Connect with us

General News

BoG lied; no 70 offices shut down, no top bosses sacked – GN

Published

on

BoG lied; no 70 offices shut down, no top bosses sacked – GN

Groupe Nduom, the parent company of GN Savings and Loans, whose licence was revoked recently by the Bank of Ghana, has described as false, assertions by the central bank that it has shut down some offices and sacked top management staff.

Explaining why GN Savings and Loans had its licence revoked, BoG stated: “GN has suspended operations in seventy (70) of its branches including the Head office branch at Asylum Down and Castle Road branch, and temporarily suspended its entire management team without the approval of the Bank of Ghana contrary to section 25 (2) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), mainly as a result of its insolvency and liquidity challenges”.

Read Also  Nigerians in Ghana condemn attack on GIS personnel

However, the group replied in an emphatic press statement signed by its Corporate Affairs Manager, Frank Owusu-Ofori, on Wednesday, 21 August 2019, that: “GN Savings has not sacked its top management staff. As of Friday afternoon, that team was still at post. The BoG as a regulator must not make important decisions based on hearsay. We challenge BoG to produce the said termination letters. The Chairman of the Board of Directors in a letter written to BSD promised to deliver a new organization structure befitting the status of a Savings and loans company”.

It added: “GN Savings has not closed 70 offices. Rather, the company wrote several weeks ago to BSD for approval to temporarily suspend operations in a number of offices to reduce cost during the business revival period. BSD has till today not responded to this request”.

Read Also  Lumba and I didn’t break up over a woman - Nana Acheampong

GN Savings and Loans said it has come up with new ideas that have caused its business to begin a sustained revival with thousands of customers making new deposits and enjoying unrestricted withdrawals and questioned why the BoG would revoke the licence of such a company.

Meanwhile, GN has stated that the only option left for the savings and loans company in seeking redress is to head to the court since dialogue with the regulator has not yielded much result.

“It appears that our only option is to pursue this case in the court of law – negotiating with the Bank of Ghana in good faith has yielded less than desirable results,” the statement noted.

Read Also  Dutch Ambassador clarifies ‘Ghana beyond corruption’ comments

Source: classfmonline.com

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Entertainment

Wedding Canceled as Bride’s Mother Vanishes With Groom’s Father

Published

on

An ongoing wedding has been canceled because groom’s father eloped with the bride’s mother.

The unfortunate incident was revealed by a friend to one of the families last night via his space on twitter.

A dismayed guest and friend to the bride’s family, Max Vayshia took to Twitter to narrate the incident as it happened.

He posted;

“So this wedding was canceled because the groom’s father eloped with the bride’s mother. Mahd oo.”

As funny as it was, it wasn’t really funny to him. For him, the funny aspect was the fact that it happened live in front of everyone.

Read Also  Nana Appiah Mensah has been arrested in Dubai - Sources

“What is funnier is that this is not a joke. It happened live 😂”, he added.

Now, thinking about this, if what we are all suspecting happens, the ex-fiancé and fiancée becomes step brother and step sister. The stepson and daughter become ex-lovers.

While people endorse the decision to cancel the wedding, others believe they were not ready to get married yet. Citing that if they were, they wouldn’t allow the business of two consenting adults to influence the process of tying their knots.

Read Also  I will make the NDC attractive again - Prof. Alabi

Continue Reading

General News

Woman Spotted Carrying Metal Kiosk on Her Head to Market

Published

on

It was a surprising scene, to say the least when an unknown woman was seen carting a large container on her head to the market.

Concerned by the full extent of the weight, some people quizzed if she was okay. Others also asked if she needed help while the rest took out their smartphones to record proceedings.

Well, it appears we have Ghana’s most strongest woman on our hands.

Watch the full video below;

Read Also  Government's Contract with PDS in Limbo
Continue Reading

General News

(Video) Lady Beats Boy Up For Telling His Friends he Chopped Her

Published

on

A yet to be identified lady has publicly & physically attacked a guy who told all his friends about how he chopped her.

The video shows the girl who met this guy in broad daylight and decided to register her displeasure by attacking him. for his childish behavior about their affair.

This practice is very common with guys who use it as a means to express their masculinity and false bravado but this lady is not ready to obey the status quo.

The video below has all the details you need.

Read Also  National Security Operatives assault passengers for criticizing Okyenhene
Continue Reading

Trending