Government has appointed former Managing Director of CalBank Frank Adu Jnr as the Chairman of a newly constituted Board of Directors of National Investment Bank (NIB).

Mr. Adu Jnr will chair a 9-member board.

The members of the Board include Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai (Managing Director) , Dr. Othniel Ekow Kwainoe, Ebenezer Kwaku Addo, Dr. Mrs. Mercy Naa Aku Ofei-Koranteng and Dr. Shani Bashiru

The rest are Mr. Max George Cobbina,  Dr. Kwasi Akyem Apea-Kubi and Dr. Alfred Attuquaye Botchway.

“Under this new leadership, NIB will operate with the independence and professionalism it deserves. I am pleased to announce that the government has made a bold decision to recapitalize NIB”, a statement on the Facebook page of Finance Minister Dr. Cassiel Ato Forson said.

It explained that a fuller details of the comprehensive recapitalization plan of the bank will be unveiled during the upcoming mid-year review.

“I extend my congratulations to the newly inaugurated board, led by Mr. Frank Adu Jnr”, the statement said.