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Story: Atta Kwaku Boadi

The Supreme Court has quashed the Court of Appeal’s decision that the High Court cannot probe the circumstances which led to the revocation of GN Bank operation license by the Bank of Ghana (BoG).
The unanimous decision of the five member-panel of the Apex Court presided over by Justice Gabriel Pwamang was that the Court of Appeal erred in making the determination.
Readers will recall that in June 2022, the Court of Appeal ruled that the revocation of GN Bank’s licence by the BoG can only be dealt with at arbitration after the High Court said it had jurisdiction.
On June 2, 2022, a three-member panel of the Court of Appeal ruled that the High Court could not investigate the matter as filed by Dr Papa Kwesi Nduom and his legal team.
Dissatisfied with the decision of the Court of Appeal, Dr Papa Kwesi Nduom through his lawyers led by Dr Justice Srem-Sai challenged the decision at the Apex Court.
Ruling on the matter on Wednesday, July 19, 2023, Justice Pwamang’s panel which also included Justice Mariama Owusu, Justice Omoro Amadu Tanko, Justice Barbara Ackah-Yensu and Justice Ernest Yao Gaewu held that the applicants have alternative ways of addressing their grievances including the Court.
Consequently, the Apex Court ruled that the BoG was rather jumping the gun when it made the arguments that the matter could only be dealt with at arbitration.
“It was our view that the High Court was right to dismiss the rights of jurisdiction and to investigate the complaint,” filed by Dr. Nduom and his companies.
The apex Court said, “Court of appeal erred in its ruling on June 7 2022 and the “ruling of Court of Appeal is hereby set aside.”
Dr. Nduom, a businessman challenged the ruling of the Court of Appeal dated June 7, 2022 that the revocation of GN Bank’s license by the BoG can only be dealt with at arbitration.

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One thought on “GN Bank Vrs BoG…”

  1. GN Bank Depositor says:

    So still more delays and no money for customers of GN Bank?

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