The Minority in Parliament has stated that both National Investment Bank (NIB) to the Agricultural Development Bank (ADB) have space to survive.
According to the NDC MPs, the move smacks of conflict of interest since the Bank of Ghana owns over 60% stake in ADB.
“We believe there is space for NIB to survive, we believe there is space for ADB to also survive. Ghana deserves NIB and Ghana deserves ADB. They have special mandate and it should be respected as such our position as NDC Minority is simple we have in the past three weeks constitute a technical committee head by the ranking member of Finance Committee who is chartered account and deputy who is also a banker have come out with strategy to safe the NIB and ADB,” the Minority Cassiel Ato Forson during a press conference in Parliament.
On his part the ranking member for Finance Committee, Isaac Adongo accused the Nana Addo administration of seeking to sell NIB to cronies through the backdoor.
The Bolgatanga Central MP shared some ideas with government which he believes can make the troubled NIB stand on its feet without government selling it off.
“Ladies and Gentlemen, it is instructive to note that every viable and constructive alternative proposals by well- meaning Ghanaians aimed at resolving the problems of NIB to retain and revive a largely systemic Bank were bluntly ignored.
“NIB’s biggest problem is that it is suffering from capitalization deficit of GHC2.4 billion. However, a casual review of NIB’s balance sheet shows that a restructuring of the balance sheet can generate in excess of GHC2.75 billion to wipe of the GHC2.4 billion and leave a free shareholders fund and equity of about GHS350 million towards recapitalization and a total cash injection of GH2.8b. It is therefore puzzling that anybody sitting on this gold mine will attempt to give it out to somebody for peanut.”
Source: Ghana/Starrfm.com.gh/103.5FM
