PPP slams BoG boss’ comments on Nduom suit

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    The Progressive People’s Party has lashed out against the Governor of the Bank of Ghana, Ernest Addison following his comments on the suit brought against the party’s founder, Dr. Papa Kwesi Nduom.

    Dr. Nduom has been sued by a US-based equity fund and securities investment company, Birim Group LLC., over allegations that Groupe Nduom, owned by the PPP founder had engaged in several illegalities aimed at solely benefitting the Nduom family and also used his businesses as a vehicle to perpetrate unlawful acts.

    The PPP’s statement notes that at the 100th Monetary Policy Meeting, Mr. Addison claimed 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; that the US court system is more expeditious than our courts, and; that shareholders and directors took assets from the collapsed banks.”

    However, the PPP’s statement, released by its Director of Communications Felix Mantey, has described Mr. Addison’s remarks as “very unfortunate, misleading and mischievous.”

    Mr. Mantey noted that the suit itself represents a “continuation of the deliberate and well-orchestrated smear campaign” against the party’s founder. The PPP alleges that the suit is simply a collaboration between some “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 … Dr. Papa Kwesi Nduom.”

    Read the full statement by the PPP below;