The Minority in Parliament has oppossed 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).
It is the view of the Minority that the appointment raises serious concerns about the politicisation of State-Owned Enterprises.
Dr. Kwabena Donkor, the Ranking Member of the Committee on Employment, Social Welfare and State-Owned Enterprises opined that the appointment undermines public trust in the government’s ability to manage national resources effectively.
He indicated that the appointment also reflects a lack of integrity.
“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
“To appoint a Parliamentary Candidate six months into an election beggar’s belief.”
“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.”
Below is the full statement
PRESS RELEASE BY THE NDC MINORITY IN PARLIAMENT
The NDC Minority in Parliament strongly protests 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).
This appointment raises serious concerns about the politicization of State Owned Enterprises. The ignoble thinking behind the appointment must be condemned by all well meaning Ghanaians.
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. To appoint a Parliamentary Candidate six months into an election beggars belief. The integrity and or the lack of it in this appointment is a clear sign that the Government and the Bank of Ghana have no desire to resuscitate the ailing Bank but are only interested in milking the dying cow.
The Bank of Ghana Act, 2002 (Act 612) mandates the Bank of Ghana to approve all senior bank appointments in the Banking and Deposit taking Sector. Specifically Section 27 of the Act states ‘The Bank shall have power to:
(a) approve the appointment of directors, chief executives, and other principal officers of banks.
Assuming the President is misled by Advisors for obvious political considerations, the Bank of Ghana in its Regulatory role has a legal responsibility to halt this aberration of an appointment.
We urge the President Akuffo Addo/Dr Bawumia government to reconsider this appointment and prioritize 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 prioritizes merit, competence and meritocracy over political affiliation.
Kwabena Donkor Ph.D., FCMI, FRSA, MIEn.
Ranking Member, Committee on Employment, Social Welfare and State Owned Enterprises
By: Rainbowradioonline.com/Ghana
