A banking consultant predicts that the legal dispute over GN Savings and Loans will proceed to Ghana's Supreme Court, as one party is likely to challenge the Court of Appeal's recent ruling that restored the company's licence. The consultant noted that the banking sector cleanup has involved multiple court actions and that GN Savings and Loans was one of several financial institutions affected during the exercise.
21 May 2026 · Joy Online →
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 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 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 →
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 →
The Court of Appeal has unanimously overturned the Bank of Ghana's 2019 decision to revoke the operating licence of GN Savings and Loans Company Limited, ordering the receiver to return control of the institution's assets and operations to its shareholders. The ruling ends nearly seven years of litigation stemming from the 2017–2020 financial sector clean-up.
21 May 2026 · Business & Financial Times →
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 →
Parliament resumes sitting on 21 May, marking the start of the Second Meeting of the Second Session of the Ninth Parliament of the Fourth Republic. Lawmakers are expected to deliberate on major bills and policy reforms across transport, energy, justice, security, and governance.
21 May 2026 · Joy Online →