Retire NIB Managing Director to save sick bank – Minority demands

The Minority in Parliament is demanding the immediate removal of the Managing Director of the state-owned National Investment Bank (NIB) to save the bank which has been struggling financially for a number of years.

The NIB is currently undergoing a strategic review with the view of a sale of its majority shares to the Agricultural Development Bank (ADB) leading to a takeover. Government is said to have concluded consideration talks and awaiting consent from the Finance Ministry to conclude the takeover process.

Ranking Member of Parliament’s Finance Committee, Isaac Adongo argues that the current MD of NIB, Samuel Sarpong has passed his mandatory retirement age and must therefore vacate the office to make way for an energetic person to handle the ailing bank.

Addressing journalists in Parliament on October 9, Isaac Adongo said the ailing NIB has been engaged in a number of sleazy deals despite being in a precarious financial state.

“I am surprised that a sick bank requiring around-the-clock 24-hour attention by an energetic young man is now being managed by an over-aged man…I call on the President to in the interest of NIB and national interest to sack Samuel Sarpong to go and continue his retirement and get a very young, energetic mature person who has the energy and drive to turnaround the NIB,” Adongo said.

“NIB has renewed its banking software for seven years at the expense of the banks’ resources...so to now let somebody else acquire it means that the bank will run two banking software’s while crediting and debiting in two separate banks? This is a joke!” the Bolgatanga Central lawmaker lamented.

The Minority MP further cited verifiable documents in his possession over what he termed as 'sleazy deals' with regards to NIB and its current head office.

“We are aware of the sleazy deals with regards to NIB and its current head office and some developments that should have happened at the airport residential area close to the National Service Secretariat and I am in possession of very verifiable documents to that effect and we will pursue them at some point in time”



MA/NOQ