Tue, 14 May 2024 Social News

Calls against NIB MD's appointment baseless — Banking expert

By Francis Appiah || Contributor
Calls against NIB MD's appointment baseless — Banking expert

A banking consultant, Dr. Richmond Atuahene, says calls for the removal of Tweneboah Kodua Fokuo as Managing Director of the National Investment Bank (NIB) are baseless.

Reacting to the Minority's Friday ultimatum to the government to revoke the appointment of Mr. Fokuo, who is also the NPP Parliamentary Candidate for Manso Nlwanta in the Ashanti Region, Mr Atuahene said the minority's argument was empty.

The Minority insists a person with divided attention cannot be appointed to head a struggling bank.

But Dr. Richmond Atuahene says once the person in question has met all the criteria to head a bank, the call for his removal is not justified.

Similarly, the Economic Focused Group (EFG), an intellectual Think Tank has described the appointment of Mr Tweneboah Kodua Fokuo as the new Managing Director of the National Investment Bank (NIB) as forward-looking.

In an interview, the spokesperson for the group, Dr Baba Alhassan, said the decision by the bank to appoint its former Deputy Managing Director to become the substantive MD was commendable and appropriate.

He said apart from fulfilling good corporate and banking practices, the elevation of Mr Kodua Fokuo was a testament that good service comes with a good reward.

"It is surprising that in Ghana, people attach politics to public appointments even when the person displays competence and intelligence to discharge his or her duties. So for our group, we are happy that the NIB has chosen its former Deputy MD as substantive MD because he is highly competent," the spokesperson noted.

The spokesperson said nothing in the Ghanaian Constitution prohibits Mr Fokuo from holding his current position, having been elected Manso Nkwanta Parliamentary Candidate on the ticket of the NPP.

Dr Alhassan stressed that many people in both the NPP and NDC previously held public positions before their subsequent appointments.

The group noted that by virtue of the work Mr Fokuo had done in the financial and banking sectors, he was qualified to be head of NIB.

Dr Baba Alhassan said the group since 2019 had followed the exploits of Mr Fokuo, and it was not surprising that he was found worthy to become substantive MD.

The spokesperson added that having undertaken banking at a high level since 2008 and rising from ranks as a Risk Manager and Risk Management Control Champion at banks such as First National Bank and ABSA Bank, Mr Fokua had charted a good path to lead.

"We are very sure that at a time Ghana's financial sector was fragile, a competent and risk control expert like Mr Tweneboah Kodua Fokuo is allowed to bring his competencies to bear at NIB", the spokesperson stated.