Minority caucus opposes appointment of NPP parliamentary candidate as NIB's new MD

The Minority in Parliament has expressed strong opposition to the appointment of Mr. Tweneboah Kodua Fokuo, the NPP Parliamentary Candidate for Manso Nkwanta, as the new Managing Director of the National Investment Bank (NIB).

According to the Minority, this appointment signals the politicization of State-Owned Enterprises, raising grave concerns about the government's capacity to effectively manage national resources.

They

Read full articleargue that such a move undermines public confidence in both the government and the Bank of Ghana, especially regarding the revival of the struggling bank.

Dr. Kwabena Donkor, the Ranking Member of the Committee on Employment, Social Welfare, and State-Owned Enterprises, emphasized the urgent need for a management team with the requisite skills to navigate the NIB's recovery process effectively.

"The National Investment Bank is distressed and on life support. It is in dire need of a management team with the requisite skills and competencies to engineer and manage a recovery programme of a medium-term nature.

"To appoint a Parliamentary Candidate six months into an election beggar’s belief," he said.

Calling for a reconsideration of the appointment, Dr. Donkor urged the Akufo Addo-Bawumia government to prioritize the integrity and long-term viability of the NIB.

"The appointment of a Parliamentary Candidate to a key banking position like this undermines public trust and confidence in the government’s ability to manage our national resources effectively.

"We demand the reversal of this appointment and a more transparent and impartial selection process that prioritises merit, competence and meritocracy over political affiliation," he stated.