Jan 9, 19
From ‘Edwumawura’ to ‘Susuwura’ – Social media trolls Dr Papa Kwesi Nduom
Ghanaian social media trolls mostly led by opposition National Democratic Congress elements are not sparing embattled Businessman and Group President of Group Nduom, Dr Papa Kwesi Nduom over the decision of the Bank of Ghana to downgrade his GN Bank to a savings and loans.
According to them, elections have consequences and it serves Nduom right that his GN Bank is now a savings and loans under a government he campaigned to birth.
The Bank of Ghana downgraded GN Bank to a savings and loans company after 31st Night of December when it was clear they couldn’t meet the new capital requirements.
This was after the Central Bank finished what it describes as the banking resolution requiring each commercial bank operating in the country to have a minimum capital of ¢400 million.
At a news conference in Accra, BoG Governor Dr Ernest Addison said an advisor has been appointed for GN Bank to ensure its smooth transition to a micro-finance company.
“GN Bank (GN) was unable to comply with the Minimum Capital Directive by 31st December 2018. Consequently, GN Bank has applied for, and the Bank of Ghana has approved the grant of a savings and loans company licence. The Bank of Ghana has also approved a transition plan submitted by GN for winding down aspects of its business which are not compatible with a savings and loans company licence,” he said.
But since the announcement social media has not sympathized in any way with “The Edwumawura” as Nduom is known.
One particular joke which has gone viral has sought to mock Nduom as having been downgraded from Edwumawura to Susuwura under Akufo-Addo.
The mockery is mostly led by activists of the opposition National Democratic Congress who are accusing Nduom of being one of the people who made the NPP win the last election with his support.
“So Papa Kwesi Ndoum has moved from Edwumawura under NDC to Susuwura under NPP”, the joke went on.
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