GN Bank receiver under stress!

Story: Today’s Investigative Team

Unimpeachable sources have told Today Newspaper investigators that the Receiver appointed for GN Bank/GN Savings, Mr. Eric Nana Nipah is under severe stress.  Some ruling party New Patriotic Party  officers and supporters are calling for his head.  Others close to him are asking him to bail out before he is sacrificed for botched and so-called financial sector reform.

After three years of scrutinizing the books and records of GN Bank, his staff who are being paid a significant amount of money for fees and expenses, cannot pin specific wrong doing on the directors and shareholders.  Yet, some government officials keep pressing him to find “something” to hang them with.  It has even come to light that the former Attorney General and Minister of Justice Hon. Gloria Akuffo refused to accept trumped up charges against the directors and shareholders of the bank.   Several matters have been pushed to the security and investigations agencies with the same no charge result.  Furthermore, it is known that GN Bank was not handed government bailout or Bank of Ghana money that was dissipated.  So the questions asked Mr. Nipah everywhere is why was the license withdrawn?

Mr. Nipah has asked the Ministry of Finance for funds to pay the deposits of customers whose claims have been validated.  Yet no funds are coming which goes against the message sent to Ghanaians before the 2020 elections that all depositors had been paid.  This is making Mr. Nipah a liar in the minds of several people who continue to suffer personal and business losses.

In their desperation, the Receiver’s staff have resorted to making themselves detectives, investigators and prosecutors.  They review documents presented and refuse to accept them asking the customers to bring proof and show sources of funds they may have deposited years ago.  All in a bid to reduce the pressure of mounting unpaid but validated claims.

In the meantime, GN Bank assets continue to deteriorate.  The Sekondi building is rotting away with no maintenance.  It has become a den for miscreants and smokers of illegal substances.  At the same time, some politicians are eyeing some of the buildings to acquire on the cheap, or seize them illegally.

The money laundering allegations raised against Dr. Papa Kwesi Nduom and Groupe Nduom has been shattered.  The surrogates of government officials who brought a case of illegal transfer of over $60 million against Dr. Nduom and his companies have retreated in disgrace and humiliation with the coup de grace administered by a USA federal court.

Worse still is the fact that Mr. Nipah’s stressful existence is showing up in physical illnesses. 

Next:  stress on regulators?

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One thought on “GN Bank receiver under stress!”

  1. GN Bank depositor says:

    Finally an article that has positive news!

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