Appointment of NPP PC as new MD for NIB is unfortunate – Agyeman-Duah

Governance expert Prof. Baffour Agyeman-Duah has described the appointment of New Patriotic Party (NPP’s) parliamentary candidate Manso Nkwanta as the new Managing Director for the National Investment Bank as unfortunate.

Speaking with Starr News, he argues that it raises serious concerns about the politicization of State Owned Enterprises.

“It is strange that someone who is actively pursuing a political position at the same time is appointed to head a financial institution. The position of the MD for NIB is a professional position.

"I know the candidate in question is also a professional banker but dabbling in politics at that level politicizes the all-appointment process.

“I don’t think that is the right thing to do at this time. I think the president should have been a bit careful making the decision on the gentleman,” he added.

The Minority in parliament is calling for the revocation of the appointment of the governing NPP’s parliamentary candidate for Manso Nkwanta as the new Managing Director for the National Investment Bank.

Former Power Minister and Member of Parliament for Pru East, Dr. Kwabena Donkor accused the government of attempting to use the bank’s resources to fund the newly appointed MD’s campaign.

“Every parliamentary candidate should be very busy campaigning. How do they expect the PC to have enough time to address the issues of the bank? That is obviously a political trick and a trick to use the resources of the bank to fund the parliamentary campaign of the candidate.

“It is a most worrying appointment. Six months into an election and how do you appoint a parliamentary candidate as the Managing Director of a very ailing state bank? The National Investment Bank has consistently incurred losses for the last 5 years,” he added.

“How will the Bank of Ghana approve the appointment of a parliamentary candidate as the Managing Director of an ailing state bank? The appointment must be revoked and the Bank of Ghana must live up to its duty as a regulator.”

Economist and Senior Lecturer at the University Of Ghana Business School, Prof. Lord Mensah has welcomed this call.

According to Prof. Mensah, the appointment will compromise the independence of management of the bank and could ultimately serve as an outlet for the government’s corruption.