GN Bank collapse: Does anyone know what I did to Ken Ofori-Atta? – Nduom asks

Business Consultant and Founder of the Progressive People’s Party (PPP), Dr Papa Kwesi Nduom, has revealed that he does not know how he may have offended former finance minister Ken Ofori-Atta to warrant the treatment he got when Ken Ofori-Atta was finance minister and presided over the collapse of banks and other financial institutions.

Dr Nduom suggested that his businesses were targeted unjustifiably under Ken Ofori-Atta’s tenure as finance minister for reasons he does not know.

He added that he could not answer questions regarding how he may have wronged Ken Ofori-Atta for the raw deal he suffered under his leadership at the finance ministry.

“Many, many people have asked me the following question these past two weeks:

“What at all did you do to Ken Ofori-Atta?

“Does anyone have the answer(s)?” he quizzed on social media.

In response, Kofi Asamoah-Siaw, who was the General Manager of GN Bank, noted that Ken Ofori-Atta was an enemy of progress who couldn’t stand Dr Nduom’s competitive edge and entrepreneurial spirit.

“I have the answers – 1. You were too difficult to beat in a competitive environment. 2. You had the biggest investment firm in Ghana when his firm was the first to be established. 3. As for GN Bank, your mistake was to send your signature everywhere. That is what you did wrong to an enemy of progress and someone who thinks Ghana belongs to his grandfather,” Kofi Asamoah-Siaw wrote.

In 2019, under the government’s banking sector clean-up, GN Bank (which had become GN Savings and Loans), a company owned by Dr Nduom, had its operating license revoked over reasons of insolvency by the Bank of Ghana.

GN Bank took the matter to court.