Bank of Ghana Refutes Claims of GN Bank Licence Restoration

The Bank of Ghana (BoG) has firmly denied reports suggesting that it intends to restore the banking licence of GN Bank, clarifying that no such decision has been taken. The central bank stated that claims circulating in the public space are false and misleading, and should be disregarded.

GN Bank, which previously operated as a commercial bank, had its licence revoked as part of Ghana’s financial sector reforms and was subsequently converted into GN Savings and Loans Company Limited. According to the Bank of Ghana, this status remains unchanged, and there are no plans to reverse the regulatory decision.

In its clarification, the BoG emphasized its commitment to regulatory transparency, financial stability, and public trust, noting that any changes in the status of financial institutions would be formally communicated through official channels. The central bank warned the public against relying on unverified information and urged customers and stakeholders to seek updates only from credible and authorized sources.

The statement also forms part of BoG’s broader efforts to combat misinformation in the financial sector, which can undermine public confidence and disrupt economic stability. By addressing the rumours directly, the central bank aims to protect depositors, investors, and the general public from confusion and uncertainty.

The Bank of Ghana reaffirmed its dedication to strengthening the financial system, enforcing regulatory standards, and ensuring that all licensed institutions operate in accordance with Ghana’s banking and financial laws.

Source: Thepressradio.com