Dr. Papa Kwesi Nduom

Chairman of GN Bank Dr Papa Kwesi Nduom, will lead a team of indigenous bank officials to begin a tour of the ten regions.

 The tour, christened: “Stop The Panic Withdrawals And Strengthen Our Indigenous Banks,” will start today (Wednesday, 3rd October, 2018).

This was announced in a statement issued from the Office of Dr Papa Kwesi Nduom yesterday in Accra.

According to the statement, the team will use the opportunity to thank the customers who have remained loyal and kept their monies with the indigenous banks.

Today, the statement revealed that, the team will make stops at Abbosey Okai, Agbogbloshie and Makola— all in Accra—where GN Bank has thousands of customers.

Officials of other indigenous banks will be encouraged to join the team, the statement added.

Furthermore, the statement said, Dr Nduom will use the platform to advice shareholders, directors and employees of indigenous banks to correct all problems pointed out to them by the regulator, Bank of Ghana and ensure they implement good governance practices.

“Since the collapse of seven indigenous banks, there has been a lot of speculation that others are not strong and will collapse. This has fuelled a run on the banks, particularly since the beginning of August. Thousands are flocking the banking halls out of panic and the fear that they may lose their hard earned monies.

…In spite of the above the fact, NO DEPOSIT CUSTOMER HAS LOST ANY MONEY DUE TO BANK FAILURE IN GHANA.

Also it recalled that on 2nd August, the Minister of Finance, Mr Ken Ofori-Atta, in a statement said ‘To further strengthen the indigenous banking sub-sector, the Government is considering various structures through which it can provide financial support to help other indigenous banks…’

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