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Nduom bears teeth with BoG Governor


The Progressive Peoples Party (PPP), which is founded by businessman Dr Papa Kwesi Nduom, has expressed severe disapproval over comments made by Governor of the Bank of Ghana (BoG), Dr Ernest Addison in relation to the money laundering suit against Dr. Nduom in the United States of America (USA).

They described the claims by Dr. Addison as factually inaccurate, unfortunate and misleading.

A statement signed by Director of Communications for the PPP, Felix Mantey, described the Governor’s comments as second wave of vicious attacks against the person of Dr. Nduom and also a face-saving exercise for a botched and politically motivated financial sector reform.

“This statement is to address and respond to a number of inaccurate, unfortunate and misleading remarks made by the Governor of the Central Bank, Dr. Ernest Addison” part of the statement reads.

It will be recalled that in response to a question relating to the suit filed by Birim LLC against Groupe Nduom in the United States, at the 100th Monetary Policy Meeting, the BoG Governor stated that,  the suit is evidence out there that the BoG’s financial sector reform was not a political witch-hunting exercise especially in relation to GN Bank.

He also mentioned that, the US court system is more expeditious than our courts that shareholders and directors took assets from the collapsed banks.

Mr Felix Mantey, described the explanation from the Governor as unfortunate, misleading and mischievous.

Meanwhile, the PPP’s director of communication alleged that, the suit against his boss is a machination by the Akufo-Addo administration to destroy the business man and to divert attention of the general public from their imperious decision to collapse the banks.

“On this statement, we wish to state that the suit filed in the United States by Birim LLC is actually a continuation of the deliberate and well-orchestrated political smear campaign against a Ghanaian businessman and politician, Dr. Papa Kwesi Nduom by some elements in the current administration. We see the suit as an attempt to divert attention from the negative image that the government has suffered for its high-handedness in the reform agenda”.

“The suit is an attempt by elements in the government, working with their collaborators, to strenuously seek some form of external or third-party vindication for their deliberate collapse of the businesses of the veritable entrepreneur, Dr. Papa Kwesi Nduom”.

He added that, the governor’s comment is a corollary to the bizarre suit and an unfortunate attempt to give the suit a cloth of legitimacy and currency. He also, accused the governor of playing politics with the issue.

“The Governor of the Bank of Ghana is seemingly rejoicing over something which has not taken place. Is he sitting in Ghana pronouncing victory for a case in the US which has just begun? The Governor has left his field of expertise and is now acting like a clear political foot soldier. In fact, the BoG Governor was so much in a hurry to vilify Dr. Nduom that he refused to notice that the suit in the United States side-stepped his own instituted procedure for claims against the so called companies under receivership. Some faceless entity like Birim LLC has conspired with Margaret Sekyere to IGNORE your own stated procedures, and yet you are happy to report their actions as a vindication of the deliberate collapse of Ghanaian companies”, the statement added.

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