{"id":259917,"date":"2024-12-03T23:10:12","date_gmt":"2024-12-03T23:10:12","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/03\/reinstate-gn-bank-or-suffer-consequences-thereof\/"},"modified":"2024-12-03T23:10:12","modified_gmt":"2024-12-03T23:10:12","slug":"reinstate-gn-bank-or-suffer-consequences-thereof","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/03\/reinstate-gn-bank-or-suffer-consequences-thereof\/","title":{"rendered":"Reinstate GN Bank or suffer consequences thereof"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/454\/45422952.295.jpg\" alt=\"Concerned residents in the Komenda-Edina-Eguafo-Abrem municipality\" title=\"Concerned residents in the Komenda-Edina-Eguafo-Abrem municipality\" width=\"295\" height=\"177\" \/> <span class=\"image_caption\"><span>Concerned residents in the Komenda-Edina-Eguafo-Abrem municipality<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">A group calling itself \u201cconcerned residents of the Komenda-Edina-Eguafo-Abrem (KEEA)\u201d Municipality in the Central Region staged a protest in Elmina, urging the government to reinstate the license of the defunct GN Bank.<\/p>\n<p>The Bank of Ghana revoked the license of GN Bank, citing the bank\u2019s inability to meet its financial obligations to customers, a claim contested by the concerned residents as unfounded and unsubstantiated.<\/p>\n<p>The residents praised Dr. Papa Kwesi Nduom, the Chairman of Group Nduom (GN), for his remarkable entrepreneurial expertise, which they regarded as a divine gift worthy of safeguarding and backing.<\/p>\n<p>The concerned residents accused the government of deliberately stifling the innovative spirit of patriotic citizens, thereby exacerbating the country\u2019s debilitating unemployment, poverty, crime, disease, deprivation, and perpetual stagnation.<\/p>\n<p>Dr. Nduom has established a plethora of enterprises in the area, including manufacturing, industrial printing, electronic assembly, quarrying, concrete production, primary and tertiary education, sports and entertainment, as well as hotel and hospitality services.<\/p>\n<p>This has not only generated numerous employment opportunities but has also fostered the growth of local businesses, offering a source of recreation and joy after a hard day\u2019s toil.<\/p>\n<p>Amidst the resounding chants of \u201cDr. Nduom, our esteemed and distinguished magnate,\u201d the inhabitants paraded peacefully along the main thoroughfares, bearing luminous lanterns.<\/p>\n<p>Their cries of anguish over the severe economic hardship and widespread joblessness garnered widespread praise from onlookers, with drivers honking their horns in solidarity.<\/p>\n<p>Clad in crimson and ebony hues, the group carried banners and placards with messages such as: \u201cReinstate GN Savings\u2019 License,\u201d \u201cHonor Nduom\u2019s Financial Obligations,\u201d \u201cDivine Intervention is on Our Side,\u201d \u201cGN Remains Financially Stable,\u201d \u201cCease Targeting Nduom,\u201d and \u201cNduom is Our Benefactor.\u201d<\/p>\n<p>A grand banner bearing a proverbial inscription: \u201cWhile any sculptor may excel in working with fine wood, it requires true mastery to craft something extraordinary from twisted and unruly timber\u201d was raised in the town.<\/p>\n<p>\u201cIt is our solemn duty to safeguard and uphold the majestic legacy of this tree in Elmina, Dr. Nduom,\u201d one of the residents insisted.<\/p>\n<p>Drawing historical parallels to Dr. Nduom\u2019s situation, Ofarnyi John Quayson, also known as Maanoma, a prominent fisherman in Elmina, recounted the alleged unjust treatment meted out to one Mr. Mpili Mensa, an esteemed entrepreneur from Elmina in 1874, who was maltreated by the Colonial Administration, which resulted in severe consequences.<\/p>\n<p>He lamented the animosity and destructive actions towards Dr. Nduom and his enterprises by the current government, echoing the injustices of the past.<\/p>\n<p>Mr. Quayson urged the government to settle the GH\u20b52.2 billion debt the government allegedly owed Dr. Nduom.<\/p>\n<p>He criticized the government for denying support to GN Bank, as well as the prolonged validation process for the debt owed to it, labeling it as \u201cdisheartening.\u201d<\/p>\n<p>The shutting down of GN Bank led to the layoffs of more than 4,000 employees.<\/p>\n<p>They are now unemployed and enduring hardships alongside their families.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Concerned residents in the Komenda-Edina-Eguafo-Abrem municipality A group calling itself \u201cconcerned residents of the Komenda-Edina-Eguafo-Abrem (KEEA)\u201d Municipality in the Central Region staged a protest in Elmina, urging the government to reinstate the license of the defunct GN Bank. The Bank of Ghana revoked the license of GN Bank, citing the bank\u2019s inability to meet its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":259918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-259917","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reinstate GN Bank or suffer consequences thereof - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/03\/reinstate-gn-bank-or-suffer-consequences-thereof\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reinstate GN Bank or suffer consequences thereof - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Concerned residents in the Komenda-Edina-Eguafo-Abrem municipality A group calling itself \u201cconcerned residents of the Komenda-Edina-Eguafo-Abrem (KEEA)\u201d Municipality in the Central Region staged a protest in Elmina, urging the government to reinstate the license of the defunct GN Bank. 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