Dr Gideon Boako, spokesperson for the Vice President, Dr Mahamudu Bawumia, says claims by Chairman of Groupe Nduom, Dr Papa Kwesi Nduom that the government’s indebtedness to GN Savings and Loans caused its collapse are false.
According to him, the government rather owes contractors who are indebted to GN Savings and Loans.
To Dr Boako, Dr Nduom is only throwing dust into the eyes of Ghanaians and therefore should be disregarded.
“It is not true that government owes GN Savings and Loans. Government rather owes contractors about GH¢30 million. That is what we aware. And so the money they are referring to is false,” he told Accra based Okay FM, monitored by Adomonline.com
D Nduom has said that the government’s indebtedness to GN Savings and Loans caused the collapse of his company.
But, Dr Boako believes GN Savings and Loans made a mistake by advancing customers’ deposits to Gold Coast Security, a subsidiary company that breached the regulatory requirements by advancing loans to contractors.
Source: Adomonline.com | Dorcas Abedu-Kennedy