The Supreme Court has ordered a stay of execution of the Court of Appeal’s decision directing the Bank of Ghana (BoG) to restore the operating licence of GN Savings and Loans Limited.The order effectively suspends the implementation of the appellate court’s ruling until the country’s highest court determines an appeal filed by the central bank.The Bank of Ghana challenged the Court of Appeal’s judgment after it ruled that the regulator should reinstate the licence of GN Savings and Loans, which was revoked during the financial sector reforms undertaken by the central bank.By granting the stay of execution, the Supreme Court has preserved the existing legal position, meaning the Court of Appeal’s order cannot be enforced while the substantive appeal is pending.The appeal is expected to settle the legality of the Bank of Ghana’s decision to revoke the company’s licence and determine whether the Court of Appeal was right in directing its reinstatement.The Supreme Court’s final judgment will decide whether the appellate court’s ruling stands or is set aside.