Govt approves GH¢2.3bn to restructure and recapitalise NIB

The government has approved GH¢2.3 billion for restructuring and recapitalizing the National Investment Bank (NIB), with the first GH¢400 million tranche to be transferred by the end of May 2024.

Dr. Mohammed Amin Adam, at the Ministry of Finance's briefing, outlined the plan to strengthen NIB's governance, operational efficiency, supervision, and risk management.

This move aims to enhance the bank's financial viability.

However, the Minority Caucus in Parliament has criticized the plan, alleging it is a scheme to sell NIB to government cronies, potentially merging it with the Agricultural Development Bank or collapsing it for state capture.