Sunday, 23 June

Tweneboah Kodua Fokuo Competent To Revamp NIB– Dr Palgrave Boakye-Danquah

Business
Mr Palgrave Boakye-Danquah

The Government spokesperson on governance and security, Dr Palgrave Boakye-Danquah, says calls from Kwabena Donkor for the removal of Tweneboah Kodua Fokuo as Managing Director of the National Investment Bank(NIB) are without any basis because he is competent to revamp NIB.

Mr Palgrave Boakye-Danquah stated that there is no issue with the appointment because Mr. Fokuo had the necessary qualifications. The Minority maintains that the CEO of a failing bank cannot be someone with conflicting priorities.

Mr Palgrave Boakye-Danquah says once the person in question has met all the criteria set to head a bank by Bank of Ghana, the call for his removal is not justified.

“There are ministerial members of our parliament, some of whom handle important portfolios.

Therefore, I believe that people are capable of thinking of more than only elections. We even have a vice president running for president,”Palgrave Boakye-Danquah told Accra-based Adom FM.

Until his appointment, he was the Deputy Managing Director of National Investment Bank Ghana PLC (NIB); having joined the Bank since 2019.

At NIB, he has been instrumental in the turn-around journey of the bank and has been specifically in-charge of the Risk Management and Operations of the Bank.

Joining NIB in 2019 was timely as the bank needed the full implementation of its Enterprise Risk Model (ERM) to kickstart its transformational journey. Execution of the ERM Model and the introduction of best practice in governance have created the necessary controlled environment required for sound banking.

He believed that, if the concern raised by the minority group is about time commitment, then they have no reason to protest for his removal because Kwabena Donkor was also a CEO for National Petroleum Authority when he was contesting for Member of Parliament for Pru East.

He claimed that as Mr. Fokuo fulfilled with all requirements prior to being appointed, Ghana’s president, His Excellency Nana Addo Dankwa Akufo Ado, had never broken any laws or the constitution in doing so.

About Tweneboa Fokuo

He is a highly experienced Banker with a strong grasp of Risk Management, covering a broad spectrum of Commercial, Corporate and Investment Banking as well as Country Risk Management.

Mr. Fokuo has had a rich banking career having worked with Barclays Bank, Ghana since 2008. At Barclays, he played various roles in the Risk Management fraternity and rose steadily to the position of Assistant Vice President.

He also served as the Country Risk Champion for Barclays Ghana, reporting to the Group’s Country Risk Teams in London and Johannesburg.

He left Barclays Bank, Ghana in January 2016, and joined First National Bank Ghana Ltd; a subsidiary of FirstRand Bank of South Africa as Head of Credit Risk.

Source: Classfmonline.com/Cecil Mensah