The Court of Appeal has in a unanimous decision restored the licence of GN Savings and Loans Company Limited, according to a report by graphic.com.gh on Thursday, May 21, 2026. The three-member panel of the Court of Appeal delivered the ruling, setting aside the earlier revocation of the licence by the Bank of Ghana.
The decision marks a significant legal victory for GN Savings and Loans, which had its licence revoked in 2019 as part of the Bank of Ghana's financial sector clean-up exercise. The company had challenged the revocation in court, arguing that the process was flawed.
Details of the court's reasoning were not immediately available, but the ruling is expected to have implications for other financial institutions that lost their licences during the same period. The Bank of Ghana has not yet issued a statement on the ruling.
