Minority in Parliament rejects appointment of NPP candidate as NIB Managing Director

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

According to the Minority, this appointment signifies a concerning trend of politicization within State-Owned Enterprises and erodes public confidence in the government’s ability to manage national resources effectively.

Dr. Kwabena Donkor, the Ranking Member of the Committee on Employment, Social Welfare, and State-Owned Enterprises, expressed serious reservations about the decision, citing the distressed state of the NIB and the urgent need for a management team equipped with the requisite skills to engineer its recovery.

“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,” said Dr. Kwabena Donkor, the Ranking Member of the Committee on Employment, Social Welfare and State-Owned Enterprises.

He emphasized the incredulity of appointing a Parliamentary Candidate to such a crucial banking position, especially given the timing, just six months before an election.

Dr. Donkor urged the Akufo Addo-Bawumia government to reconsider the appointment and prioritize the integrity and sustainability of the NIB.

The Minority’s stance underscores their call for a transparent and impartial selection process based on merit and competence rather than political affiliation, demanding the reversal of Mr. Fokuo’s appointment.

“We urge the President Akufo Addo/Dr Bawumia government to reconsider this appointment and prioritise the integrity and business sustainability of the National Investment Bank. 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.”