Ghana: NDC MPs Oppose Appointment of New NIB MD

13 May 2024
The Accra Times (Accra)
By Gifty Danso

Minority MPs are protesting the appointment of Mr. Tweneboah Kodua Fokuo, a New Patriotic Party (NPP) Parliamentary Candidate for Manso Nkwanta, who's been recently appointed as the new Managing Director for the National Investment Bank (NIB).

"This appointment raises serious concerns about the politicization of State Owned Enterprises," they said in a statement, adding that the appointment of a politically- -linked person to the state bank undermines public trust.

"To appoint a Parliamentary Candidate six months into an election beggars belief. The National Investment Bank is distressed and on life support thus is in dire need of a management team with the requisite skills and competencies to engineer and manage a recovery program of a medium-term nature. We demand the reversal of this appointment and a more transparent and impartial selection process that prioritizes merit and competence over political affiliation."

- Advertisement -The NDC is not the only entity criticising the choice of the MD. Bright Simons, Vice President of thinktank IMANI Africa, quizzed why a "VERY BUSY parliamentary aspirant for the ruling party should be the CEO of a struggling state-owned bank."

You have a state-owned bank that has been struggling for years. It does not have enough capital & could have been shut down if it was private. Instead of bringing a turnaround specialist to fix it, Ghana govt promotes an MP aspirant who will be campaigning in 2024 as the new CEO! pic.twitter.com/7rmirFVhHO-- Bright Simons (@BBSimons) May 11, 2024

Kodua Fokuo, a banker of 16 years was previously a Deputy Managing Director of the Bank before his appointment which takes effect today, May 13.

Read the original article on Accra Times.

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