Supreme Court suspends enforcement of ruling restoring GN Savings licence

The Supreme Court has ordered a stay of execution of the Court of Appeal's decision directing the Bank of Ghana (BoG) to restore the operating licence of GN Savings and Loans Limited.

The order effectively suspends the implementation of the appellate court's ruling until the country's highest court determines an appeal filed by the central bank.

The Bank of Ghana challenged the Court of Appeal's judgment after it ruled that the regulator should reinstate the licence of GN Savings and Loans, which was revoked during the financial sector reforms undertaken by the central bank.