Majority Chief Whip Calls Out Minority For Playing Politics With Efforts To Restructure NIB

The Majority Chief Whip in Ghana’s Parliament, Mr Frank Annoh-Dompreh has criticised his colleague members of the opposition National Democratic Congress (NDC) for unduly playing politics with restructuring efforts of the National Investment Bank (NIB).

Ranking Member on the Finance committee of Parliament, Mr Isaac Adongo with support from the Minority leader, Dr Casiel Ato Forson during a press conference last month among others accused the Managing Director of NIB of running the Bank virtually from his base in Canada for almost a year.

In direct response to the minority during a press conference in Parliament House on Wednesday October 25, 2023, Mr Annoh Dompreh who is also the Member of Parliament for Nsawam Adoagyiri in the Eastern region said running down NIB in the way and manner the minority is going has a very dire consequence for the financial sector.

According to him, management of the Bank debunked the claim by the minority led by its spokesperson on finance, Isaac Adongo.

He has therefore urged the minority to stop politicizing issues relating to the bank.

The Majority Chief Whip however denied knowledge of any propose sale of the bank and supported the call by the minority for government to recapitalise NIB as a strategic national asset that is expected to play a very significant role is driving investment in the country.

“What the government should be encouraged and urged to do is to help in the recapitalization but not to run down the bank. So, our colleagues in the Minority should stop this politicization of all matters, especially matters related to the financial sector.

“The way and manner our colleagues on the opposite side go to the market with issues of national importance without any facts should be a concern to all.

If they don’t have the facts, they should just be patient, investigate, and get the facts before they come out”, Mr Annoh Dompreh urged.

Mr Annoh-Dompreh also commended the current Board and management of NIB for working around the clock to restructure it to become more liquid.

Recent reports have indicated the possibility of ADB acquiring NIB, which currently has liabilities exceeding GH¢2 billion.

Meanwhile, the Minority in Parliament has threatened to take legal action against the government if it attempts to sign off on the takeover between the Agricultural Development Bank (ADB) and National Investment Bank (NIB).

By: Christian Kpesese/www.eagleghana.com