A Banking Consultant, Dr Richmond Atuahene has stated that the appointment of Tweneboah Kodua Fokuo as Managing Director of the National Investment Bank (NIB) by the Bank of Ghana (BoG) suggests that he may have fulfilled all the requirements of the central bank for the top job.
The Minority in parliament is opposed to the appointment saying it is not the best corporate decision for a struggling national bank to be headed by a parliamentary candidate who is focused on winning political power.
The new MD, who until his appointment was the Deputy MD of the bank, is the governing New Patriotic Party's (NPP) Parliamentary Candidate for Manso Nlwanta in the Ashanti Region.
However, Dr Atuahene explained that once the new MD has met all the criteria set to head a bank, the call for his removal is not justified.
Speaking to JoyNews on Tuesday, May 13, he explained that in 2019, the central bank established a number of criteria that an individual must possess for specific positions.
“The minimum assessment criteria for the Bank of Ghana; the financial integrity of that person, the reputation, academic or professional qualification, experience, it goes on to talk about conflict and what the young man and whoever is going to do.
“If Bank of Ghana has deemed it fit and let him pass through this seven or eight criteria, I find it very difficult for people arguing because the directives have also been established 2019, that if you want to be a CEO these are the things that you are required to pass through. If you use conflict of interest, it doesn’t exist.
"The man has time commitment because Bank of Ghana would have tested all these things and found that he is capable," he added.
The Vice President of IMANI Africa, Bright Simons, is the first to have raised alarm over the appointment questioning why the Bank of Ghana approved him for the role considering that he would be engaged in rigorous campaigning for political office.
But Mr Kodua Fokuo has assured that he was a good manager of his time and can therefore juggle both roles. He stressed that none would conflict with the other.
Latest Stories
-
Book Review: Building for the Future – Positioning Ghana’s Construction Industry for Sustainable Growth
16 minutes -
We’ve not been called to make money from gospel music – Kofi Owusu Peprah
20 minutes -
PUSAG hails game-changing legal education reform
26 minutes -
Simon Asaah becomes first Ghanaian to officiate at World Aquatics Championships
38 minutes -
Why cloud technology is a game-changer for Ghana’s small businesses
1 hour -
Concerned Youth of Asante calls for peaceful co-existence between Ghanaians and foreign nationals
2 hours -
Minority slams Finance Minister over ‘shocking’ justification for sacking of over 1,000 workers
2 hours -
IMF edges 2025 growth forecast slightly higher, warns tariff risks still dog outlook
2 hours -
BoG printed money to pre‑finance GoldBod – Amin Adam claims
2 hours -
Minority ‘exposes’ Finance Minister on misleading information in Mid-Year Budget presentation
2 hours -
SeamlessHR and HRCC forge partnership for HR development in Ghana
2 hours -
Joy FM kicks off ‘Sustainability Month’ on August 4 to tackle daily living challenges
2 hours -
GCAA wins 2025 UG Corporate Football League
2 hours -
Minority bemoans challenges faced by businesses over alleged Dollar shortages
2 hours -
‘Cedi no apicki, but Abochi get the Dollar’ – Minority responds to claims on forex
2 hours