Where Are GN Bank Vehicles & Motorcycles? 

Date

*Ask Eric Nana Nipah

Story:  Atta Kwaku BOADI

On Monday and Tuesday 14 and 15 February respectively, Today Newspaper investigators combed through Accra and landed at Kwashieman where several vehicles belonging to GN Bank/Savings had been parked since 2019. 

Our motivation was to determine the state and condition of these mostly strong American made 4×4 pickups and saloon cars.  We wanted to find out if the vehicles were being serviced to prevent financial loss. 

We were shocked when we returned to Kwashieman on Friday 18th February to find that the vehicles have been moved. 

Sources told l us that they had  been moved to a site in Afienya to be out of sight of prying eyes.  Concerned professionals in the financial industry tell us that the Receiver must account publicly for his stewardship given that public funds are being used to pay him and his huge team. 

The Receiver appointed by the Bank of Ghana(BoG),  our sources further told us that  Eric Nana Nipah had  been  hauling directors, officers and management personnel of GN Bank/Savings before EOCO and other state investigators to account for their stewardship of customer deposits. 

Mr. Nipah, according to further checks  has presided over a big team of men and women some of them former employees of the financial institution to chase after loan customers to retrieve monies due to the company. Today Newspaper needed to know if he was  applying the same level of concern over the physical assets of the company.

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.

 A court case has been in  process since August 2019 with the Bank of Ghana, the Attorney-General and the Receiver listed as defendants.  The judge, Justice Agyei-Addo had set 9th December 2020 for her final judgement.  It is the Bank of Ghana that has been using technicalities, what some have alleged to be “legal tricks and gymnastics” to cause delays and push judgement day far into the future.

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 theses assets?  How much value has been lost so far?

Our investigations continue

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