PPP to merge with NDC to Wrestle Power from NPP in 2020 Elections – Nduom
The founder of Progressive People’s Party PPP and Founder of Group Nduom has revealed that, since the coming of the New Patriotic Party (NPP) back to power only serves as the genesis to his fall, he has then referred to the coming of Akufo Addo’s administration as his downfall thus as a mistake that he would never be repeated.
For some time now, Dr. Paa Kwesi has gone through a lot of renaming. He once was “Adwuma Wura”, then it became “Susu Wura”.
But as we speak, He is now “Eka Wura” because He has a lot of money to pay to his grieved GN Bank customers.
The latest information reaching NewsDesk indicates that Dr. Paa Kwesi Nduom together with PPP has agreed to join hands with the largest opposition party in Ghana, the National Democratic Congress (NDC).
This particular initiative is to help wrestle power from the New Patriotic Party (NPP) who almost collapsed his business.
GN Savings illegally transferred $62 million of depositors’ Cash to a foreign firm – Bank of Ghana
An investigation by the Bank of Ghana has revealed that GN Savings and Loans moved a whopping $62 million of depositor’s funds to a foreign firm without documentation.
The company in question is the International Business Solutions, another company owned by Groupe Nduom which is based in the U.S.A, without any documentation to support such transfers in breach of section 19 of the Foreign Exchange Act 2006, Act 723, Section IV of Bank of Ghana.
“A recent Bank of Ghana investigation conducted at GN revealed that a significant amount (USD62,255,516.93, GBP718,528.59 and EUR4,200) of depositors’ funds held with GN had been transferred to International Business Solutions (another company owned by Groupe Nduom and which is based in the U.S.A) without any documentation to support such transfers in breach of section 19 of the Foreign Exchange Act 2006, Act 723, Section IV of Bank of Ghana Notice No. BG/GOV/SEC/2007/4, and subsequent Bank of Ghana Notices issued in August 2014 prohibiting such practice,” the BoG explained the rationale for the shut down of GN Bank.
The central bank in a statement further noted that GN is yet to publish its 2018 audited accounts contrary to section 90 (2) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
“Furthermore, the company did not keep accounting records in a manner that gives an accurate and reliable account of the transactions of the company, and did not, therefore, show a true and fair view of its operations,” the BoG said.