Sunday, 23 June

NIB needs to be steered by a skilled mgt team not a politician: Donkor

Business
Dr Kwabena Donkor

Dr Kwabena Donkor, Member of Parliament for Pru East Constituency in the Bono East Region, has vehemently opposed the recent appointment of Mr Tweneboah Kodua Fokuo, the New Patriotic Party (NPP) Parliamentary Candidate for Manso Nkwanta in the Ashanti Region, as the new Managing Director of the National Investment Bank (NIB). 

He denounced the appointment as emblematic of the alarming trend of politicisation within State Owned Enterprises (SOEs) and called for widespread condemnation of such practices.

Expressing grave concerns over the appointment, Dr Donkor underscores the urgent need for the NIB, which is currently distressed and on life support, to be steered by a management team equipped with the requisite skills and competencies to engineer its recovery. 

He highlighted the absurdity of appointing a Parliamentary Candidate just six months ahead of an election to such a critical position, suggesting that the integrity of the appointment raises serious doubts about the government's commitment to revitalising the ailing bank.

Kwabena Donkor, the Ranking Member on the Committee on Employment, Social Welfare and State Owned Enterprises made this comment in a statement dated May 12, 2024. 

Referring to the Bank of Ghana Act, 2002 (Act 612), the Ranking Member emphasised the statutory role of the Bank of Ghana in approving senior appointments within the banking and deposit-taking sector. 

He asserts that the Bank of Ghana, in its regulatory capacity, has a legal obligation to intervene and prevent what it perceives as a misguided and politically motivated appointment.

The MP called upon the government, led by President Akufo-Addo and Dr Bawumia, to reconsider the appointment and prioritise the integrity and sustainability of the National Investment Bank. 

He argued that appointing a parliamentary candidate to a pivotal banking role undermines public trust and confidence in the government's ability to manage national resources effectively.

In conclusion, the Minority MP demanded the reversal of Mr Fokuo's appointment and advocates for a more transparent and impartial selection process that prioritised merit, competence, and meritocracy over political affiliations.

Source: Classfmonline.com/Cecil Mensah