Story: Atta Kwaku Boadi 

Today Newspaper can confirm that, the items of GN Bank are not only being stolen, sold or  removed to unknown places without the knowledge of the shareholders, but they are fast  deteriorating as they are left at the mercy of the weather.

Today’s recent visit to some branches and locations of the bank in the Volta, Eastern, Northern, Central and Western region, the paper observed that, the buildings in these locations were in bad state as some of them have been taken over by reptiles and squatters.   

 Ironically, the assets of the bank are supposed to be under the care of the Receiver of GN Bank/GN Savings and Loans Company, Eric Nana Nipa who was appointed by the Governor of the central bank, Dr Ernest Addison  after the revocation of the bank’s licence.  

Readers will recall that on Friday, April 13,2022, Today Newspaper’s  front page banner headline story “Who is removing GN Bank items from the branch locations to unknown locations; are shareholders of  the bank aware of these movements”? reported that some  people with questionable characters stormed the Nyankpala  branch of the bank to demand the keys of place.
The paper continued that ,when those people were  questioned by the police officer on duty  to know who sent them to get the keys, they  could not  mention anybody’s name.

And just two days after the said publication, there was another underground move by similar people.  Today further discovered that this time the people went to  the Chereponi  branch of the Bank also in the Northern Region to pick up items  belonging to  the Bank to  unknown  places.

According to our investigations, the people had a letter perceived to be written and signed  by PWC/Receiver authorising them  to move around  in the Northern part of the country to move items  to certain locations.

According to our investigations, the people had a letter perceived to be written and signed  by PWC/Receiver authorising them  to move around  in the Northern part of the country to move items  to certain locations.

What still baffles this reporter  is whether the individuals involved in these acts  have been acting on the instructions of the GN Bank Receiver or taking advantage of the Receiver’s apparent nonchalant attitude towards the properties of GN Bank. There is the held view that the Receiver’s obvious lack of proper diligence could lead to the thievery of some of the GN Bank properties and office items.  And the latest discovery made by the paper of an attempt by a group of youngsters to pick up the bank’s equipment/items at Chereponi is an attestation of that view point.   Our further investigations point to the fact that some people are laying grounds  for  the Shareholders to put up a judgement debt case in the future.Meanwhile many Ghanaians who have shared their thoughts on the Receiver/GN Bank issue believe the lack of proper supervision by the Receiver could offer some unscrupulous people the chance to  steal the company’s equipment and items.  

This reporter therefore wondered whether same approach had been adopted in the collection of many GN Bank items in other areas of the country and whether indeed, every single item was counted in the data currently at the offices of the Receiver; and whether they reconcile with that of GN Bank.Readers must note that the revocation of the license of GN Bank/Savings has not been a final event.  It has been disputed by Dr. Papa Kwesi Nduom and other shareholders in court.

 Given the situation, a prudent professional in the Receiver role would be expected to keep assets in his possession safe and in tip top condition.  We expected Nana Nipah to prevent financial loss especially with our understanding that he has been given substantial funds to manage the assets of GN Bank/Savings.
Our investigations raise the questions:  Where are the vehicles and motorcycles?  Are they being serviced?  Who is managing the inventory of these assets?  How much value has been lost so far?