13th June 2024

Dr. Cassiel Ato Forson, Minority Leader

Accusations of partisan favoritism have engulfed the National Investment Bank (NIB), with the Minority in Parliament expressing grave concerns over what they perceive as the bank’s transformation into a stronghold for loyalists of the ruling New Patriotic Party (NPP).

The outcry follows the recent appointment of Tweneboa Kodua Fokuo, the NPP’s Parliamentary Candidate for Manso Nkwanta, as the Managing Director of NIB. Adding to the controversy is the appointment of another politically affiliated individual, a former contender for the Fomena Member of Parliament seat, as the bank’s Deputy Managing Director.

Addressing journalists in Accra on Wednesday, Minority Leader Dr. Cassiel Ato Forson underscored the potential detrimental effects of these appointments on the bank’s operations and neutrality.

Dr. Forson lambasted what he sees as President Akufo-Addo’s disregard for good governance, particularly evident in the alleged politicization of vital institutions like NIB.

“The governance of our country is being eroded under President Akufo-Addo’s watch. Even institutions like NIB, which are crucial for our economic stability, are being infiltrated by party loyalists. Despite the evident struggles and poor governance structure within the bank, it’s disheartening to witness it being used as a shelter for party foot soldiers,” remarked Dr. Forson.

He questioned the wisdom behind appointing a Parliamentary Candidate as the Managing Director of NIB, raising doubts about the approval process overseen by Governor Addison.

“Amidst NIB’s myriad challenges, the President sees fit to appoint a Parliamentary Candidate, someone gearing up for elections in six months, to helm the state bank. It’s astonishing that Governor Addison would sanction such an appointment,” criticized Dr. Forson.

He further emphasized concerns over the Deputy Managing Director’s political affiliations, highlighting a pattern of political entrenchment within the bank’s leadership.

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