The chairman of Group Ndoum, Dr, Papa Kwasi Nduom has sued the Bank of Ghana and some three other persons for their role in the revocation of the license of GN Savings and Loans.

In an application filed at an Accra high court, parties sued include the Bank of Ghana, finance minister Ken Ofori Atta, the attorney general and minister of justice Gloria Akuffo and receiver for GN Savings and Loans, Eric Nana Nipa.

Among the reliefs been sought by Dr. Nduom include the quashing of the decision by the Bank of Ghana to revoke the license of GN Savings and Loans.

In his statement of claims, Chairman of Group Ndoum, Dr. Papa Kwasi Nduom says contrary to claims by the Bank of Ghana that the company had its license revoked due to the company been insolvent he insisted the company is in good standing and its government infrastructure portfolio is in excess of GH 2.2 billion more than its liabilities.

The writ further adds that the bank of Ghana and its other parties failed to consider the government’s indebtedness to the company in making a determination of its insolvency which they believe constitutes an abuse of their rights.