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BusinessCalls to remove Tweneboah Kodua Fokuo as NIB MB unwarranted - Govt's...

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Calls to remove Tweneboah Kodua Fokuo as NIB MB unwarranted – Govt’s spokesperson

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Government spokesperson on governance and security, Dr. Palgrave Boakye-Danquah, has dismissed calls from Kwabena Donkor for the removal of Tweneboah Kodua Fokuo as Managing Director of the National Investment Bank (NIB), asserting that they lack any merit.

According to Dr. Boakye-Danquah, Fokuo is competent to rejuvenate NIB.

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He emphasized that there is no issue with Fokuo’s appointment as he possesses the necessary qualifications.

However, the Minority contends that the CEO of a struggling bank should not have conflicting priorities.

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Dr. Boakye-Danquah argued that since the individual in question meets all the criteria set by the Bank of Ghana to lead a bank, the call for his removal is unwarranted.

“There are ministerial members of our parliament, some of whom handle important portfolios.

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“Therefore, I believe that people are capable of thinking of more than only elections. We even have a vice president running for president, ”Palgrave Boakye-Danquah told Accra-based Adom FM.

He served as the Deputy Managing Director of National Investment Bank Ghana PLC (NIB) before his appointment, having joined the Bank in 2019.

During his tenure at NIB, he played a crucial role in the bank’s turnaround and was specifically responsible for overseeing Risk Management and Operations.

His arrival at NIB in 2019 coincided with the bank’s need for the full implementation of its Enterprise Risk Model (ERM) to commence its transformational journey. The execution of the ERM Model and the introduction of best practices in governance have established the necessary controlled environment for sound banking.

He argued that if the minority group’s concern is about time commitment, they have no grounds to call for his removal, citing Kwabena Donkor’s concurrent roles as CEO of the National Petroleum Authority and Member of Parliament for Pru East.

He maintained that Mr. Fokuo met all requirements before his appointment, asserting that Ghana’s President, His Excellency Nana Addo Dankwa Akufo Ado, did not violate any laws or the constitution in appointing him.

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