Bolgatanga Central MP Isaac Adongo has alleged the systematic collapse of Dr. Papa Kwesi Nduom’s GN Bank in the so-called banking sector clean-up by the Akufo-Addo government is a deliberate attempt to kill his presidential ambition.
According to him, Dr. Kwesi Nduom has lost his Adwumawura title and is now struggling to contain the anger of aggrieved customers who strangely target his signature moustache when venting their frustrations
He wondered whether Dr. Nduom will still have the strength of mind and body to contest President Akufo-Addo for the presidency come 2020.
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Isaac Adongo made the allegation in a paper he delivered at Takoradi Technical University on Thursday. He stated that Finance Minister Ken Ofori-Atta deliberately targeted Dr. Kwesi Nduom to weaken his financial clout and discredit him.
“Dr. Nduom is now being abused by customers who cannot access their funds with his businesses, which have their funds locked with the government and its agencies,” he said.
GN Bank was downgraded to GN Savings and Loans but eventually had its licence revoked by the Bank of Ghana a few months ago.
Meanwhile, aggrieved customers of Gold Coast Fund Management, now Blackshield Fund Management, are on his neck to pay them back their investments.
The lawmaker argued the recent reforms in the financial sector, “have successfully turned a shrewd businessperson such as Dr Papa Kwesi Nduom into a man of hate by persons of all walks of life who are customers of his iconic Gold Coast Fund Management Limited and the GN Bank, which was first tortured before it was downgraded to a savings and loans company and finally collapsed.”
“So, if this was not a deliberate attempt to incapacitate Dr Kwesi Nduom from staging a comeback, then tell me what it is,” he said.
Dr Nduom has run for president multiple times on the ticket of both the Convention People’s Party (CPP) and the PPP, which he founded after leaving the CPP.
Incidentally, Dr. Ndoum also served as a minister on the New Patriotic Party (NPP) government under President Kufuor even though he was elected to Parliament on the ticket of the CPP.
