Don’t blame government for shut down of GN Savings – Dokua

Government has rubbished claims that it is to blame for the closure of GN Savings and Loans.

A release signed by Deputy Information Minister, Nana Ama Dokua described the attempt by a group of people to link the government and the president of the republic to the action taken by the central bank as unfortunate and without substance.

The response comes after some aggrieved residents of Elmina had accused the Akufo-Addo government of failing to honour its financial obligations to the bank, leading to its collapse.

But the Deputy Minister for Information, in a signed statement stressed the claims are misplaced.

“The claim made by the organisers of the press conference that the woes of GN Savings and Loans had been caused because Government had failed to honor its financial obligations to GN Savings and loan lacks substance given the fact that the Central Bank acted in accordance with the law, ” extracts of the release available to The Ghana Report read.

It added “The Akufo-Addo administration has nothing to gain from the closure of a company belonging to a Ghanaian. ”

The government further revealed that as of August 6, 2019, its indebtedness to GN amounted only to GHC 30.33 million adding that an agreement has indeed been reached between the Ministry of Finance and Groupe Nduom to settle this debt.

However, it noted that in spite of this intervention by the government, “this will not address GN Savings and Loan capital deficit of GH 683.66 million”.

The Deputy Minister is assuring Ghanaians that President Akufo-Addo remains committed to providing and creating more jobs for the Ghanaian people.

Find below the statement explaining Government’s stand on Savings and loan closure