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GN Bank buildings rotting away following government takeover

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Almost three years after the takeover of Groupe Nduom companies, some staff have expressed regrets about the state of neglect of the financial institutions’ buildings dotted across the country.

GN Bank and GN savings were on August 16, 2019, taken over by Eric Nana Nipah a Receiver appointed by the Bank of Ghana.

Accordingly, the Receiver and his staff moved into GN Bank’s head office at Asylum Down in Accra to execute their duties from there, sacking all Groupe Nduom companies from the building.

According to information gathered by Today Newspaper on the facility, the building was not only occupied by the staff working on the GN Bank matters but those on other collapsed financial institutions were also housed there.

But last Friday, August 5, 2022, almost three years to the date of the takeover, the Receiver’s staff beat a hasty retreat and ran away for their lives. This was because someone shouted that the building was about to collapse.

“So, they all took off to save their dear lives to other buildings taken over by the Receiver including the UniCredit building”, an eyewitness who spoke on a condition of anonymity told Today Newspaper.

A few weeks ago, the paper reported on the state of neglect and the lack of maintenance on the many GN Bank buildings across the country.

According to the paper “the Receiver’s people even in the face of huge evidence including photos and videos, claimed they were doing a good job to maintain assets including over 300 vehicles, generators and many other types of assets”.

On the state of the head office particularly, a manager of Groupe Nduom who spoke under anonymity said “it is amazing that right in Accra, the modern building put up just a few years ago, has presented a prime example of what is happening everywhere.”

“We are presenting and showing these photographs taken just last week Friday to prove our point that the Receiver must do a better job to protect assets they have forcibly taken over”, the Groupe Nduom manager thus said.

The manager noted that three years of neglect of any physical asset will result in financial loss. “What is happening at Asylum Down is a prime example of that”.

Today Newspaper also uncovered the fact that the building does not belong to GN Bank, and the Receiver has refused to pay rent for its occupancy.

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