GN Bank debt of GH¢7.1bn not disputed by govt – Movement Spokesperson

Atta Kwaku Boadi, the spokesperson for the Bring Back GN Bank Movement, has stated that the GH¢7.1 billion owed to GN Bank by government agencies has not been contested by any of these agencies.

Speaking with Bernard Avle on the Citi Breakfast Show on Citi FM on Tuesday, May 28, Boadi mentioned that he has personally delivered letters to various government agencies, including GETFund, regarding the debt and none of these agencies disputed the figures, but only indicated that they currently lack the funds to repay the bank.

Atta Poku said the bank’s woes began when the New Patriotic Party (NPP) assumed office in 2017 and claimed the government owed contractors related to the bank GH¢30 million and not GH¢1.8 billion at the time.

“Some of these contractors had contracts with the government and they went to GN Bank for credit guarantees and when the NPP took over, it conducted an audit, and the amount that the bank was owed was GH¢1.8 billion but the government was saying it was GH¢30 million, and even with that, they have not paid the contractors.

“All that we are saying is that the government should pay the contractors so that they also, in turn, pay the bank. I have been to all the agencies that owe GN Bank, and none of them contested the figures, what they all said is that they don’t have money to pay.

“We have sent letters to them and have even requested that they try and bring external auditors to come and conduct an audit but they are not forthcoming.”

Chairman of Groupe Ndoum and owner of GN Bank, Dr. Papa Kwesi Ndoum, over the weekend, claimed that the government still owes two of his companies and other subsidiaries over GH¢7 billion.

Atta Poku also accused the government and the Bank of Ghana of instigating the GN Bank’s collapse.

“Nobody or client of the bank ever complained that they had challenges withdrawing their funds. The revocation announcement made by the Bank of Ghana is what caused the panic withdrawals and subsequent challenges the bank experienced.”

Source: Kabah Atawoge

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