The parliamentary minority is vehemently opposed to the appointment of Manso Nkwanta’s NPP parliamentary candidate, Tweneboa Kodua Fokuo, as the new managing director of the National Investment Bank (NIB).
In a press release signed by Dr Kwabena Donkor, Senior Member of the Employment, Social Welfare and State-Owned Enterprises Committee, opposition MPs expressed concern about the politicization of state-owned enterprises (SOEs).
They said such appointments undermine public confidence in the government’s ability to effectively manage national resources.
NDC MPs described this as a political appointment and said a leadership team with strong management skills and a strong restructuring plan is needed to revive the bank, which is currently on “life support”. claims.
“The appointment of parliamentary candidates less than six months after the start of elections is unbelievable. The integrity, or lack thereof, in this appointment shows that the government and the Bank of Ghana will not be able to resuscitate an ailing bank. It clearly shows that he has no interest in milking dying cows.
“The despicable ideology behind this appointment must be condemned by all Ghanaians of goodwill,” the statement read.
This comes after it was announced that Mr Tuneboa Kodua Fokuo has been appointed Managing Director of the National Investment Bank (NIB), replacing Mr Samuel Sarpong.
His appointment will be effective from Monday, May 13, 2024.
In a memo sent to staff, the bank said Fokuo was appointed by “major shareholders.”
He also explained that Mr. Philip Ofori-Asante has also been appointed as Deputy Managing Director, succeeding Mr. Fokuo.
However, the parliamentary minority maintains that the Bank of Ghana is obligated by Act 612 to approve all senior bank appointments in the banking and deposit-taking sectors.
As such, the central bank has a legal responsibility in its regulatory role to halt the appointment “assuming the president was misled by his advisors due to obvious political considerations.”
The minority called on President Akufo-Addo to reconsider Fokuo’s appointment and prioritize the integrity and business sustainability of the National Investment Bank.
“We withdraw this appointment and demand a more transparent and fair selection process that prioritizes merit, ability and meritocracy over political affiliation,” they added.
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