Pay us and we will be solvent- GN to Gov’t

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Stephen Nani

Chairman and Chief Executive Officer of Groupe Nduom Savings and Loans, Papa Kwasi Nduom has refuted claims by the Central Bank that GN Savings and Loans is insolvent, leading to the withdrawal of its license.

According to a statement released by the company yesterday, the company denied knowledge of any such action taken by the central bank, stating that if documents being circulated in the media are genuine, “then the statement regarding GN Savings was inaccurate”.

The statement, signed by Papa Kwasi Nduom further stated that claims in the document being circulated was inconsistent with discussions held with the Ministry of Finance and the Bank of Ghana. Mr. Nduom said if government actually pays GN Savings and Loans, the company will have more than the amount required by the Bank of Ghana.

“our Position is that GN Savings is not only solvent, but we would be highly liquid if the MoF simply ordered itself and other government agencies to quickly pay amounts owed GN Savings and other related entities”, the statement said.

Below is a copy of the statement

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