Government has denied reports that the President, Nana Akufo Addo is behind the closure of some Group Nduom Savings and Loans Company and 22 others.

According to the Information Ministry, the operating licenses of GN Savings and Loans was revoked by the Central Bank due to “Insolvency and Liquidity Challenges”.

The information Ministry’s reaction comes on the back of a press conference held by some aggrieved residents of Elmina on Wednesday August 21,2019 at Elmina in the Central region. The aggrieved residents, at the Press Conference accused President Akufo Addo of scheming to render the President of Group Nduom, Papa Kwesi Nduom poor.

According to the group, Dr.Nduom who is also the flagbearer of the Progressive Peoples Party also has businesses in Kyebi, the hometown of the President and therefore revoking the license of GN Savings and Loans will affect others in kyebi too but in a statement signed by a Deputy Information Minister Nana Ama Dokua Asiamah-Adjei described the accusations against the President as “unfortunate and unwarranted”.
Find below full statement:


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