Dr Papa Kwasi Nduom Dr. Papa Kwesi Ndoum, Chairman of the Group Ndoum, has expressed strong confidence that the banking license of GN Bank, which was revoked in 2019, will be reinstated by the next political administration after the 2024 general elections. The Bank of Ghana (BoG) in late 2018 reclassified GN Bank as GN Savings and gave it a six-month period to meet specific requirements. This was after GN Bank was unable to meet the Bank of Ghana's minimum capital of GH¢400 million by December 31, 2018. When the six-month period elapsed, the BoG in August 2019 revoked GN bank's licence together with 22 other insolvent savings and loans companies and finance houses.