[2024]DLHC17202 • January 24, 2024 • High Court
DR. PAPA KWESI NDUOM, COCONUT GROVE BEACH RESORT APPLICANTS AND CONFERENCE CENTRE LIMITED & GROUPE NDUOM LIMITED vs. BANK OF GHANA, THE ATTORNEY GENERAL AND GN SAYING AND LOANS COMPANY LIMITED
The Applicants, shareholders and members of GN Savings and Loans Company Limited (3rd Respondent), challenged the revocation of the 3rd Respondent's specialized deposit-taking license by the Bank of Ghana (1st Respondent) on grounds of insolvency. They alleged violations of their constitutional rights to administrative justice, property, equality, and non-discrimination, contending that the 3rd Respondent was solvent due to substantial government debts owed to affiliated companies and that the revocation was arbitrary and unfair.
read moreRULING INTRODUCTION The instant action is founded on Chapter Five Rights under the Constitution of the Republic of Ghana, 1992. In this action, this Court is called upon to investigate whether or not the alleged violation of the rights of the Applicants vis a vis the revocation of the licence of the 3rd Respondent in receivership, as a specialised deposit-taking institution by the 1st Respondent on 16th August 2019, is made to entitle them to the reliefs sought. It is to be noted that even wnere it is found that the Applicants in this Court do have some rights, the principle is that no human right is absolute, same being subject to Article 12 (2) of the 1992 Constitution which provides that: Every person in Ghana, whatever his race, place of origin, political opinion, colour, religion, creed or gender shall be entitled to the fundamental human rights and freedoms of the individual contained in this Chapter but subject to respect for the rights and freedoms of others and for the p...