IN THE MATTER OF ARTICLES 23, 33 AND 296 OF THE 1992 CONSTITUTION OF THE REPUBLIC OF GHANA AND IN THE MATTER OF AN APPLICATION BY IDEAL FINANCIAL HOLDINGS LIMITED FOR THE ENFORCEMENT OF ITS FUNDAMENTAL RIGHTS TO ADMINISTRATIVE JUSTICE AND IN THE MATTER OF SECTIONS 16(1) AND 123(1) OF THE BANKS AND SPECIALISED DEPOSIT - TAKING INSTITUTIONS ACT, 2016 (ACT 930). IDEAL FINANACIAL HOLDINGS LIMITED V. THE BANK OF GHANA & ERIC NANA NIPAH, THE RECEIVER AND IDEAL FINANCE LIMITED.

JUDGMENT

The Applicant filed an originating notice of motion in this court’s registry on 27/11/2019, for the enforcement of its fundamental right to administrative justice, pursuant to Order 67, rule 2(1) of C.I. 47 on the following grounds;

i. 1st Respondent exceeded its powers under the Act when it failed to adhere to and follow through the requirements of section 16 of Act 930 and proceeded to revoke IFL license after initiating engagements with IFL under the aforesaid Section of the Act.

ii. 1st Respondent exceeded its powers under the Act when it revoked IFL’s license on the grounds stated in its release of 16 August, 2019 (Exhibit P) when the Act had clearly specified the sanctions for breach of the provisions relied upon to revoke IFL license.

iii. that the revocation of IFL’s license was unfair and unreasonable having regard to all the circumstances of the case.

iv. That the revocation of applicant’s license was done on breach of IFL’s right to Administrative justice and process.

v.…