Claim: President Mahama has restored GN Bank’s licence
Source: Social Media
Verdict: False
Researched by Nusrat Essah
Claims circulating on social media since September 27, 2025, suggest that President John Dramani Mahama has restored the banking licence of the Groupe Nduom (GN) Bank owned by Dr Papa Kwesi Nduom.
A Facebook post showing a photo of President Mahama and Dr Papa Kwesi Nduom, who is the founder of the Progressive People’s Party (PPP), shaking hands, was captioned: “Gn Bank is back. As his licence has been restored!!Thanks to H.E. President Mahama. Commencing 2026.” The post has gained 3,400 comments, 41,000 likes, and 1,000 shares.
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Fig.1-Screenshot of post on Facebook
On X, a post shared with the photo of President John Mahama and Papa Kwesi Nduom was captioned: “Kudos to President John Mahama and the government for working tirelessly to ensure GN Bank and other collapsed banks bounce back stronger next year.” This post also gained 39.6K views, 34 comments, 172 reposts, and 2.3K likes.
Fig.2 – Screenshot of post on X
Another post on September 28, 2025, said: “Back in 2019, under President Akufo-Addo, GN Bank’s licence was revoked. But yesterday, President Mahama restored the licence to Dr Paa Kwesi and assured Ghanaians that the bank will be fully operational next year. Big Kudos to President Mahama and his government team!”
This report seeks to verify whether President Mahama has restored the licence of GN Bank.
Fact-Check
In June 2024, then presidential candidate John Mahama, during his campaign, pledged to restore collapsed banks and financial institutions after a thorough assessment, once elected.
“After a thorough and unbiased assessment, collapsed banks and financial institutions shall be restored,” he said in the JohnMahamaLIVE interaction on June 9, 2024.
In July 2024, during a meeting with John Mahama, Papa Kwesi Nduom appealed for the restoration of GN Bank’s licence should Mahama win the December 2024 elections.
Screenshots of Dr Nduom appealing to Mahama
The image circulating with the current claim is old and was captured when Dr Nduom petitioned the President in July 2024.
Furthermore, since President Mahama won the election and was sworn into office, there has been no official statement confirming the restoration of GN Bank’s licence.
GhanaFact searched the official social media page of the Presidency, the Minister of Government Communications, Felix Kwakye Ofosu, and the Bank of Ghana, but found no information regarding the restoration of GN Bank’s licence. Our emails to known BoG addresses were not delivered.
PPP official speaks
During an interview on Onua FM’s Yen Nsempa show on October 1, 2025, the Director of Operations of the Progressive Peoples Party (PPP), Divine Nkrumah, debunked the claim, saying the licence cannot be restored because of an ongoing Court of Appeal case.
This is what ensued between Divine Nkrumah and Kwame Appiah Kubi.
Host: “Is Paa Kwesi Nduom there? I heard he has gotten back his licence, so he will be resuming work at GN Bank soon.”
Divine Nkrumah: “The story is not accurate, it is not a true reflection of what is happening on the ground. The discussions around the restoration of the license are ongoing. But where it is right now is that…
“You know, at the time of the revocation of the licenses of all the banks, some of the owners, the CEOs and the management were sued by the government for either misappropriation, mismanagement, financial whatever. But in the case of GN Bank, Dr Nduom was not sued; he rather sued the government.
“At the first ruling, the court upheld the Bank of Ghana’s decision to revoke the licence. Subsequently, GN and Dr Nduom went to the Court of Appeal because they did not accept the outcome of the first ruling.
“So, as we speak, the case is still in court, and there’s a legal vacation. So because of the ongoing court case, it is impossible to restore the licence even if the President, the BOG or any other person wants to.”
Host: “So it is not true, like we see on social media, that GN Bank’s licence has been restored?”
Divine Nkrumah: “No, it is not true.”
Verdict
Therefore, the claim that the GN Bank’s licence has been restored is False.
