Managing Director of National Investment Bank PLC (NIB), Dr Doliwura Zakaria, paid a courtesy visit to the Chief of Staff at the Presidency, Julius Debrah.

The meeting provided an opportunity for the MD to express his appreciation to President John Mahama for entrusting him with the leadership of NIB and to discuss strategic initiatives aimed at revitalising the bank.

Dr. Zakaria conveyed his gratitude for the confidence placed in him, emphasizing his commitment to transforming NIB into a leading financial institution that significantly contributes to Ghana’s economic development.

During the Monday, March 25, meeting pledged to implement robust strategies to turn around the bank’s fortunes, with a target of achieving substantial profitability by the third quarter of 2025.

He stressed that with unwavering support from the Presidency and key stakeholders, this ambitious goal is within reach.

He also extended his thanks to the Presidency for promptly addressing NIB’s petition to revert the National Investigation Bureau’s acronym back to Bureau of National Investigations (BNI).

The previous acronym overlap had caused public confusion, and this change is expected to enhance NIB’s corporate identity and reinforce public confidence in the bank.

Aligning with the government’s ‘BIG PUSH’ and “24-Hour Economy” initiatives, Dr. Zakaria highlighted NIB’s collaboration with the Ministry of Transport and the Driver and Vehicle Licensing Authority (DVLA).

This partnership includes the establishment of an ultramodern flagship branch at the Adenta DVLA office, designed to provide continuous banking services to the Adenta community and DVLA customers, thereby promoting financial inclusion and convenience.

Addressing the bank’s financial state, Chief Dr. Zakaria appealed for the expedited release of the remaining recapitalization funds as outlined in the 2025 budget.

These funds are crucial for strengthening NIB’s capital base, enabling the bank to enhance its service offerings and achieve its profitability targets.

The 2025 Budget Statement has earmarked GHS2.2 billion for the full capitalization of NIB and the Agricultural Development Bank (ADB), reflecting the government’s commitment to bolstering state-owned financial institutions.

In response, Hon. Debrah commended Chief Dr. Zakaria’s proactive approach and vision for NIB. He advised the bank to prioritize the development of innovative, technology-driven products and to enhance customer experiences.

Such initiatives, he noted, are essential to attracting and retaining technologically savvy, high-net-worth clients and businesses both within Ghana and internationally.

He also assured Chief Dr. Zakaria of his support in advocating for the bank’s full recapitalization, recognising its pivotal role in the nation’s financial ecosystem.

Chief Dr. Zakaria also discussed plans to relocate NIB’s Head Office to Cedi House, seeking the Chief of Staff’s assistance in facilitating a swift approval process with the Bank of Ghana (BoG), given the time-sensitive nature of the move.

Additionally, he emphasized the importance of collaborating with Ministries, Departments and Agencies (MDAs), Metropolitan, Municipal, and District Assemblies (MMDAs), and various ministries to manage project funds, fostering stronger institutional relationships and expanding NIB’s business portfolio.

Concluding the meeting, Chief Dr. Zakaria expressed his gratitude to the Chief of Staff and the Presidency for their support and extended his appreciation to the Minister of Finance, the Governor of the Bank of Ghana, and other sector ministers and agencies who are already collaborating with and supporting the bank.

He reiterated his commitment to steering NIB towards a prosperous future, contributing meaningfully to Ghana’s economic growth and development.

This engagement underscores NIB’s dedication to aligning with national objectives and implementing strategic initiatives that will solidify its position as a cornerstone of Ghana’s financial sector.