Successive govts have looted NIB – Franklin Cudjoe

IMANI Africa President Franklin Cudjoe has accused successive governments of looting the National Investment Bank (NIB).

This follows the Ministry of Finance's announcement of a GH¢2.3 billion restructuring and recapitalization plan for NIB, with GH¢400 million to be transferred by the end of May 2024.

Dr. Mohammed Amin Adam, the sector minister, emphasized the need to strengthen governance and operational efficiency.

Cudjoe criticized the continuous taxpayer funding of the bank despite its financial losses, calling for its closure due to consistent mismanagement and lack of profitability since 2013.