The Minority in Parliament has kicked against the appointment of Mr. Tweneboah Kodua Fokuo, who is the governing New Patriotic Party (NPP) Parliamentary Candidate for Manso Nkwanta as the new Managing Director for the National Investment Bank (NIB).
In a statement by the National Democratic Congress lawmakers stated that the appointment raises serious concerns about the politicization of State Owned Enterprises, adding that 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.”
Below is the full statement
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. 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 and the 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 and competence over political affiliation.”
Kwabena Donkor Ph.D., FCMI, FRSA, MIEn. RThe 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. 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 and the 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 and competence over political affiliation.”
Kwabena Donkor Ph.D. Ranking Member, Committee on Employment, Social Welfare and State Owned Enterprises
Source: Ghana/Starrfm.com.gh/103.5FM
