Claims circulating on social media that President John Dramani Mahama has restored the banking licence of GN Bank are false, according to findings from independent checks.
Since September 27, 2025, several posts on Facebook and X (formerly Twitter) have alleged that the licence of Groupe Nduom (GN) Bank, owned by businessman and politician Dr Papa Kwesi Nduom, has been reinstated by the President.
One widely shared Facebook post featured an image of President Mahama shaking hands with Dr Nduom and was captioned: “GN Bank is back. As his licence has been restored!! Thanks to H.E. President Mahama. Commencing 2026.” The post attracted thousands of reactions and shares.
Similarly, a post on X praised the President for allegedly working to ensure the return of GN Bank and other collapsed banks, while another post claimed the licence had officially been restored following its revocation in 2019.
These claims prompted a verification to determine their accuracy.
What the Facts Show
In June 2024, then-presidential candidate John Mahama stated during a public engagement that any collapsed banks could only be restored after a thorough and unbiased assessment. He made the comment during the JohnMahamaLIVE interaction on June 9, 2024.
A month later, in July 2024, Dr Papa Kwesi Nduom met with Mr Mahama and appealed for the restoration of GN Bank’s licence should he win the December 2024 elections.
However, the image currently being circulated online is not recent. It was taken during that July 2024 meeting and does not signify any approval or restoration of the bank’s licence.
Since President Mahama was sworn into office, no official statement has been issued by the Presidency, the Ministry of Government Communications, or the Bank of Ghana confirming the reinstatement of GN Bank’s licence.
Checks conducted on the official platforms of the Presidency, the Minister of Government Communications, Felix Kwakye Ofosu, and the Bank of Ghana revealed no announcement supporting the claims. Attempts to reach the Bank of Ghana through official email channels were unsuccessful.
PPP Confirms Licence Not Restored
Further clarification came from the Progressive People’s Party (PPP). Speaking on Onua FM’s YÉn Nsempa programme on October 1, 2025, the party’s Director of Operations, Divine Nkrumah, categorically denied the claim.
He explained that GN Bank’s licence cannot be restored at this time due to an ongoing Court of Appeal case.
According to Mr Nkrumah, while many bank executives faced prosecution following the banking sector cleanup, Dr Nduom instead challenged the government’s decision in court. Although the initial ruling upheld the Bank of Ghana’s revocation, GN Bank subsequently appealed the decision.
He stressed that the matter is still before the courts and remains unresolved, making any restoration legally impossible.
Verdict
Based on available evidence and official confirmations, the claim that President John Dramani Mahama has restored GN Bank’s banking licence is false.
By Divine Davis Gidi | GhanaNews24
