Breaking news: GN Bank Downgraded to A Savings and Loans Company By Bank of Ghana

The Bank of Ghana has revoked the banking license of GN Bank, belonging to Papa Kwesi Nduom–and the Bank is now Savings and Loans.

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This was after the central bank finished what it describes as the banking resolution requiring each commercial bank operating in the country to have a minimum capital of 400 million cedis–which GN seems to have not been able to meet.