Dr. Papa Kwesi Nduom, the head of GN Savings and Loans, has responded to the Human Rights Court in Accra’s decision to dismiss his application, along with that of GN Savings and Loans, regarding human rights violations allegedly committed by the Bank of Ghana (BoG) in revoking the entity’s license.
The court justified its decision by stating that the central bank was carrying out its lawful mandate in the interest of shareholders and, by extension, the public, and therefore could not be faulted.
Despite acknowledging that the applicants had the necessary capacity and had properly invoked the court’s jurisdiction, the judge proceeded to address substantively the issues of discrimination, unreasonableness, unfairness, and violation of the administrative rights of the applicants.
However, expressing his discontent on his Facebook page, Dr. Nduom commented that the legal process has once again been utilized to delay justice.
He questioned the court’s ruling, particularly in a situation where a bank is deemed insolvent while the government, which controls the bank’s regulator, refuses to settle the money it owes the bank and related companies.
“How can a court rule that a bank is insolvent when the government that controls the bank’s regulator refuses to pay the money it owes that bank and related companies?” he remarked.
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