Kwesi Nduom Claims State Owes Him Over GHC7.1 Billion

Dr. Papa Kwesi Nduom, the Global President of Groupe Nduom, has reiterated his claim that the state owes him over GHC7.1 billion, including interest.

Speaking at a press briefing in Accra, Dr. Nduom emphasized the significant amount he believes is owed to him, stating, “Per our arithmetic, we are owed more than GHC7.1 billion including interests…They know they owe, and they can argue about interests, they can argue about that.”

In addition to reiterating his financial claims, Dr. Nduom announced plans to temporarily pause his “Bring Back GN Bank” campaign in September. He intends to embark on a nationwide tour of the 300 branches of the defunct bank, following a previous visit to its branches in the Northern Region. The tour aims to gather support from petitioners advocating for the restoration of GN Bank’s license, which was revoked by the Bank of Ghana (BoG) in 2019.

Dr. Nduom explained that the purpose of this tour is to rally support for the cause and engage with those affected by the closure of GN Bank. He plans to resume the “Bring Back GN Bank” campaign in November after a period of strategic planning and reflection.

The Bank of Ghana, however, recently defended its 2019 decision to revoke GN Bank’s license, citing significant regulatory breaches. The Central Bank maintained that GN Bank’s failure to comply with key financial regulations and banking standards posed a threat to its operational stability, leading to the decision to revoke its license.

The ongoing dispute between Dr. Nduom and the state over the closure of GN Bank and the financial claims he has made continues to be a point of contention, with both sides standing firm on their positions.