President John Mahama has revoked the appointment of Edward Nana Yaw Koranteng as the Chief Executive Officer (CEO) of the Minerals Income Investment Fund (MIIF).

In a letter addressed to Mr Koranteng on Monday, January 13, he was instructed to vacate the position immediately and hand it over to the new finance minister-designate, Dr Ato Forson.

The mandate of MIIF is to maximise the value of incomes due to the country from its mineral wealth for the benefit of its citizens. It is tasked with monetising the mineral income accruing to the Republic in a responsible, transparent, accountable, and sustainable manner, as well as developing and implementing measures to reduce the Republic’s budgetary exposure to fluctuations in mineral income.