broke down in tears after he visited one of the numerous branches of the defunct GN Bank
  • Touring the facilities, Dr Nduom could not believe the ruins he saw on his properties worth millions of cedis
  • He shared an emotional video to launch a campaign as part of a plan to get his bank in business again

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Businessman and politician, Dr Papa Kwesi Nduom has stirred emotions after a video of him touring one of the facilities of his defunct bank, the GN Bank surfaced online.

In the video sighted on X (formerly Twitter), several properties of the once vibrant financial institutions have been left in a state of decay and disrepair.

Dr Ndoum gets emotional after visiting the abandoned facilities of his collapsed bank
Dr Nduom inspecting the abandoned GN bank Photo credit: Dr.Papa Kwesi Nduom/Facebook
Source: Facebook

Dr Ndoum could be seen in the video struggling to hold his emotions together after seeing the ruins of his collapsed business.

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"BringBackGNBank": Dr Nduom begins nationwide tour to demand return of his company

Properties worth millions of cedis, ranging from cars to office stationery and ledgers, were rotten beyond recognition in the video sighted by YEN.com.gh.

Some portions of the building, including the doors and windows, were broken, and the remaining parts of the main structure began to develop cracks.

The compound had also been overtaken by weeds begging for some serious mowing.

The visit to the facility forms part of Dr Nduom's broader campaign to get his revoked banking licensed back.

Below is the video shared on X by @fanti_boy.

The beginning of the end for GN Bank

The Bank of Ghana revoked the operating licenses of some 23 savings and loans companies and finance houses including the GN Bank in a ruthless clean-up exercise of the country's financial sector.

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Management of the GN Bank subsequently filed a suit at the Accra High Court challenging the legality of the central bank's actions.

The Accra High Court, however, presided over by Justice Gifty Addo Adjei reaffirmed the decision of the Bank of Ghana in a ruling delivered this year, January 2024.

Before the revocation of its license, the GN Bank was one of the top-performing banks in Ghana, with offices dotted across the country even in the most rural areas.

Nduom calls on government to pay over GH¢7bn owed his companies

Earlier, YEN.com.gh reported that Dr Papa Kwesi Nduom has said the government still owes two of his companies and some of his other firms GH¢7 billion

Nduom has called on the government to reimburse contractors who borrowed money from Groupe Ndoum.

The Securities and Exchange Commission (SEC) revoked the licences of Nduom’s Gold Coast Fund Management in 2019.

Read also

Bawumia rebuts claims that the Akufo-Addo government has been reckless with state funds

Proofread by Berlinda Entsie, journalist and copy editor at YEN.com.gh

Source: YEN.com.gh

Salifu Bagulube Moro avatar

Salifu Bagulube Moro Salifu Bagulube Moro is a Human Interest Editor at YEN.com.gh. He has over six years of experience in journalism. He graduated from the Ghana Institute of Journalism in 2018, where he obtained a Bachelor’s Degree in Communication Studies with a specialization in Journalism. Salifu previously worked with Opera News as a Content Management Systems (CMS) Editor. He also worked as an Online Reporter for the Ghanatalksbusiness.com news portal, as well as with the Graphic Communications Group Limited as a National Service Person. Email: salifu.moro@yen.com.gh.

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