Story: Atta Kwaku Boadi

The Groupe Nduom Global Chairman, Dr. Papa Kwesi Nduom, has issued a strong warning to individuals who, through proxy or surrogate powers, have laid claim to the company’s properties over the past seven years—treating them as personal or corporate assets.  

He has cautioned them to be on high alert, declaring, “We’re going for our properties,” as he prepares to take decisive action in the coming days. Significantly, Dr. Nduom made this declaration at the site of one of his prime properties near the SSNIT Towers—a location that has suffered repeated illegal takeovers by individuals reportedly backed by influential figures within the previous Nana Akufo-Addo administration.  

“I want people to take note of where I’m standing. I’m using this moment to demonstrate what we at Groupe Nduom have endured over the past seven to eight years. There are individuals who believe they can take undue advantage of the challenges our companies have faced since 2017—challenges that reached a crescendo in 2019”, he said.

It was during this period, Dr. Nduom disclosed, that these individuals “tried to take advantage of those challenges to illegally seize our assets—grabbing them for personal or corporate use.” 

But Dr. Nduom appears to have lost confidence in state institutions, which, for nearly a decade, have failed to deliver justice or bring closure to what he describes as the daylight theft of Groupe Nduom’s assets. 

 “We are going to take legal and direct action,” he declared. “Some people think that because we haven’t been aggressive—because we haven’t physically challenged them on the ground—we are soft, and they can just take away our valuable properties. That ends now.” 

He therefore called the attention of the government and security agencies to the lack of protection Groupe Nduom has received—an omission that, he said, has allowed unscrupulous individuals to strip the company of its valuable assets. 

“So, I’m drawing the attention of the Mahama administration, National Security, the Police Service, and everyone: enough is enough. If you won’t protect us, we will protect ourselves. If you won’t help us safeguard our properties, we will take the necessary steps to do so—and let someone else take the blame. We are about to go and reclaim what is rightfully ours”, he stated. 

Dr. Nduom did not mince words about the roles played by the immediate past Governor of the Bank of Ghana (BoG), Dr. Ernest Yedu Addison, and Eric Nana Nipa—the appointed Receiver for GN Bank/Savings and Loans. 

“Do we still have the same Receiver working for the Bank of Ghana?” Dr. Nduom questioned. “Because it was the Bank of Ghana that appointed Eric Nana Nipa—who, in my view, is causing financial loss. Is he still there? From all indications, no one should be touching these properties—which they claim are theirs—even though we are still in court over them.” 

Today newspaper gathered that the facility from which Dr. Nduom made these remarks is legally owned by GN Re-Insurance, a subsidiary of Groupe Nduom (GN). The property has been the subject of numerous encroachments over the years by various individuals. 

Dr. Nduom thus revealed: “From time to time, certain people have come here armed—during the tenure of the previous administration—sometimes accompanied by police or even military personnel. You begin to wonder: where do they get these people from? Armed, to come here and forcefully drive our staff away.” 

He added that within the past six months, an individual had gone to court to place an injunction on ongoing construction work, causing significant financial loss to the company. “The question is: who are these people? Who is giving them cover to carry out these  activities? And more importantly, over the past seven years, where have they been getting their authority from?” 

The state of the Adabraka property, he lamented, mirrored  the broader risk facing many GN assets—abandoned, looted, or destroyed under the receiver’s watch. Dr. Nduom recounted how several other properties within the Groupe have suffered a similar fate, including the one near the SSNIT Towers. 

“We have property at Prampram. The one in Prampram, there’s former minister of state, trying to take the property forcibly from us for the past few years. And we are still battling him. Not far from Patang, we have several acres of land that we are told, a former minister in the Akufo Addo administration had given cover to some people at Pantang to build on… Some of them have hurriedly built massive mansions under the protection of a certain minister—not just in Greater Accra,” Dr. Nduom stated.

 “In other parts of the country, you’ll find that some individuals have taken over land belonging to us. For instance, in Twifo Praso, land legally owned by GN Bank is currently being developed by encroachers”, then business magnate said.