Majority denies Minority's claim of plans to collapse NIB

The Majority in Ghana's Parliament has refuted claims made by the Minority that the government intends to collapse the National Investment Bank (NIB).

The National Democratic Congress (NDC) members on the finance committee had raised concerns about potential job losses if the government were to proceed with plans to merge or collapse NIB with the Agricultural Development Bank (ADB).

During a press conference on September 28, 2023, Minority Leader Dr. Cassiel Ato Forson alleged that the government had been working towards merging the two state-owned banks, a move they believed would exacerbate unemployment in the country.

The Majority has now broken its silence and responded to these allegations in a press conference led by the Majority Chief Whip, Frank Annor Dompreh.

He emphatically denied the claims, stating, "This is a lie being put out. I’ve not heard anywhere that there’s going to be any sell-off. If there’s going to be any sell-off, I’m not aware of that."

Mr. Dompreh expressed his concern about baseless rumors damaging the reputation of the bank, emphasising the need to prevent the spread of false information. He challenged the Minority to provide evidence if they believed there were sinister intentions behind the alleged merger.

"My concern is that if we are not careful, we will run down the bank. No financial institution is run with propaganda; it will not succeed. They should be a bit more patriotic," he added.

Mr. Dompreh suggested that the Minority should have sought clarification from the Managing Director of NIB if they had concerns, rather than making unverified claims. He reiterated that there was no hidden agenda to sell off the bank.