Your Deposits Are Safe─BoG Assures NIB Customers

Mr. Felix E. Addo

The Bank of Ghana (BoG) is assuring customers of the National Investment Bank (NIB) that their deposits are safe following the appointment of Mr. Felix E. Addo as Advisor to the bank, according to BoG’s statement.

His appointment is pursuant to section 101 (1) of the Banks and Specialised Deposit-Taking Institutions Act of 2016 (Act 930).

Mr. Addo’s role as an advisor does not qualify him to take over the powers, responsibilities, and duties of the bank’s shareholders, directors, or management.

He, under Act 930, may attend meetings of the Board of Directors without voting at such meetings.

The Advisor is expected to help restructure NIB through governance and management reforms as well as streamlining its business model to help refocus it as a bank to industrialisation.

He will stay in the bank until otherwise advised by the Bank of Ghana and will furnish the BoG with a status report on the bank as frequently as BoG may require.

According to BoG, it remains committed to promoting a strong and resilient banking sector that retains the trust and confidence of the general public.

About Mr Felix E. Addo Exploits
Mr. Addo is the immediate past Country Senior Partner of PricewaterhouseCoopers, Ghana and a former member of the PwC Africa Governance Board. He has more than 30 years of practice and consulting experience in restructuring and insolvency, corporate/project finance and recovery, financial and forensic auditing, arbitration, corporate governance, organisational restructuring and performance improvement engagements in both developed and developing economies.

He currently chairs the Board of Directors of Guinness Ghana Limited, and serves on other Boards. Mr Addo is the President of the Ghana Association of Restructuring and Insolvency Advisors (GARIA). He belongs to other professional bodies including the Institute of Chartered Accountants (ICA), Ghana, and the American Institute of Certified Public Accountants (AICPA).

Mr. Addo holds a B.Sc. (Hons) Administration from the University of Ghana, Legon and an MA in Professional Accounting from Loyola College of Maryland, USA. He was honoured with a D.Sc (h.c) in July 2018 by the University of Mines and Technology, Tarkwa.