Economic Advisor to the Vice President, Dr. Gideon Boako has disclosed that the government in any way does not owe Groupe Nduom as it is been speculated by the company.
According to him, their checks indicate that Groupe Nduom gave money to contractors through their Gold Coast Security Investment portfolios and not the bank (GN Bank).
Speaking on Okay FM’s 'Ade Akye Abia' program, he explained that their checks reveal that Groupe Nduom made or entered into a wrong investment which was unprofitable to the financial institution.
"This made the company run into a loss, and that investment of some individuals and institutions were locked up," he stated.
"It will also interest you to know that some of the monies were also invested in the personal investment of the Directors of these financial institutions," he said.
In these instances, the government never went into any agreement or contract with Groupe Nduom so the allegation that government owes Groupe Nduom is false, he added.
According to him claims by Groupe Nduom that government owes them is a mirage and has no basis or proof.
"However, the good news is that funds have been provided by the government for the receiver to pay off depositors whose cash have been locked up in these savings and loan companies," he told Kwame Nkrumah 'Tikese'
Groupe Nduom is at loggerheads with the government over the size of the debt.
The Finance Ministry has said the government owes Groupe Ndoum ¢30million, But the conglomerate puts the debt at ¢300million.
Groupe Nduom has said one of its subsidiaries, Gold Coast Securities, is owed ¢2.2billion after financing several government projects.
Watch interview below
Source: Isaac Kwame Owusu/Peacefmonline.com/[email protected]
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Fact is GN has published the list of debtors, I never saw government on that list.
Dont Worry, We Voted you into Government and this is the nonsen.sks you are telling us. The man says he gave the money to contractors who executed government contracts and your Government has decided to selectively refuse to pay those contractors knowing very well that those monies are eventually owed to Gold Cost Securities and ultimately to us the Investors. Dont Worry, just Remember this about those of us floating voters who actually brought NPP to power Assuming NPP=5 votes NDC=3 Votes 1. If i decide NOT to vote for NPP again, the effect is Minus 1 vote NPP=4 NDC=4 2. If i decide NOt to vote for NPP and go ahead to vote for NDC, NPP will loose 2 Votes from me alone. NPP=4 NDC=5 Again, i know your so called men will not understand this simple mathematics.
I weep for this nation to have shady characters like this in government. i don't blame him, he doesn't now how to set up a business but rather destroy people's hard earned businesses. God punish these criminals
hmmmmmm gideon paaaa nie? now politics has become cheap and loose like ssakawa,anything can wear a coat and ***barred word*** on people with track record of entrepreneurial spirit ..case will come one,asem b3ba dabi
If gov't does not owe Group Ndoum, why did the finance minister write to the BOG that the debt they have established and verified is only GHC30M. We should not let belly-full cloud our judgement.
Is it the govt as in GoG that owes GN or some who other persons who owe GN but claim govt also owe them??? GN should come clear and with proof.