The CEO of Dalex Finance says restoring GN Savings and Loans' licence does not mean the institution has fully recovered, cautioning that rebuilding the bank and regaining public confidence will be difficult. According to him, a bank requires more than legal licence restoration — it needs operational systems, capitalization, governance, liquidity, regulatory supervision, and public confidence.
21 May 2026 · Joy Online →
The Vice President of Group Ndoum welcomed the Court of Appeal's ruling in favour of GN Savings and Loans, saying the judgment vindicated the group's position that it committed no wrongdoing to justify the Bank of Ghana's decision to revoke its operating licence. He argued the action was unwarranted and said the ruling brought relief to founder Papa Kwesi Nduom and his family.
21 May 2026 · Joy Online →
The Court of Appeal has ruled in favour of GN Savings and Loans and ordered the Bank of Ghana to restore its revoked licence and return assets to shareholders. Papa Kwesi Nduom's counsel argued that the BoG and High Court failed to follow appropriate regulatory procedures before revoking the licence seven years ago, overlooking that the institution had sufficient capital to continue operations.
21 May 2026 · Joy Online →
The Court of Appeal ruled in favour of businessman and politician Dr Papa Kwesi Nduom in a legal battle linked to his defunct GN Savings and Loans. Nduom, whose banking operations were affected during Ghana's financial sector clean-up exercise seven years ago, expressed optimism about the future and signalled plans to return to work.
21 May 2026 · Joy Online →
The Court of Appeal unanimously restored the operating licence of GN Savings and Loans, quashing a High Court decision that upheld its revocation during the banking sector cleanup and ruling that the Bank of Ghana's decision to revoke the licence was unfair and unreasonable. Chairman Dr Papa Kwesi Nduom said the restoration marks a turning point and that Ghana is in a positive political environment capable of supporting business recovery.
21 May 2026 · Joy Online →
The Court of Appeal has unanimously overturned a High Court decision and restored the operating licence of GN Savings and Loans Company Limited, which regulators had revoked. Dr Papa Kwesi Nduom, Global Chairman of Groupe Nduom, expressed relief after what he described as seven very difficult years of legal and regulatory battle.
21 May 2026 · Joy Online →
The Court of Appeal has restored the operating license of GN Savings and Loans, ending a seven-year legal and regulatory battle. Owner Dr. Paa Kwesi Nduom thanked loyal employees and credited the current political environment for the resolution.
21 May 2026 · The Ghanaian Times →
The Court of Appeal has ordered the Bank of Ghana to restore GN Savings and Loans' operating licence, which was revoked during Ghana's banking sector cleanup exercise. Founder Dr Papa Kwesi Nduom pledged to rebuild the firm stronger than before and return it to contributing to economic growth.
21 May 2026 · Joy Online →
Ghana's Court of Appeal has unanimously reversed a High Court ruling and restored the license of GN Savings and Loans, finding the regulatory revocation unfair and unreasonable. The company's legal representatives announced plans to enforce the judgment and compel the court-appointed receiver to return assets and management control to the original ownership.
21 May 2026 · The Ghanaian Times →
A three-member Court of Appeal panel has unanimously overturned the Bank of Ghana's 2019 revocation of GN Savings and Loans Company Limited's operating licence, ruling the central bank's decision was unfair and unreasonable. The court ordered the Receiver to return possession, management and control of the company to its shareholders, though restoring the licence and resuming regulated banking activity remain separate processes.
21 May 2026 · Joy Online →
The Court of Appeal unanimously quashed the High Court's decision upholding the Bank of Ghana's 2019 revocation of GN Savings and Loans Company Limited's license, finding the revocation unfair and unreasonable. The court ordered the receiver to return assets and control to the company's shareholders.
21 May 2026 · Joy Online →