Information circulating on social media suggests that GN Bank’s licence has been restored. However, no official statement or communiqué has been issued by the Bank of Ghana or the Ministry of Finance to confirm the development.
GN Bank’s licence was revoked in 2019 after the central bank declared it insolvent and unable to meet the required capital threshold. The revocation, which formed part of Ghana’s sweeping banking sector reforms, left thousands of customers distressed and staff unemployed.
The bank’s founder, Dr. Papa Kwesi Nduom, has since fought to clear the institution’s name, insisting that government’s failure to pay debts owed to his companies contributed significantly to the bank’s collapse. His long-standing campaign for restoration has drawn both sympathy and skepticism.
The rumours of GN Bank licence reinstatement has sparked renewed hope among some former customers and workers, many of whom still feel the scars of the 2019 closure.
Court rulings in the past have sided with the Bank of Ghana, affirming that the decision to revoke the licence was legally justified. Regulators have consistently maintained that the action was necessary to safeguard the financial system.
Still, for many, GN Bank was more than a financial institution. It represented access, opportunity, and a symbol of Ghanaian enterprise. The uncertainty surrounding its future continues to stir emotions across communities.
GH EDUCATE will continue to closely monitor the situation and keep readers updated on any official communication regarding the possible restoration of GN Bank’s licence.
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