The Director-General of the State Interest and Governance Authority (SIGA), John Boadu, has stated that the concern of the Minority in parliament about the recent appointment of Tweneboah Kodua Fokuo as the Managing Director of the National Investment Bank (NIB) is without basis.

In a press statement, the Minority caucus vehemently opposed the appointment of the NPP Parliamentary Candidate for Manso Nkwanta in the Ashanti Region as MD for the bank.

The Vice President of IMANI Africa, Bright Simons, was the first to raise alarm over the appointment, questioning why the Bank of Ghana approved it considering that the MD would be engaged in rigorous campaigning for political office.

• Read also : NDC MPs oppose appointment of NPP parliamentary candidate as NIB’s new MD

The Minority caucus believes that such appointments undermine public trust in the government's ability to manage national resources effectively.

But the Director-General of SIGA, John Boadu argues that if Mr Fokuo lacked the qualifications to save the bank from collapse, it would have been a matter of concern.

The former General Secretary of the governing New Patriotic Party (NPP) said since Mr Fokuo holds the requisite qualifications, there's no problem with the appointment.

“We are all concerned about the health of NIB and their financial situation is not very good as we speak. I will entertain any argument that says that by his experience and qualification he is incapable of managing, restructuring NIB; but for the mere fact that he is a Parliamentary Candidate begs the question,” he said.

Additionally, Mr Boadu insists that these arguments were out of place since some legislators double as heads of government institutions.

“We have Member of Parliaments who are ministers; with some of them holding ministries which are sensitive. We have a Finance Minister who is a Member of Parliament. He has been going for campaign. So I think that they can further come up with other reasons rather than just election. We even have a Vice President who is a presidential candidate,” he added.

• Read also: Tweneboa Kodua Fokuo appointed Managing Director of NIB

Mr Tweneboa Kodua Fokuo, who until recently was the Deputy MD of the bank has taken over from the former MD, Samuel Sarpong.

His appointment takes effect from Monday, May 13, 2024.