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Banking crisis: BoG ‘dragging its feet in court case with Nduom

The  Bank of Ghana’s(BoG) appears to be dragging its feet in the case involving businessman Dr Papa Kwesi Nduom and others, Today can report.

At an Accra High Court (Human Rights Division) Tuesday, the lawyers for the defunct GN Bank owned by Dr Nduom were told the receiver filed a response on Monday, January 20, 2020 when the order of the four was for them to file on Friday, January 17, 2020.

It would be recalled that an Accra High Court (Human Rights Division), presided over by Justice Gifty Adjei-Addo ruled on 18 December 2019 that Dr. Nduom and others could not be compelled to go for arbitration under the law in respect of their claim of human rights violations by the Respondents (Bank of Ghana and others).

The court, therefore, dismissed an application by the BoG to compel Dr. Nduom to go for arbitration under the Banks and other specialized deposit-taking companies act 2016, Act 930.

The court ordered the BoG and the Attorney General to file their Responses one week before the next hearing date which was yesterday.

Interestingly, BoG, according to our investigations Tuesday filed for stay of proceedings.

This, Today understands, means they were not happy with the ruling of the Court about the jurisdiction of the high court.

“…so they want to take the case up to the Appeals Court because they have the right to respond to the application”, a lawyer explained to Today.

The judge therefore adjourned the case to February 6, 2020.

It would be further recalled that Dr Nduom together with some shareholders of GN Bank/Savings on 30th August, 2019 filed an application at the Human Rights Division of the High Court, challenging the decision of the BoG to collapse GN Savings and Loans Company Limited.

But the BoG in its application raised the issue of jurisdiction, with the case that the High Court was not the proper forum for the legal action

Credit: Today Newspaper

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