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Nduom wins Supreme Court judgement in reclaiming GN Bank

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Nduom wins Supreme Court judgement in reclaiming GN Bank

On Wednesday, July 19, 2023, the Supreme Court upheld the High Court’s determination that it had jurisdiction over the action brought against the Bank of Ghana (BoG) in August 2019.

The determination of the Supreme Court maintains the decision of the High Court and opens the way for judgement.

The matter has now been returned to the High Court for a decision on the principal motion filed.

Justice Gifty Addo-Adjei, now an Appeals Court Judge, indicated in 2020 that she was ready to render her decision.

One technicality after another, used skillfully by BoG attorneys, has caused the litigation to travel for nearly four years.

In August 2019, Dr Papa Kwesi Nduom and others sued BoG and others over the cancellation of the GN Bank/Savings licence.

The Bank of Ghana disputed the High Court’s jurisdiction on the grounds that the Banking Acts provide that if a licence is cancelled by the Bank of Ghana, the proper forum is arbitration, not the court.

The High Court, however, disagreed and continued to hear the case.

The Bank of Ghana appealed and won.

Dr Nduom challenged the Court of Appeals ruling to the Supreme Court, which resulted in today’s verdict.

In a brief comment, Dr Nduom said after the ruling: “On behalf of my entire family and all Groupe Nduom employees, I wish to thank the Lord our God.  It is He who has made this day possible.

“To the five-member panel who reviewed our complaint and agreed with us, we thank you for restoring our faith in the judiciary system. To our brilliant and highly professional counsel Justice Srem-Sai, we say well done!

“Nobody won here today.  Shareholders, employees, government, and customers all have suffered for more than six years – from the uncertainties to the indignities of losing a license; losing scarce jobs, poor health and for some, unfortunately, death.

“We sent petition after petition to the highest levels in the current Administration and Regulators for a win-win settlement but were not successful.  So the courts were and remain our last resort.

“The battle has not ended. We want our license back and our task is clear.  To rebuild “the People’s Bank” and take formal and safe banking to the doorstep of every person living anywhere in Ghana.” 

“It took us nearly 20 years to build our bank only for it to be pulled down in one day.  We have a national duty to build it back step by step.  The end result will be an even better bank than what was pulled down.

“We don’t have time to hate or be against anyone.  We want to get back to work.  We are looking forward to working diligently with the regulator, the Bank of Ghana, to press the start button to bring back GN Bank,” he added.

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Stephen Ntim vows to bring Adoumi back to NPP

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Aduomi denied these allegations, stating that he still enjoys the backing of NDC supporters. In an interview with Citi News, Mr Ntim voiced concern over two candidates from the same party running against each other.

Stephen Ntim, the National Chairman of the New Patriotic Party (NPP), has promised to reconcile independent candidate Kwabena Owusu Aduomi into the party.

Aduomi, a former three-time NPP Member of Parliament for the constituency, chose to run as an Independent Candidate in the Ejisu by-election because he believes the NPP has failed to address critical concerns about the existing delegates’ list, jeopardising the party’s integrity and fairness.

Some NPP members accused him of treason, claiming he deserted to the opposition National Democratic Congress (NDC).

Aduomi denied these allegations, stating that he still enjoys the backing of NDC supporters.

In an interview with Citi News, Mr Ntim voiced concern over two candidates from the same party running against each other.

“Yes, it is worrying because the two main competitors, Aduomi and Kwabena Boateng belong to the same fold, family. We should not be looking at jubilating, I’m not jubilating. My focus now is on how to bring the Aduomi factor back to the fold, bringing him back to the family.

“So that in December when we are going to face the real political opponents, we are going us a unified NPP front. It shouldn’t be difficult at all. Whatever it is, we are going to reach out. As a national chairman, I’m promising you, we will take up the mantle and reach out to him.”

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Ejisu by-election: NPP discloses next steps after narrow victory

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Their vote share fell from 82.83% in 2020 to 55.8% in 2024. Mr. Francis Adomako, the NPP's Ashanti Regional Organiser, acknowledged the lower margin and ascribed the outcome in part to internal party concerns.

Following the Ejisu seat by-election, the New Patriotic Party (NPP) is assessing its achievements and plotting a route for future success.

While their parliamentary candidate, Dr Kwabena Boateng, won with 55.8% of the vote, according to preliminary data, the margin of victory fell short of expectations.

Mr Kwabena Aduomi received 43.3% of the total votes.

Their vote share fell from 82.83% in 2020 to 55.8% in 2024.

Mr Francis Adomako, the NPP’s Ashanti Regional Organiser, acknowledged the lower margin and ascribed the outcome in part to internal party concerns.

In response, the party is preparing to go back to the drawing board, undertaking detailed assessments to find areas for improvement.

Speaking to Joy News, Mr Adomako stated that it is now more important than ever to resolve internal problems and create unity among party members.

He revealed intentions to communicate with disillusioned members, promising to pursue reconciliation and win back those contemplating other options.

He noted that as the country approaches the election later this year, the party must move beyond mere rhetoric to doing action and doing their study.

‘Breaking the 8’ remains the NPP’s ultimate goal, a task that Adomako admitted as difficult but necessary.

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Akufo-Addo chides Ejisu independent candidate over by-election rigging charges

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Speaking at the NPP's penultimate rally before the by-election on Tuesday, April 30, the President expressed indifference to the former NPP MP's choice to leave the party. He also asked the Ejisu electorate to dismiss any of his assertions. "When he beat the incumbent MP, who was also a Cabinet Minister, did the NPP rig the polls in his favour? So, why is he suddenly claiming that we would rig the polls just because he lost to someone else? "Is this fair?" he inquired. The President also targeted anonymous persons or groups who he claimed were influencing Mr Owusu Aduomi. He predicted that they would fail in their quest to take the seat from the NPP.

President Akufo-Addo has taken aim at Kwabena Owusu Aduomi, an independent candidate in the Ejisu by-election who previously ran on the governing New Patriotic Party’s (NPP) ticket in the constituency.

According to the three-time Ejisu MP, the NPP intends to rig the by-election in order to keep the late John Kumah’s seat.

However, in a harsh reaction, President Akufo-Addo warned the independent candidate against using falsehoods in his bid for a return.

Speaking at the NPP’s penultimate rally before the by-election on Tuesday, April 30, the President expressed indifference to the former NPP MP’s choice to leave the party.

He also asked the Ejisu electorate to dismiss any of his assertions.

“When he beat the incumbent MP, who was also a Cabinet Minister, did the NPP rig the polls in his favour? So, why is he suddenly claiming that we would rig the polls just because he lost to someone else? “Is this fair?” he inquired.

The President also targeted anonymous persons or groups who he claimed were influencing Mr Owusu Aduomi.

He predicted that they would fail in their quest to take the seat of the NPP.

“We strongly reject any independent candidate whose past is unknown to us. We don’t know if important persons are influencing their decisions. We refuse to accept this. It is not something we will accept.

As a result, the President asked Ejisu voters to turn out in large numbers and vote for Kwabena Boateng, the NPP’s candidate.

He believes that only the party’s candidate has the authority to advocate for growth in the area.

Again, he underlined the importance of the party having a majority in Parliament.

“We need a parliamentary majority. You’ve seen the difficulties we confront as a result of our existing parliamentary representation.

“Therefore, even if it’s just by one vote, we need a majority to carry out our mission. Kwabena Boateng would cast the crucial vote, he claimed.

Meanwhile, Kwabena Owusu-Aduomi’s campaign is closing up, and his supporters are walking through the streets of Ejisu, encouraging voters to vote for him.

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