Nduom wants court to reject BoG, Receiver’s evidence
It is the case of Dr Nduom that some documents filed by the central bank and Eric Nana Nipah, such as affidavits, were not signed by the appropriate people.
Justice Srem Sai, the lead counsel for the businessman, also raised concerns about some documents, which he said pertained to GN Bank and not the Savings and Loans company.
Dr Nduom stated that most of the company’s funds had been invested in government projects as loans, which were yet to be repaid.
According to Dr Nduom, the government and state agencies, as of August 14, 2018, owed the company over GH₵600 million.
The loans were advanced to contractors who executed government contracts through ministries and agencies.
He further argued that the BoG and other parties failed to consider the government’s indebtedness to the company, in making a determination on the company’s solvency.
That, he said constituted a violation of rights.