Potential operational disruption at NIB due to politically exposed individuals – Bia East MP warns
The Deputy Ranking Member on the Finance Committee of Parliament, Richard Acheampong, has expressed reservations regarding the government’s decision to appoint politically exposed individuals to management positions at the National Investment Bank (NIB).
Acheampong voiced concerns that such appointments could potentially disrupt the bank’s operations and overall stability.
The Bia East MP emphasized that the appointment of politically connected individuals to key management roles at NIB might erode confidence among investors and depositors, especially those associated with opposition parties.
He warned that dissatisfied depositors and investors might opt to withdraw their funds, posing a risk to the bank’s stability.
Acheampong’s comments follow the government’s recent approval of GH¢2.3 billion to recapitalize the National Investment Bank. While this injection of funds aims to bolster the bank’s capital base and ensure its continued operation, the Bia East legislator contends that appointing politically exposed persons to leadership roles could undermine these efforts.
“People are expressing concerns about the corporate governance of NIB. This decision, appointing politically exposed individuals to manage state institutions, especially financial ones, may prompt many investors affiliated with other political parties to withdraw their investments from the bank,” Acheampong stated.
He criticized the government’s decision, emphasizing the need for transparency regarding the details of the GH¢2.3 billion recapitalization plan whilst acknowledging that Parliament would scrutinize the terms of the recapitalization closely.
