The Vice President of Group Ndoum, the owners of GN Savings and Loans, Nana Ofori Owusu, has welcomed the Court of Appeal’s ruling in favour of the institution, describing it as a significant vindication after seven years of legal contestation.
According to him, the group has consistently maintained a single position throughout the period, that it committed no wrongdoing to justify the decision by the regulator (Bank of Ghana) to revoke its operating licence.
“We have said that there is nothing that we have done that warranted the decision of the Bank of Ghana, and we said this and consistently held this position. We believe that when you work towards righteousness, and you believe that you have been generally wronged, the time is the revealer of all truth, and today, time has revealed the truth that GN Bank has done nothing wrong to warrant what was done to us,” he said on JoyNews The Pulseon Thursday, following the Court’s verdict earlier on the same day.
He argued that the action by the Bank of Ghana was unwarranted, insisting that the financial institution had always operated within the bounds of due process and regulatory expectation.
He said the judgment represents a moment of profound relief and satisfaction for the founder, Papa Kwesi Nduom, and his family, adding that the ruling reinforces their long-held conviction that the institution acted appropriately.
The group described the outcome as not merely a legal victory, but a restoration of institutional confidence and reputation, marking what they believe to be a decisive turn in a long and arduous corporate legal journey.
