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Tag: NIB

  • NIB releases NPP’s Adenta Kumi

    NIB releases NPP’s Adenta Kumi

    The National Investigations Bureau (NIB) has released a member of the New Patriotic Party (NPP), Alfred Ababio Kumi from custody.

    Alfred Ababio Kumi who is also known as Adenta Kumi was officially charged by the NIB for publishing false news after petitioning President John Mahama to dissolve the committee probing the removal of Chief Justice Gertrude Torkornoo.

    He was picked up by the Crime Investigation Department (CID) and National Security operatives on Friday, May 23.

    Reports from a top executive of the opposition party, the general secretary, Justin Frimpong Kodua, and confirmation from Alfred’s mother confirm his arrest by the officials.

    “All patriots should rush to Adenta Kumi’s house, as over 20 CID and National Security officers are there to pick him up,” the General Secretary wrote in a post on social media.

    The petitioner’s mother who engaged Asaase Radio in an interview said: “They broke the door to his house. They brought a paper (search warrant) but I didn’t take a look at it. They said they need to have a conversation with him so they took him away.”

    Prior to his pickup, Alfred Kumi, in his petition to the president, stated that he witnessed three Supreme Court justices—including two members of the committee—having dinner at a restaurant in Accra.

    He named the individuals as the chairman of the committee, Justice Gabriel Scott Pwamang, Justice Samuel Kwame Adibu-Asiedu, and Justice Yonny Kulendi.

    His claims are yet to be verified following the publication of the video by the Acting Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo that captured the justices, to disprove the allegations.

    Meanwhile, the opposition party has accused the government of abusing the rights of Alfred Kumi.

    “Whatever reason they may have, whether it is linked to the petition or any other matter, he still has a fundamental human right.”

    “His human rights have been abused because that is not a way to arrest and detain a person. At least the due process must be followed,” General Secretary Justin Frimpong Kodua.

    Background

    A series of petitions have been filed against Chief Justice Torkornoo, beginning with one from a group known as Shining Stars of Ghana.

    The group alleges she violated Article 144 of the Constitution by personally recommending judges for promotion to the Supreme Court, and further claims she ruled on a case involving the Speaker of Parliament without granting him a hearing, despite his refusal to respond to the suit.

    Another petition from a police officer who is also a lawyer accuses the Chief Justice of manipulating evidence and abusing her authority, following an incident during a Supreme Court session where he was reportedly reprimanded, arrested, and detained. However, court records suggest the lawyer’s conduct during proceedings prompted a unanimous caution from the bench, not just the Chief Justice.

    A third petition, submitted by a private individual, lists 21 alleged misconducts and four claims of incompetence. Among the accusations is the misuse of public funds—specifically, that she spent over GH¢261,000 and $30,000 on a family trip abroad in 2023 and misused an additional GH¢75,580 and $14,000 during another foreign assignment without proper accountability.

    Subsequent reports indicate two more petitions have been added to the list, intensifying pressure on the judiciary.

    Chief Justice Gertrude Torkornoo, in her written response to President Mahama, strongly denied allegations of misconduct and abuse of office brought against her by senior police officer describing them as baseless and lacking grounds for her removal from office.

    A five-member committee has been formed to investigate the matter. The committee is chaired by Supreme Court Justice Gabriel Scott Pwamang, and includes Justice Samuel Kwame Adibu-Asiedu, former Auditor-General Daniel Yaw Domelevo, Major Flora Bazwaanura Dalugo of the Ghana Armed Forces, and Associate Professor James Sefah Dzisah of the University of Ghana.

    Legal matters arising

    Member of Parliament for Old Tafo, Ekow Vincent Assafuah, has moved to challenge the suspension of Chief Justice Gertrude Torkornoo, filing an application at the Supreme Court to injunct the presidential decision.

    The notice of motion, dated April 24, is a direct response to President John Dramani Mahama’s April 22 suspension of the Chief Justice, which was carried out in line with Article 146(6) of the 1992 Constitution after consultations with the Council of State and a determination that a prima facie case existed.

    According to Mr Assafuah, the process that led to the Chief Justice’s suspension violated constitutional provisions, as she was not informed of the petitions nor given an opportunity to respond before the President engaged the Council of State.

    He further described the actions taken thus far, including the formation of an investigative committee, as “a farce and the product of a pre-conceived orchestration to unconstitutionally remove the Chief Justice from office.”

    Ekow Vincent Assafuah filed an injunction application to halt the process for the removal of the Chief Justice; however, this application was also dismissed by the Supreme Court on May 6.

    The second interlocutory injunction application challenging the process for the removal of Chief Justice Gertrude Torkonoo from office has been thrown out by the apex court.The Supreme Court, by a 4 to 1 majority decision, deemed the application by a private citizen, Theodore Kofi Atta-Quartey, unmeritorious on Wednesday, May 21.

    The five-member panel comprised Justices Paul Baffoe-Bonnie (Presiding), Issifu Omoro Tanko Amadu, Yonny Kulendi, Henry Anthony Kwofie, and Yaw Asare Darko. Justice Yaw Asare Darko was the only one who disagreed with the majority’s opinion.

    Justice Torkornoo heads to court

    Suspended Chief Justice Gertrude Torkornoo has headed to the Supreme Court to prevent the committee set up by President John Mahama to probe the petitions seeking her removal from office.

    She is also requesting the apex court to halt her suspension issued by the President under Article 146(10) of the Constitution until a final determination is made on the matter.

    On Wednesday, May 21, her legal team at Dame and Partners filed an interlocutory injunction application.

    The defendants per the writ, are Attorney-General Dr Dominic Ayine, Justice Gabriel Scott Pwamang, Justice Samuel Kwame Adibu-Asiedu, Daniel Yao Domelovo, Major Flora Bazwaanura Dalugo, and Professor James Sefah Dzisah.

    The plaintiff has prayed the apex court to restrain the committee from proceeding with any further inquiry as well as prevent Justice Gabriel Scott Pwamang, the acting Chief Justice, from participating in the process.

    Experts react to Torkornoo’s suit

    A former Director of the Ghana School of Law, Kwaku Ansa-Asare, believes that Justice Torkornoo should have first sought counsel from the Judicial Council before heading to the apex court.

    “The Judicial Council has been established to aid successive Chief Justices to behave themselves. So if an incumbent Chief Justice has a problem, her first port of call should be to seek counsel. I don’t think that has been done,” he said.

    Director of Legal Affairs for the National Democratic Congress (NDC), Godwin Edudzi Tameklo, described the suspended Chief Justice’s move as interesting.

    “I’m happy that the suspended Chief Justice is going to have the benefit of how the justice system works. Just like any one of us, her leadership may need the benefits of the very justice she, together with others, over the years, delivered to people,” he said while engagaing the media in an interview.

  • AWW electoral violence case reopens – NIB probes ASP Azugu, manhunts culprits

    AWW electoral violence case reopens – NIB probes ASP Azugu, manhunts culprits

    President John Dramani Mahama has reopened investigations into the Ayawaso West Wuogon (AWW) by-election violence, a case that shocked the nation with images of brutality and impunity.

    Delivering a national address to mark 120 days since his return to office for a second term, the President assured Ghanaians that justice will be served for victims of the 2019 electoral chaos, which he described as one of Ghana’s darkest moments in democratic history.

    A key figure at the center of the violence, ASP Samuel Kojo Azugu—who then commanded the National Security SWAT team whose operatives were captured on camera brutalizing unarmed civilians—is now cooperating with the National Investigations Bureau (NIB), according to the President.

    “ASP Azugu, who was deeply involved in the violence and atrocities on that day, is currently cooperating with the National Investigations Bureau to identify, arrest, and prosecute all those involved,” President Mahama stated.

    The NIB has since launched a manhunt for the perpetrators, working in collaboration with a special task force formed by the new Inspector General of Police. The task force is leading investigations into the AWW incident as well as several other unresolved cases of political violence.

    The President emphasized that these renewed investigations form part of his broader agenda to restore public trust in the justice system and bring closure to victims and their families.

    “Delivering justice is crucial for national healing and trust in our institutions,” he said.

    President Mahama recalled the government’s promise to revisit unresolved criminal cases, citing not only the AWW incident but also the 2020 election killings, and the high-profile murders of journalist Ahmed Hussein-Suale and social activist Silas Wulochamey.

    In a significant development, Mahama revealed that six years after Hussein-Suale’s murder, an arrest has finally been made. “The Police Service made an arrest, and the suspect has been arraigned and remanded,” he noted.

    He detailed progress in other politically related killings:

    • In Techiman South, where two people were killed during the 2020 polls, investigations are ongoing.
    • In Odododiodoo, three people have been charged with conspiracy and murder.
    • In Ablekuma Central, where a military officer was implicated in a civilian death, the scene has been revisited and the Army Chief has been asked to release the officers involved for questioning.
    • In Dormaa West, the case of Kofi Robert has been reopened, with one suspect arrested and another being pursued.
    • In Savelugu, where 16-year-old Zakaria Samira was killed, President Mahama acknowledged delays due to witness silence but affirmed that efforts to identify the shooter are ongoing.

    He also cited active investigations into electoral violence from the 2024 elections, including cases in Tolon, Damongo, Awutu Senya East, Nkoranza South, Offinso North, and Ahafo Ano South West.

    “These are senseless deaths that should never again happen in our nation,” he stressed.

    President Mahama pledged that his administration would not allow political violence to go unpunished.

    “Elections are to choose leaders, not to murder our citizens,” he said. He also disclosed that the Attorney General is preparing a report to propose compensation for victims and their families.

  • AWW electoral violence case reopened; NIB probes ASP Azugu, manhunts culprits

    AWW electoral violence case reopened; NIB probes ASP Azugu, manhunts culprits

    President John Dramani Mahama has ordered the reopening of investigations into the Ayawaso West Wuogon (AWW) by-election violence, signaling a renewed push for justice in one of Ghana’s most notorious incidents of political brutality.

    In a national address marking 120 days into his second term, President Mahama revealed that ASP Samuel Kojo Azugu—the then commander of the National Security SWAT team implicated in the attacks on civilians during the January 31, 2019, by-election—is now assisting the National Investigations Bureau (NIB) in tracking down and prosecuting all those involved.

    “ASP Azugu, who was deeply involved in the violence and atrocities on that day, is currently cooperating with the National Investigations Bureau to identify, arrest, and prosecute all those involved in the violence,” the President said.

    The move forms part of a broader government initiative to restore faith in the country’s justice system through the resolution of unresolved high-profile cases.

    “Delivering justice is crucial for national healing and trust in our institutions,” he emphasized.

    President Mahama reaffirmed his campaign promise to pursue justice for victims of politically motivated violence and unresolved murders, naming key cases such as the AWW by-election incident, the 2020 electoral killings, and the high-profile deaths of journalist Ahmed Hussein-Suale and Silas Wulochamey.

    “We promised to reopen investigations into major unresolved criminal cases, including the 2020 election killings, the Ayawaso West Wuogon by-election violence, and the murders of Ahmed Hussein-Suale and Silas Wulochamey,” he noted.

    To support this effort, the newly appointed Inspector General of Police has constituted a Special Task Force to drive the investigations.

    “Progress is being made,” President Mahama stated.

    On the six-year-old murder of investigative journalist Ahmed Hussein-Suale, the President disclosed that an arrest has been made and the suspect has already been arraigned and remanded by the court.

    “In Techiman South, where two lives were lost during the 2020 elections, investigations are ongoing. In Odododiodoo, three individuals have been charged with conspiracy and murder,” he added.

    The President further mentioned that developments have emerged in other previously stalled cases.

    “In Ablekuma Central, where a military officer allegedly caused a death, the scene has been revisited, and the Chief of Army Staff has been requested to release involved personnel for investigation,” he said.

    The case of Silas Wulochamey, which had earlier been shelved due to lack of evidence, has also been reopened. “Based on actionable intelligence,” Mahama explained.

    In Dormaa West, the President said a suspect is in custody in connection with the death of Kofi Robert, while another is on the run.

    For the Savelugu shooting of 16-year-old Zakaria Samira, President Mahama said investigators are still pursuing the assailant despite difficulties caused by uncooperative witnesses.

    He also touched on cases of election violence during the 2024 polls.

    “Cases from Tolon, Damongo, Awutu Senya East, Nkoranza South, Offinso North, and Ahafo Ano South West are being investigated by the Special Task Force. These are senseless deaths that should never again happen in our nation,” he stated.

    President Mahama concluded by reiterating his administration’s resolve to end impunity in electoral violence and ensure that no political crime goes unpunished.

    “Elections are to choose leaders, not to murder our citizens,” he said, disclosing that the Attorney General is finalizing a report recommending compensation for victims and their families.

  • Presence of NIB at my residence was a lawless act – Ntim Fordjour

    Presence of NIB at my residence was a lawless act – Ntim Fordjour

    Rev. John Ntim Fordjour, the Member of Parliament for Assin South, has condemned the recent presence of National Investigations Bureau (NIB) operatives at his home, calling it a “lawless act” aimed at intimidating him.

    “Thank you very much HE Dr. Mahamudu Bawumia for the visit to my residence this evening following the politically-motivated lawless act of harassment in the attempt of the NDC government to gag MPs from exercising their legitimate oversight,” Fordjour posted.

    On April 9, the NIB officers allegedly raided the residence of the MP, who also serves as the Ranking Member on Parliament’s Defence and Interior Committee.

    Rev. Ntim Fordjour’s claims about the two aircraft landings had earlier triggered strong political debate, with government officials dismissing the accusations as baseless. However, the attempted arrest has heightened tensions, raising concerns over the treatment of opposition voices.

    Ntim Fordjour has described the incident as a politically motivated attempt to undermine his position and suppress his oversight role as a legislator.

    In his statement on social media, he expressed his gratitude to former Vice President Dr. Mahamudu Bawumia, who visited him in solidarity after the unsettling event.

  • NPP bigwigs storm Ntim Fordjour’s house to prevent his purported arrest

    NPP bigwigs storm Ntim Fordjour’s house to prevent his purported arrest

    Members of Parliament (MPs) and some stalwarts of the opposition New Patriotic Party (NPP) gathered at the Spintex residence of Assin South MP, Rev. Ntim Fordjour, to stop officials from the National Investigations Bureau (NIB) from arresting him.

    Those present included Minority Leader Alexander Afenyo-Markin, NPP General Secretary Justin Kodua, National Organiser Henry Nana Boakye, Director of Communications Richard Ahiagbah, as well as other Members of Parliament and party supporters.

    They stated that they had gathered at the house after learning that officials from the National Investigation Bureau (NIB) had “invaded” the MP’s residence to arrest him in connection with his claims about the two aircraft that landed in the country.

    He clarified that Rev. Fordjour only raised the issue of the AirMed aircraft on behalf of the Defence Committee of Parliament, where he is a member. “So nobody should make an attempt to single him out and try to come here to intimidate him.”

    The standoff at the residence prevented the NIB from carrying out the arrest, as claimed by the NPP, who said they had come to detain the MP.

    The situation began after Rev. Ntim Fordjour stated that the aircraft had arrived in the country to engage in illegal activities such as drug trafficking and money laundering.

    Since then, he has faced criticism for bringing up the issue publicly without proper verification.

    The government has accused him of making the claim to damage the reputation of the NDC administration.

  • Ntim Fordjour’s residence besieged by NIB officials

    Ntim Fordjour’s residence besieged by NIB officials


    The residence of Rev. John Ntim Fordjour, Member of Parliament for Assin South, has been surrounded by officials from the National Intelligence Bureau (NIB) in what appears to be an attempted arrest.

    The incident comes amid rising political tensions, following allegations made by Ntim Fordjour concerning suspicious aircraft landings at Kotoka International Airport, which he claimed were linked to drug trafficking and money laundering activities.

    The General Secretary of the NPP, Justin Kodua Frimpong, highlighted the development in a social media post, framing it as part of a broader pattern of harassment targeting opposition figures.

    Also, footage on social media shows NIB officials at the legislator’s residence. Per reports, members of the Minority in Parliament are with the MP.

    https://twitter.com/justinkfrimpong/status/1909960386092146974

    The NIB has not yet issued any official statement regarding the circumstances surrounding the presence of its officers at Ntim Fordjour’s residence.

    https://twitter.com/SIKAOFFICIAL1/status/1909985822327394670

    Earlier, Minister of State in Charge of Government Communications, Felix Kwakye Ofosu, revealed that the Speaker of Parliament, Alban Bagbin, has not yet granted approval for the release of Assin South Member of Parliament, Reverend John Ntim Fordjour, to assist in investigations into alleged drug trafficking and money laundering.

    Speaking during an interview on Face to Face on Channel One TV, Kwakye Ofosu explained that the National Intelligence Bureau (NIB) had officially written to the Speaker seeking permission to question the legislator. However, as of now, the Speaker’s response is still pending.

    “The NIB wrote to the Speaker to release Ntim Fordjour. The Speaker is yet to respond to the NIB, as far as I am aware. Anytime the Speaker responds to it, he will be available for questions,” he said.

    The investigation follows claims made by Rev. Ntim Fordjour that two aircraft recently arrived in Ghana allegedly carrying illicit drugs and large sums of cash. According to the Minister, the MP has not yet honored requests by security agencies to provide further information on the allegations.

  • BoG, NIB hold discussions on strategic reforms and future growth

    BoG, NIB hold discussions on strategic reforms and future growth

    Managing Director of the National Investment Bank PLC (NIB), Dr. Doliwura Zakaria, has led a high-powered team from the bank to meet with the Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, as part of efforts to deepen collaboration and drive reforms.

    Joining the meeting were the First Deputy Governor, Dr. Zakari Mumuni, and other senior officials from the BoG, with discussions centered on governance improvements, operational efficiency, technological advancement, and the growth agenda for NIB.

    Dr. Zakaria, in his introductory comments, congratulated Dr. Asiama and Dr. Mumuni on their recent appointments, expressing confidence that their leadership would contribute significantly to the banking sector’s stability and innovation.

    He acknowledged the unique relationship between NIB and the BoG, noting that the central bank serves not only as NIB’s regulator but also as a shareholder — a dual role that, while complex, offers important opportunities for strategic alignment.

    Highlighting recent progress, Dr. Zakaria stated that NIB had made considerable strides toward profitability and reiterated the bank’s commitment to supporting national development goals. He emphasized the need for ongoing collaboration, especially in securing budgetary backing to fuel key projects.

    Among the major items on the agenda was the proposed relocation of NIB’s corporate headquarters to Cedi House. Dr. Asiama responded positively to the idea, indicating that further engagement would continue to facilitate a smooth transition.

    The meeting ended on a note of shared optimism, with both institutions reaffirming their commitment to fostering a stronger financial ecosystem.

  • NIB MD appeals to Parliament for prompt release of GHC2.3bn allocated for recapitalisation

    NIB MD appeals to Parliament for prompt release of GHC2.3bn allocated for recapitalisation

    Managing Director of the National Investment Bank PLC (NIB), Dr. Doliwura Awushi Abdul-Malik Seidu Zakaria, has called on Parliament to expedite the release of GHC2.3 billion earmarked for the bank’s recapitalization.

    Leading a 10-member delegation, Dr. Zakaria paid a courtesy visit to the Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, to discuss strengthening ties between NIB and Parliament. The discussions focused on enhancing banking services for Members of Parliament (MPs), parliamentary staff, and the institution as a whole.

    During the meeting, Dr. Zakaria highlighted NIB’s financial progress and ongoing efforts to improve its service offerings. He outlined recent enhancements to the bank’s loan packages, including an increase in the Salary Loan and Monitoring and Evaluation Loan for MPs. Additionally, he mentioned the introduction of specialized investment products designed to meet the financial needs of MPs and parliamentary staff.

    A key concern raised by Dr. Zakaria was the recapitalization of NIB, a fully state-owned institution. He acknowledged the government’s commitment to injecting GHC2.3 billion into the bank but stressed the need for a swift disbursement of the funds. He emphasized that timely financial support was critical for NIB’s ability to remain competitive, expand its operations, and contribute effectively to Ghana’s economic development.

    The Speaker of Parliament welcomed the NIB delegation and commended the bank for its efforts in improving financial services. He reaffirmed Parliament’s readiness to collaborate with NIB and explore ways to strengthen the partnership. He also underscored the importance of financial sustainability for MPs, advocating for a shift away from dependence on government-backed loans for personal financial needs.

    Dr. Zakaria concluded by reaffirming NIB’s dedication to providing tailored banking solutions through its Excel Banking Unit, a specialized service designed to offer premium and personalized banking experiences to distinguished clients. He expressed confidence in the bank’s future, citing its extensive branch network, skilled workforce, strong leadership, customer-focused approach, and unwavering commitment to Ghana’s economic growth.

    The meeting ended with a mutual commitment to further discussions on enhancing financial services for Parliament while ensuring the growth and stability of NIB.

  • Cocaine shipment worth $350M seized by NIB in Cape Coast

    Cocaine shipment worth $350M seized by NIB in Cape Coast

    The National Intelligence Bureau (NIB) intercepted a large cocaine shipment on March 4, 2025, seizing around 3.3 tonnes of the illegal substance that was being transported from the Western Region to Accra.

    Acting on intelligence, NIB officers stopped a tipper truck at Pedu Junction in Cape Coast, where they discovered 143 sacks of cocaine concealed beneath sand.

    The truck, which was making its way from Takoradi to Weija, had two occupants who were immediately arrested.

    Field tests conducted by the Narcotics Control Commission (NACOC) confirmed the seized substance as raw cocaine, with an initial weight of 2,974 kilograms.

    Subsequent investigations on March 8 led officers to a suspect’s residence, where they uncovered 13 additional sacks along with another bag of suspected cocaine, bringing the total to 345.07 kilograms.

    Laboratory tests carried out by NACOC and the Ghana Standards Authority established the total weight of the consignment at 3,319.68 kilograms, with purity levels ranging from 50% to 70%.

    The cocaine, with an estimated street value exceeding $350 million, is suspected to have been smuggled into Ghana by sea through fishing vessels.

    A report by 3news indicates that two suspects, Isaac Quaicoe and Kenneth Cobbinah, have been remanded in custody and are set to reappear in court on April 2, 2025.

    Meanwhile, the NIB has identified more suspects who remain on the run and is actively pursuing them to ensure that all those involved face justice.

  • Okatakyie Afrifa released from NIB custody

    Okatakyie Afrifa released from NIB custody

    Media personality Okatakyie Afrifa Mensah has been freed after spending hours in the custody of the National Investigations Bureau (NIB), following his arrest on Wednesday, March 19.

    His detention sparked widespread criticism from the opposition New Patriotic Party (NPP) and advocates for media freedom.

    Afrifa Mensah, known for hosting the social media show “FOR THE RECORDS,” was reportedly picked up by security operatives, triggering a strong backlash from opposition leaders and press freedom activists.

    The NPP condemned the arrest, describing it as an assault on democratic principles and press liberties. Party General Secretary Justin Frimpong Kodua issued a scathing rebuke, demanding his immediate release.

    “The arrest of Okatakyie Afrifa Mensah by the NDC government is a dangerous attack on democracy and freedom of speech! Ghana must not descend into tyranny,” Kodua declared.

    Effutu MP and Minority Leader Alexander Afenyo-Markin also weighed in on the issue, criticizing the government’s approach toward dissenting voices.

    “It started with Abronye. Now it’s Okatakyie Afrifa. The NDC government must be tolerant. Using State Security to intimidate opponents is not good for our democracy!” he warned.

    Amid mounting public outcry and a growing online campaign demanding his freedom, Afrifa Mensah was eventually released later that evening.

    Confirming his release, NPP National Organizer Henry Nana Boakye denounced the arrest as unjustified and excessive.

    “We have just left the premises of National Security, and it is very disappointing to say that the arrest of Okatakyie Afrifa after his exams this evening was completely unnecessary and unwarranted. Thanks to the efforts of several individuals who intervened, he has been released. Free speech cannot be suppressed under the guise of an investigation. If that is the case, then National Security should be prepared to arrest all of us,” Boakye stated in a Facebook post.

    Afrifa Mensah’s detention and subsequent release have reignited discussions about press freedom and the role of security agencies in handling dissenting opinions.

  • Gifty Oware-Mensah released from NIB custody after questioning over NSA scandal

    Gifty Oware-Mensah released from NIB custody after questioning over NSA scandal

    Former Deputy Executive Director of the National Service Authority (NSA), Gifty Oware-Mensah, has been released by the National Investigations Bureau (NIB) after being questioned in connection with an ongoing probe into the ghost names scandal at the NSA.

    Per reports, she was discharged on Saturday after several hours of questioning. Sources say she was granted bail but the terms and disclosed amount are unknown.

    Gifty Oware-Mensah was arrested on March 7,  following her return to Ghana on March 5  after being named a suspect in  an ongoing probe into a ghost-name scandal after the release of an investigation by The Fourth Estate.

    It is reported that Madam Oware-Mensah was detained despite multiple efforts to secure her bail. Sources say former New Patriotic Party (NPP) General Secretary, John Boadu, attempted to intervene to facilitate her release. However, she was later moved from the NIB premises to an undisclosed location.

    The former NSA boss following the 2024 elections had been abroad for a few months, taking a post-election break.

    Prior to her arrest, Minority Leader in Parliament, Alexander Afenyo-Markin assured that Oware-Mensah was willing to cooperate with the NIB’s investigations. Her legal team was reportedly arranging for her to meet with investigators when she was taken into custody.

    The Fourth Estate’s investigation has exposed major payroll irregularities, including the fraudulent use of “ghost names” to inflate the payroll and divert funds. It revealed that officials bypassed mandatory validation processes, enabling thousands of nonexistent individuals to be added to the payroll. 

    In some cases, names were duplicated multiple times, with one appearing as many as 226 times. Among the falsely listed beneficiaries was a 72-year-old Kenyan, Kwame Donkor, along with other foreign nationals.

    Consequently, President John Dramani Mahama, in his first State of the Nation Address, directed law enforcement agencies to take firm action against those implicated.

    This has led to intensified investigations and a series of arrests. Aside from Gifty Oware-Mensah, former Deputy Director of Operations at NSA,  Kwaku Ohene Gyan was arrested on February 22, and subsequently released.

  • I’ll advise my client not to appear before NIB without invitation – Lawyer of Gifty Oware-Mensah

    I’ll advise my client not to appear before NIB without invitation – Lawyer of Gifty Oware-Mensah

    Lawyer Nana Agyei Baffour Awuah has stated that he would not advise his client, former Deputy Director of the National Service Scheme (NSS), Gifty Oware-Mensah, to appear before the National Intelligence Bureau (NIB) if she has not been officially invited.

    Speaking on JoyNews, he dismissed reports suggesting that his client had been summoned for questioning, emphasizing that no security agency had reached out to her regarding any investigation.

    “Find out from Martin Kpebu, that for the years of his practice, if no investigative body invites his client, will he advise his client to appear before an investigative body? Appearing before the investigative body as what? A busybody?” he questioned.

    “I’m not sure I’m going to engage my client, I’ll advise her very respectfully. Legal advice is like a perfume, you smell it, you don’t swallow it. So when I give it to her, she’ll make her judgment as to whether she is going to go or not,” he added.

    He firmly stated that Gifty Oware-Mensah had not been invited by the NIB or any other security agency.

    “Up until today, she had not been invited by the BNI. Up until today, no security agency has invited her.

    “I am putting it on record, Gifty Oware, up until today, has not been invited by any security agency,” he stressed.

    Addressing rumors that his client had fled the country following the arrest of Kwaku Ohene Djan, a former Deputy Executive Director of the NSA, Awuah clarified that they proactively contacted the intelligence agency to set the record straight.

    “We wrote because, following the arrest of Kwaku Ohene, there were a lot of publications that the BNI was looking for her and she had absconded.

    “Subsequently, the president went to Parliament to make a similar allusion, although her name was not mentioned. So when we put one and two together, we concluded that all references were to her,” he explained.

    To counter any speculation regarding her whereabouts, Oware-Mensah voluntarily returned to Ghana, which her lawyer argued demonstrated that she was not evading authorities.

    “Now, when you put these facts together, would you describe her as a flight risk?” he asked.

    Responding to Minority Leader Alexander Afenyo-Markin’s claim that Oware-Mensah would later meet with the NIB, Awuah clarified that this was a preemptive move to prevent unnecessary tensions.

    “The Minority Leader, seeing what had happened to Kwaku Ohene Djan, concluded that the Rambo-style of arrest did not engender peace and might lead to protests, which would not augur well for the work of the BNI.

    “So he went out of his way to ensure that certain arrangements were made so that people were not picked up in that manner,” he explained.

    Expressing dissatisfaction with how information about his client had been handled, Awuah questioned the source of reports suggesting she was wanted by security agencies.

    “I’m putting it on record that Gifty has not been invited by anybody, so I don’t know who even briefed the president. It’s unfortunate,” he said.

    Former Deputy Director of the National Service Authority (NSA), Gifty Oware Mensah, arrived at Kotoka International Airport (KIA) on Tuesday as investigations continue into an alleged payroll fraud scheme at the Authority.

    This follows President John Mahama’s directive to declare former heads of the NSA wanted after a financial scandal in which a headcount uncovered 81,885 fraudulent entries on the payroll.

    Her return comes amid reports that the National Intelligence Bureau (NIB) had been searching for her in connection with the scheme, which was exposed by The Fourth Estate and could have cost the state over GH¢50 million in fraudulent payments every month if left undetected.

    According to reports, she had been in the United States after the elections but arrived in Ghana on the afternoon of Tuesday, March 4, where she was received by relatives at the airport.

  • NSA payroll fraud: Gifty Oware Mensah touches down at KIA, bound for NIB

    NSA payroll fraud: Gifty Oware Mensah touches down at KIA, bound for NIB

    Former Deputy Director of the National Service Authority (NSA), Gifty Oware Mensah, has arrived at the Kotoka International Airport (KIA) as investigations continue into an alleged payroll fraud scheme at the Authority.

    According to reports, she had been in the United States after the elections but touched down in the country on Tuesday afternoon, March 4, where she was received by her relatives at the airport.

    Her return follows reports that the National Intelligence Bureau (NIB) had been searching for her in relation to the case.

    This comes soon after Kwaku Ohene Gyan, also known as Osonoba, a former Deputy Director of Operations at the NSA, was taken into custody by the NIB.

    Officials are looking into allegations that unauthorized disbursements were made to nonexistent individuals listed on the National Service payroll.

    Early findings indicate that numerous fake identities were registered in the system, causing huge financial damage to the state. Some employees within the NSA are suspected of being involved in the scheme, diverting funds meant for legitimate service personnel.

    These revelations have sparked widespread calls for stricter supervision and accountability in managing the program, which enlists thousands of university graduates annually.

    Although Gifty Oware Mensah’s exact connection to the case is still uncertain, her presence in Ghana raises the likelihood of legal action or further questioning by investigators.

    Law enforcement agencies are expected to ramp up efforts to uncover the full extent of the fraudulent operation.

  • Abronye is being interrogated by the NIB over remarks against Mahama – Nana B

    Abronye is being interrogated by the NIB over remarks against Mahama – Nana B

    The Bono Regional Chairman of the New Patriotic Party (NPP), Kwame Baffoe, widely known as Abronye, is under investigation at the National Intelligence Bureau (NIB) office in Kawukudi, Accra.

    This was revealed by Henry Nana Boakye, the NPP’s National Organiser, also known as Nana B.

    In a Facebook post on Wednesday, February 26, 2025, Nana B revealed that he, along with other party leaders, had accompanied Abronye to the NIB office after the bureau invited him.

    He further assured the public that Abronye is currently being questioned by NIB officials and is being represented by his legal team, including Agyei Baffour Awuah and Enoch Afoakwa.

    “This morning, together with some party executives, we accompanied Kwame Baffoe Abronye, the Bono Regional Chairman of the NPP, to the National Intelligence Bureau (NIB) office at Kawukudi.

    “Abronye is currently engaging with NIB officers, accompanied by his legal representatives, Lawyer Agyei Baffour Awuah and Lawyer Enoch Afoakwa,” he wrote on his Facebook page.

    Nana B affirmed the party’s steadfast commitment to backing its members, asserting,“The party remains committed to standing by its members at all times.”

    The invitation for questioning was issued by the NIB following Abronye’s allegations in a radio interview where he accused President John Dramani Mahama of withholding GH¢550 million designated for dismissed appointees at the Jubilee House.

    Mr Abronye made these claims during his appearance on Movement TV in Accra.

    “The Akufo-Addo government budgeted GH¢550 million for these individuals to be employed. This money comes from taxpayers, yet another government cancels the appointments and allegedly transfers the funds to the Jubilee House. So, what are you doing with the GH¢550 million that was put in bullion vans and sent to the Jubilee House?

    “You have revoked people’s appointments, taken their GH¢550 million, and put it in a bullion van. Meanwhile, Mahama and Okudzeto Ablakwa travel every week and have not spent more than three days in the country,” he claimed.

    Mr Abronye, reacting to the invitation, declared that no amount of intimidation or state security pressure could silence him.

    While speaking on Movement TV, the outspoken politician reaffirmed his strong views on the matter and conveyed his readiness for the forthcoming session with the NIB.

    “I cannot be intimidated by any state security agency. I am not one of those who run away from accountability. Why? Don’t I have the right to question the president on where he’s keeping that money? Is this the Ghana we are building? These people know that both spiritually and physically, they always lose a fight against me. So, is this the strategy they are resorting to? I will demolish them.

    “You, the same President Mahama, when you met the labour unions, stated that state resources were criminally used. Why can’t I also drag you to the NIB for questioning? We were in this country when a party chairman urged supporters of his party to burn DRIP machines, yet the Director of Investigation did not say a word on that issue. I am to appear before the NIB on Wednesday, but if they like, I can go and sleep there on Tuesday night ahead of the meeting,” he said.

    He added that “Nobody can threaten me or prevent me from asking relevant questions. Even Donald Trump was questioned after his company had a deal with Elon Musk’s company. When I appear before the NIB, I will use the word ‘hoarding’ in every paragraph. We can’t allow the government to keep that money.”

  • Former NSA Deputy Director released from NIB’s custody

    Former NSA Deputy Director released from NIB’s custody

    Kwaku Ohene Djan, the former Deputy Executive Director of the National Service Authority (NSA), has been released from the custody of the National Investigations Bureau (NIB) after days of detention.

    His arrest was linked to an ongoing probe into financial irregularities and alleged misconduct at the NSA, where investigators are uncovering potential mismanagement and fraudulent activities that have raised national concern.

    Sources indicate that Mr. Djan’s detention formed part of a wider investigation into suspected financial misappropriation and administrative lapses that may have cost the state significant losses. Several high-ranking officials, both past and present, have reportedly been implicated in the scandal.

    Following his release on Monday, February 24, the NIB clarified that Mr. Djan remains a key figure in the investigation and could be recalled for further questioning if necessary.

    Meanwhile, his legal team has assured that he is ready to cooperate fully with authorities to ensure transparency and due process.

  • Joe Ghartey engages NIB on Sky Train Project

    Joe Ghartey engages NIB on Sky Train Project

    Former Railways Development Minister, Joe Ghartey, has addressed the National Investigation Bureau (NIB) over the controversial Accra Sky Train Project, asserting that the Railways Ministry adhered strictly to due process during his tenure.

    Following his meeting with NIB officials on Monday, Mr. Ghartey clarified that the Sky Train initiative was structured as a Build, Operate, Transfer (BOT) project, meaning no financial transactions were executed by his ministry under his leadership.

    He cited the 2021 Auditor-General’s report, which supported his claim of no payments being made during his term.

    “We took all necessary steps to ensure that the Ministry bore no liability for feasibility studies on the project,” Mr. Ghartey stated, affirming that various clauses were embedded in the agreements to shield the Ministry from any financial obligations.

    The former minister also expressed his full cooperation with the investigation, emphasizing that the Sky Train transaction was “above board.” Earlier, Prof. Ameyaw Akumfi, former Chairman of the Ghana Infrastructure Investment Fund (GIIF), had also been invited to share information on the project.

    Background of the Sky Train Project

    In 2018, Africa Investor Holdings Limited established Ghana Sky Train Limited, aiming to develop the Accra Sky Train Project through a Design, Build, Finance, and Operate model. The project proposed a 194-kilometre network consisting of five routes—four originating from a central terminal at Kwame Nkrumah Circle, with an additional intra-city loop also beginning from the same location.

    The Akufo-Addo administration officially signed a concession agreement for the project in November 2019. At the ceremony, President Akufo-Addo hailed the deal as “a happy day for Ghana and her good people,” marking it as a pivotal step toward advancing the country’s urban transport infrastructure.

    Audit Revelations and Financial Concerns

    Despite the initial enthusiasm, a 2021 Auditor-General’s report revealed that the Ghanaian government had spent $2 million through the Ghana Infrastructure Investment Fund (GIIF) to acquire 10 ordinary shares in the project’s Special Purpose Vehicle (SPV), Ai Sky Train Consortium Holdings. However, the audit found that feasibility studies for the project remained incomplete, leaving the future of the initiative uncertain.

    Ministerial Responses on the Sky Train Project

    Joe Ghartey, who spearheaded the project’s launch, maintained that his ministry did not authorize or disburse any funds toward the initiative. He clarified, “The GIIF is the statutory corporation that has the power to make such payments, and so you can ask them.”

    In January 2024, Mr. Ghartey attributed delays in the project to the COVID-19 pandemic, which caused key investors to withdraw. He explained on Joy News that South African backers had pulled out due to post-pandemic financial constraints, stating, “The South Africans pulled out after COVID… What they wrote to me was that because of COVID, things have changed, they can’t come.”

    When asked whether the government should revive the project, he responded, “It depends on how much money you have. It [also] depends on whether the people are prepared to do it.”

    John Peter Amewu, who succeeded Ghartey as Railways Development Minister, later declared that the Sky Train project was no longer feasible due to its high capital demands. In an interview on City TV’s Face to Face, he stated, “I don’t see any Sky Train being done in the next three to four years. There is not going to be any Sky Train in the country. It is not possible.”

    Amewu further highlighted the government’s fiscal challenges, noting, “Rail construction is capital-intensive. A kilometre of railway can cost four to five times more than building an asphalt road. Given our current debt-to-GDP ratio, it’s a significant burden for the government.”

    The future of the Accra Sky Train Project remains uncertain as investigations continue and financial constraints persist.

  • List of Akufo-Addo’s appointees under NIB investigation

    List of Akufo-Addo’s appointees under NIB investigation

    A security agency, National Intelligence Bureau (NIB) has initiated probes into several former officials who served under ex-President Akufo-Addo.

    These individuals are being examined for different reasons, including suspected financial misconduct and controversial public remarks. Some are accused of corruption, while others are being questioned over statements they made in the media.

    Key investigations involve the failed Accra Sky Train project and alleged fraud in the National Service payroll, both of which have sparked widespread attention.

    Officials under investigation

    Prof. Christopher Ameyaw-Akumfi

    Professor Christopher Ameyaw-Akumfi, the ex-Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), was taken into custody by the NIB on Sunday, February 23, 2025, over his alleged involvement in the collapsed $3 billion Accra Sky Train project.

    A report from 3News, citing sources close to the matter, indicates that he was apprehended early that morning for allegedly sanctioning a $2 million payment to Africa Investor Holdings, the company behind the proposed project.

    The report further stated that the payment was made without prior feasibility assessments, and the money has not been reimbursed to the state.

    Initially unveiled by former President Akufo-Addo as a transformative initiative to improve urban transport, the Accra Sky Train project later became entangled in allegations of financial mismanagement and procedural lapses.

    Following his detention, Prof. Ameyaw-Akumfi has since been released, though investigations into the project are ongoing.

    Kwame Baffoe (Abronye)

    Kwame Baffoe, popularly known as Abronye, a former board member of the Tema Oil Refinery (TOR), has been called in by the NIB over claims he made regarding President John Dramani Mahama.

    Abronye accused Mahama of concealing GH¢550 million inside a bullion van at the Jubilee House.

    He further asserted that the funds, originally earmarked for compensating dismissed appointees, had been illicitly diverted.

    His allegations, which have stirred considerable controversy, prompted the NIB to request his presence to provide evidence supporting his claims. He is scheduled to appear before the bureau in the coming days.

    “The truth is that former president and now president, His Excellency John Dramani Mahama… the first crime he has committed against Ghanaians is the revocation of appointments. They have stolen a lot of money from Ghanaians through this action.

    “This is thievery if you don’t know… it is money they have stolen, not just about the revocation of appointments,” he claimed.

    NPP Regional Chairman’s claims

    A regional chairman of the New Patriotic Party (NPP) has asserted that funds sanctioned by the previous administration, under Nana Addo Dankwa Akufo-Addo, were designated to cover salaries for newly hired public sector employees, including 15,000 nurses and an equal number of teachers.

    He argued that the Akufo-Addo-led government had factored these payments into the 2025 fiscal plan, ensuring financial coverage for individuals now facing dismissal under President John Dramani Mahama’s administration.

    The NPP official has been called in for questioning by the NIB and is set to appear before the bureau on February 26, 2025.


    Ken Ofori-Atta’s Home Searched

    Former Finance Minister Ken Ofori-Atta’s residence was searched by operatives of the National Intelligence Bureau (NIB), under the direction of Richard Jakpa, the head of Special Operations at the National Security Secretariat.

    On February 11, 2025, approximately 12 armed officers combed through the ex-minister’s Cantonments home in a comprehensive search. However, Ofori-Atta was not on the premises at the time, as he is currently abroad undergoing medical treatment.

    Reports indicate that law enforcement secured legal authorization to carry out the operation, which is part of broader investigations into financial activities during his tenure.
    Kwaku Ohene Gyan Taken Into Custody

    Former Deputy Director of Operations at the National Service Authority (NSA), Kwaku Ohene Gyan, also known as Osonoba, was apprehended by the NIB on February 22, 2025.

    According to reports, he was pursued by two pickup trucks before being intercepted and swiftly transported to the NIB headquarters.

    While the exact grounds for his detention remain undisclosed, his arrest is believed to be linked to the ongoing probe into payroll fraud at the NSA. President John Dramani Mahama had directed authorities to investigate the agency after 81,885 suspected ghost names were identified on its payroll.


  • Former NSA Deputy Director reportedly detained by NIB

    Former NSA Deputy Director reportedly detained by NIB

    Kwaku Ohene Gyan, widely known as Osonoba and a former Deputy Director of Operations at the National Service Authority (NSA), has reportedly been detained by the National Intelligence Bureau (NIB).

    Sources reveal that he was taken into custody on Saturday evening and is currently being held at the NIB’s facility in Kawukudi.

    The reason for his detention has not yet been disclosed. However, his legal representatives are scheduled to meet with him tomorrow to discuss the situation and explore legal avenues for his release. It remains uncertain whether his arrest is connected to the recent scandal involving the NSA.

    In a separate development, Prof. Christopher Ameyaw-Akumfi, the former Chairman of the Public Procurement Authority (PPA) Board, has been released from NIB custody following a brief detention. His arrest was reportedly tied to an investigation into financial dealings during his tenure as Board Chairman of the Ghana Infrastructural Investment Fund (GIIF).

    The release was confirmed by his lawyer, Ken Kuranchie, who shed light on the circumstances leading to his client’s detention. “Prof Ameyaw-Akumfi was at his home Sunday morning when a group of men in three pickups arrived and informed him that he was needed at the NIB,” Kuranchie explained.

    Prof. Ameyaw-Akumfi was held at the NIB’s Kawukudi offices near Nima in the Greater Accra Region as part of the ongoing investigation before being granted release.

  • Former PPA Board Chair released from NIB custody

    Former PPA Board Chair released from NIB custody

    Prof. Christopher Ameyaw-Akumfi, the former Chairman of the Public Procurement Authority (PPA) Board, has been freed from the custody of the National Intelligence Bureau (NIB).

    His release comes after a brief detention linked to an investigation into financial activities during his time as the Board Chairman of the Ghana Infrastructural Investment Fund (GIIF).

    The development was confirmed by his legal representative, Ken Kuranchie.

    Detailing the circumstances of his client’s apprehension, Kuranchie stated, “Prof Ameyaw-Akumfi was at his home Sunday morning when a group of men in three pickups arrived and informed him that he was needed at the NIB.”

    Prof. Ameyaw-Akumfi had been held at the NIB’s Kawukudi offices, located near Nima in the Greater Accra Region, as part of the ongoing inquiry.

  • Former PPA Board Chair detained by NIB – Report

    Former PPA Board Chair detained by NIB – Report

    Professor Christopher Ameyaw-Akumfi, the former Chairman of the Public Procurement Authority (PPA) Board, has been detained by the National Intelligence Bureau (NIB) at its Kawukudi offices near Nima in the Greater Accra Region.

    The reasons behind his detention remain undisclosed, as authorities have yet to issue an official statement clarifying the circumstances, according to reports.

    Professor Ameyaw-Akumfi, who also served as Ghana’s Minister of Education, was reportedly apprehended by NIB operatives. His legal team has since mobilized, taking immediate steps to secure his release.

    Lawyers representing the former PPA Board Chair are actively engaging with NIB officials to determine the grounds for his arrest and ensure that his rights are upheld.

    Currently, his legal representatives are stationed at the NIB headquarters, pushing for bail as they navigate the legal channels necessary for his release.

  • I’ll go and face them – Abronye reacts to NIB invitation

    I’ll go and face them – Abronye reacts to NIB invitation

    Bono Regional Chairman of the New Patriotic Party (NPP), Kwame Baffoe, popularly known as Abronye DC, has responded to his invitation by the National Investigations Bureau (NIB), vowing to honour the summons and defend himself against any allegations.

    The NIB has summoned Abronye to appear on February 26, regarding claims he made against former President John Mahama. The bureau is seeking evidence to support his allegations that President Mahama is withholding GH₵550 million intended for dismissed appointees at the Jubilee House.

    Speaking to Channel One News on Saturday, February 22, Abronye confirmed his readiness to cooperate with the investigation.

    “There was a money intended for those employees whose appointment letter have been terminated, and no government will recruit for that budgeting. So I’ll go and face them. I haven’t seen the criminal element of that. So they said I should come and assist them in investigation. So let’s go and then take it from there,” he stated.

    Abronye also expressed concerns about what he perceives as selective investigations by the NIB, suggesting political bias in the bureau’s actions.

    “Then after that, we can read meaning to their invitation whether they are trying to reintroduce the culture of silence that everybody spoke against some time ago. I don’t see the criminal element of this issue for BNI to take or invite me to assist them when the current government appointees have made wild allegation, and the director of BNI hasn’t invited any of them.”

    He further criticised the NIB for failing to act on other serious allegations made against current government officials.

    “Wild allegation, serious that Akyem mafia we are hoarding gold outside, the MIIF. There are monies that they have stolen. A lot of things. So the director of, national investigation did not invite any of them. So we will go and prove to them that they are doing selectivity in their work,” Abronye charged.

    The allegations in question reportedly stem from comments Abronye made during an interview on Accra-based Movement Television, where he accused the government of corruption in recruitment and the revocation of appointments.

    Despite the investigation, Abronye maintains that his claims are valid and insists he will cooperate fully to clear his name.

  • Abronye DC summoned by NIB over GHc550m hoarding claims against Mahama

    Abronye DC summoned by NIB over GHc550m hoarding claims against Mahama

    The Bono Regional Chairman of the opposition New Patriotic Party (NPP), Kwame Baffoe, widely known as Abronye DC, has been summoned by the National Investigation Bureau (NIB) over allegations he made against former President John Dramani Mahama.

    In a letter issued by the Bono Regional Commander of the NIB, Abronye was invited to assist with investigations following claims he made during a television interview.

    According to the letter, Abronye alleged that President Mahama was hoarding GH¢550 million intended for disbursal to former appointees at the Jubilee House.

    The NPP regional chairman also leveled accusations of corruption linked to the revocation of appointments made by the previous administration.

    The NIB directive instructs Abronye to appear at the Bureau’s office in Accra on February 26, 2025, to provide further clarification on his claims.

    “I have been instructed by the Director of Investigations of the National Intelligence Bureau (NIB) to invite you to meet him on Wednesday, February 26, 2025, at 10:00 AM at KAWUKUDU in the Greater Accra Region to assist the Bureau in investigating the allegations you leveled against His Excellency President John Dramani Mahama,” the letter reads.

    The allegations, made during an appearance on Movement in the Morning, a breakfast show on Movement TV hosted by Kwaku Dawuro, include claims that Mahama is allegedly withholding GH¢550 million meant for dismissed government appointees.

    The letter further stated, “You further accused the administration of corruption in the recruitment and revocation processes.”

    Abronye is expected to provide evidence or clarification to aid the investigation into these serious claims.

  • Probe ghost names scandal at NSA – Mahama orders NIB

    Probe ghost names scandal at NSA – Mahama orders NIB

    President John Dramani Mahama has directed the National Investigations Bureau (NIB) to launch an immediate probe into alleged payroll fraud at the National Service Authority (NSA) after a recent audit uncovered tens of thousands of ghost names.

    The directive follows the completion of a nationwide headcount, which revealed that 81,885 names on the NSA payroll were fictitious. The exercise, conducted at the request of the Finance Ministry, was a prerequisite for clearing outstanding allowance arrears owed to National Service personnel since August 2024.

    After verifying the actual number of service personnel, the Finance Ministry disbursed GHS226,019,224 to settle arrears for 98,145 legitimate individuals.

    This figure was significantly lower than the 180,030 names submitted for payment by the previous NSA management in 2024, raising serious concerns about financial mismanagement and possible corruption.

    In response to the alarming discovery, President Mahama has instructed the newly appointed NSA leadership to implement swift reforms aimed at strengthening internal controls and preventing future occurrences of payroll fraud.

    In December last year, a High Court in Accra struck out an application for injunction filed by the National Service Authority (NSA) against the publication of an investigative report by The Fourth Estate, the investigative journalism project of the Media Foundation for West Africa (MFWA).

    Lawyers for the MFWA, led by Mr. Samson Anyenini, were in court on December 19, 2024, to file processes to challenge the case as being frivolous and abuse of the court process, and thus, to ask the court to throw out the case.

    But even before the MFWA’s lawyers could mount their defense, the NSA’s lawyers from Sam Okudzeto and Associates, beat a hasty retreat. They announced to the court that they had filed a notice of discontinuance of their case.

    Lawyers for the MFWA then told the court that the NSA knew very well that they had no cause of action and no capacity to sue, and thus, the discontinuance notice was a preemptive action.

    Counsel for the MFWA further told the court that the NSA’s action was a SLAPP suit only for the purpose of the ex-parte injunction to serve their interest.

    The case was accordingly struck out by the court. The court then awarded a cost of GHC6,000 in favour of the MFWA. The court also prohibited the NSA from coming back to court to refile the case. 

  • NIB Director Attobrah Quaicoe, who clashed with ORAL sacked, replaced with Charles Kipo

    NIB Director Attobrah Quaicoe, who clashed with ORAL sacked, replaced with Charles Kipo

    Director-General of the National Intelligence Bureau (NIB), Nana Attobrah Quaicoe, who was contesting allegations of illegal acquisition of a state land parcel at El Wak by ORAL Committee member Martin Kpebu, has been sacked.

    In a Facebook post by Jubilee House, it was communicated that Charles Kipo now will serve as the Director-General of the National Intelligence Bureau (NIB). This news was among other appointments made by President Mahama.

    Nana Attobrah Quaicoe’s legal team, KUDZE, KUDZE@LAW, had earlier refuted claims made by ORAL Committee member Martin Kpebu, who alleged that Mr. Quaicoe had offered to return the land in exchange for halting further actions against him. These claims were made during an appearance on TV3’s Keypoints show, where Kpebu linked the NIB Director to questionable government land dealings.

    In a statement, Mr. Quaicoe’s lawyers described the allegations as “contrived, false, and without any basis,” insisting that their client had not engaged with any ORAL Committee member, including Hon. Samuel Okudzeto Ablakwa, regarding the land in question. The statement further emphasized that Mr. Quaicoe neither owned nor had any interest in unlawfully acquired government property.

    “Mr. Quaicoe is committed to transparency and legal processes, and the accusations levied against him are entirely baseless,” the statement stressed, adding that the allegations seemed aimed at tarnishing his reputation. The legal team called for a public retraction from Martin Kpebu and warned that failure to do so could result in legal action.

    In reaction, Samuel Okudzeto Ablakwa, in a Facebook post, questioned the basis of Mr. Quaicoe’s denial, stating:

    “So what exactly is the former Director-General of the National Intelligence Bureau, Nana Attobrah Quaicoe denying?

    1. Is he denying that he bought our prime Cantonments state land from President Akufo-Addo at a terribly insulting GHS160,157.00 — that is for less than US$11,000? (See incontrovertible evidence from Lands Commission attached)
    2. Is he denying the fact that the real conservative market value for that piece of land is in excess of US$700,000.00 (GHS10.5 million)?
    3. Is he denying that his government failed to comply with the Land Use and Spatial Planning Act, 2016 (Act 925) by not seeking parliamentary approval when they claimed to have carried out rezoning?
    4. Is he denying that he caused an assign to reach out on this matter?

    I honestly don’t understand what his denials are about. Indeed, interesting days ahead.”

  • ORAL hits back at NIB Director over illegal El Wak land acquisition claim

    ORAL hits back at NIB Director over illegal El Wak land acquisition claim

    The Lead of the Operation Recover All Loot (ORAL) Committee, Samuel Okudzeto Ablakwa, has responded strongly to comments made by the Director-General of the National Intelligence Bureau (NIB), Nana Attobrah Quaicoe, regarding allegations of illegal acquisition of a state land parcel at El Wak.

    Nana Attobrah Quaicoe’s legal team, KUDZE, KUDZE@LAW, had earlier refuted claims made by ORAL Committee member Martin Kpebu, who alleged that Mr. Quaicoe had offered to return the land in exchange for halting further actions against him. These claims were made during an appearance on TV3’s Keypoints show, where Kpebu linked the NIB Director to questionable government land dealings.

    In a statement, Mr. Quaicoe’s lawyers described the allegations as “contrived, false, and without any basis,” insisting that their client had not engaged with any ORAL Committee member, including Hon. Samuel Okudzeto Ablakwa, regarding the land in question. The statement further emphasized that Mr. Quaicoe neither owned nor had any interest in unlawfully acquired government property.

    “Mr. Quaicoe is committed to transparency and legal processes, and the accusations levied against him are entirely baseless,” the statement stressed, adding that the allegations seemed aimed at tarnishing his reputation. The legal team called for a public retraction from Martin Kpebu and warned that failure to do so could result in legal action.

    In reaction, Samuel Okudzeto Ablakwa, in a Facebook post, questioned the basis of Mr. Quaicoe’s denial, stating:

    “So what exactly is the former Director-General of the National Intelligence Bureau, Nana Attobrah Quaicoe denying?

    1. Is he denying that he bought our prime Cantonments state land from President Akufo-Addo at a terribly insulting GHS160,157.00 — that is for less than US$11,000? (See incontrovertible evidence from Lands Commission attached)
    2. Is he denying the fact that the real conservative market value for that piece of land is in excess of US$700,000.00 (GHS10.5 million)?
    3. Is he denying that his government failed to comply with the Land Use and Spatial Planning Act, 2016 (Act 925) by not seeking parliamentary approval when they claimed to have carried out rezoning?
    4. Is he denying that he caused an assign to reach out on this matter?

    I honestly don’t understand what his denials are about. Indeed, interesting days ahead.”

    Mr. Ablakwa reiterated his commitment to fighting state asset misuse and emphasized the need for reforms through his proposed Private Member’s Bill aimed at barring political appointees and politically exposed persons from acquiring state property.

    “This is why I get even more convinced every passing day that my Private Member’s Bill seeking to prohibit political appointees and politically exposed persons from buying state assets must be passed without further delay — and this shall surely happen in this 9th Parliament.

    I am excited that President Mahama gives us hope that the era of State Capture is over!” he concluded.

  • I haven’t reached out to ORAL about acquired land at El Wak – NIB Director threatens suit

    I haven’t reached out to ORAL about acquired land at El Wak – NIB Director threatens suit

    The legal representation of Nana Attobrah Quaicoe, the Director-General of the National Intelligence Bureau (NIB), has denied allegations that its client contacted the Operation Recover All Loot (ORAL) Committee regarding the return of a state land parcel allegedly acquired illegally.

    The allegations, made by ORAL Committee member Martin Kpebu, suggested that Mr. Quaicoe had agreed to relinquish the land in exchange for the committee ceasing further actions against him.

    In a statement issued by KUDZE, KUDZE@LAW on behalf of Mr. Quaicoe, the claims were described as “contrived, false, and without any basis.” The statement emphasized that Mr. Quaicoe had not engaged with any member of the ORAL Committee, including Hon. Samuel Okudzeto Ablakwa, on state land matters.

    It further clarified that Mr. Quaicoe does not own or hold any illegally acquired government land, refuting Kpebu’s assertions made during a TV3 appearance on “Keypoints.”

    The said statement reiterated Mr. Quaicoe’s commitment to transparency and legal processes, calling the accusations baseless and aimed at damaging his reputation.

    “We urge the public to disregard these false statements calculated to injure our client’s reputation,” the statement read. It also demanded a retraction from Martin Kpebu, warning that failure to do so could lead to legal action to protect Mr. Quaicoe’s name and rights.

    The legal team, led by Saviour Quarcoo Kudze, reaffirmed their commitment to defending their client’s integrity and ensuring the truth prevails.

    ORAL was established by President John Dramani Mahama on December 18, 2024, to recover unlawfully acquired state assets, particularly from past administrations. The five-member team, led by Samuel Okudzeto Ablakwa, is tasked with promoting accountability and restoring public trust in state asset management.

  • NIB Director has decided to return land at El Wak illegally acquired – ORAL 

    NIB Director has decided to return land at El Wak illegally acquired – ORAL 

    A member of the ORAL team, Martin Kpebu, has disclosed that the Director of the National Investigation Bureau (NIB), Nana Attobrah Quaicoe, has voluntarily decided to return a parcel of state land he unlawfully acquired.

    According to Channel One News, in a telephone interview, Mr Kpebu revealed that the director personally contacted the chairman of the government’s Operation Recover All Loot (ORAL), Samuel Okudzeto Ablakwa, to communicate his decision.

    The land in question is located in the agri-mechanisation lands area, opposite the El Wak Stadium in Accra. Kpebu pointed out significant irregularities in the rezoning process, describing it as fundamentally flawed and illegitimate.

    “The director of the NIB, Mr. Nana Attobrah Quaicoe called our chairman, Samuel Okudzeto Ablakwa to inform him that he was willing to relinquish his parcel of land in the agri-mechanisation lands area which are practically opposite the El Wak Stadium,” Kpebu stated.

    He further explained, “It is government land basically, but the Akufo-Addo administration illegally rezoned it. The checks at the Town and Country Planning show that they didn’t go through the right procedure. Parliament was not involved in the rezoning, etc., so that rezoning itself is problematic. And so the beneficiaries of these lands have not properly acquired any land.”

    ORAL, established by President John Dramani Mahama on December 18, 2024, is tasked with recovering state properties and assets unlawfully taken by individuals, especially during past administrations. The five-member team, led by Samuel Okudzeto Ablakwa, aims to ensure accountability and restore public confidence in the management of state assets.

  • National Security Ministry denies claims of kidnapping Emirates Manager, Sylvia Baah

    National Security Ministry denies claims of kidnapping Emirates Manager, Sylvia Baah

    The Ministry of National Security has strongly denied allegations made by the Herald Newspaper, which claimed that officers from the Ministry and the National Intelligence Bureau (NIB) were involved in the abduction of the Emirates Airlines manager at Kotoka International Airport, Sylvia Patience Baah.

    On November 22, the Police launched an investigation into the alleged kidnapping of Mrs. Baah, who was reportedly taken from her residence in Accra on November 21, 2024.

    However, the Police later confirmed that she had been found and returned safely to her family.

    Despite this, the Herald report suggested that individuals within the national security apparatus were complicit in her disappearance.

    In response, the Ministry issued a press release on November 25, 2024, categorically denying any involvement in the alleged abduction.

    It described the report as unfounded and urged the public to disregard the claims.

    “The Ministry wishes to categorically state that no officer from the Ministry or the National Intelligence Bureau was involved in the alleged abduction of Sylvia Baah,” the statement read.

    The Ministry also reassured the public that a thorough investigation is underway and emphasized that those responsible for the incident will face legal consequences once the inquiry is complete.

  • Leaked NIB report on NAPO and NPP running mate selection stuns many

    Leaked NIB report on NAPO and NPP running mate selection stuns many

    A confidential report from the National Intelligence Bureau (NIB) on the New Patriotic Party’s (NPP) choice of a running mate has been leaked, causing a stir in the political arena.

    The report is based on a survey conducted among 5,116 party members over two days in mid-June. It provides insights into the party’s preferences and internal dynamics.

    The survey aimed to measure support for Dr Yaw Matthew Opoku-Prempeh, also known as NAPO, who is currently the Minister of Energy and represents Manhyia South in the Ashanti Region.

    Initial reports suggested strong backing for NAPO, with some indicating up to 70 percent support for his candidacy as running mate to Dr. Mahamudu Bawumia, the party’s flagbearer.

    However, the leaked report reveals that 84 percent of respondents saw NAPO as the best choice for Dr Bawumia, and 88 percent considered him the party’s preferred candidate.

    Interestingly, 89 percent were open to any candidate chosen by Dr. Bawumia. This challenges earlier assumptions and highlights the members’ flexibility regarding the running mate selection.

    Critics have questioned the NIB’s methodology and conclusions, accusing the bureau of bias. Some party members and political analysts suggest that the survey might have favoured NAPO by limiting respondents’ choices, potentially skewing the results.

    The report has sparked a debate about transparency and inclusivity within the NPP’s decision-making process. Concerns have been raised about the exclusion of prominent female figures, despite their significant contributions to the party.

    In response to the leaked report, party members have expressed differing opinions. Some continue to support NAPO’s candidacy, while others see it as an attempt to pressure Dr. Bawumia into selecting NAPO as his running mate.

    The leaked NIB report has exposed internal divisions within the NPP and ignited a debate about fairness and the integrity of the party’s nomination process.

    With elections approaching, the NPP leadership faces the challenge of navigating these issues to achieve electoral success.

  • You can’t conduct NPP political polls with our taxes – Ablakwa fires NIB

    You can’t conduct NPP political polls with our taxes – Ablakwa fires NIB

    Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has voiced strong objections to the National Investigation Bureau (NIB), a state intelligence institution, conducting a poll funded by taxpayers to select a running mate for the New Patriotic Party (NPP) in the upcoming 2024 general elections.

    Speaking on JoyNews’ Newsfile, Mr Ablakwa criticized the government for using a state institution to conduct a poll about the selection of a running mate for its flagbearer.

    He argued that if the government wants to conduct such a poll, it should use party funds and engage academics or other organizations, rather than using state funds.

    “There are so many organizations in this country, academics in the universities – go and engage them with your party money – dues from your members. Don’t use our organization, a state-run organization run with our taxes. This is abuse of office,” he emphasized.

    Mr Ablakwa’s remarks follow reports that the NIB conducted a survey on a potential running mate for the NPP flagbearer, Dr. Mahamudu Bawumia.

    The survey indicated that Energy Minister Dr. Matthew Opoku Prempeh was widely preferred over Education Minister Dr. Osei Adutwum and other party members as the running mate.

    Mr Ablakwa questioned the relevance of conducting such a poll for a governing party’s running mate and emphasized that the job of the NIB is to prioritize the national security interests of the country.

    “How does choosing NAPO, Adutwum or whoever become relevant to the national security interest of our country? Serious mandate given to this body and you go about conducting NPP polls – with my taxpayer’s money? How do they expect NDC members to feel, neutrals to feel? That’s what they are doing with our taxes,” he added.

  • NIB survey reveals Opoku Prempeh as Bawumia’s preferred running mate

    NIB survey reveals Opoku Prempeh as Bawumia’s preferred running mate

    The Energy Minister, Dr. Matthew Opoku Prempeh, has emerged as the favored candidate among New Patriotic Party (NPP) members to be the running mate of the party’s flagbearer, Dr. Mahamudu Bawumia, according to a recent survey by the National Investigation Bureau (NIB).

    The survey engaged 5,116 NPP delegates from across the nation, encompassing national, regional, constituency, and polling station executives. The results revealed that Dr. Opoku Prempeh secured a commanding 76.2% of the responses, positioning him as the top choice among party members.

    Trailing behind him was the Minister of Education and Member of Parliament for Bosomtwe, Dr. Yaw Osei Adutwum, who received 10.16% of the delegates’ support. Other notable figures considered for the role include Apostle Opoku Onyinah, former Chairman of the Pentecost Church-Ghana, and Bryan Acheampong, the Minister of Agriculture and MP for the Abetifi Constituency.

    With the 2024 general elections just six months away, Dr. Bawumia faces the critical decision of selecting a running mate from among the party’s prominent figures. The survey also highlighted a strong consensus among respondents that the running mate should be chosen from the Ashanti Region, with approximately 84% of participants advocating for this preference.

    The NIB report underscores the appeal of Dr. Opoku Prempeh, noting his charisma and widespread popularity among party members as key factors in his favor. However, it also cautions Dr. Bawumia to consider potential challenges associated with Dr. Prempeh’s current role as Energy Minister.

    “Given Dr. Prempeh’s current role as the Minister of Energy, the ongoing power crises in Ghana could impact his candidacy. Therefore, the government may need to implement necessary measures to solidify his competence in managing the energy sector, thereby enhancing the party’s prospects in the 2024 general elections,” the report advised.

    As the NPP gears up for the upcoming elections, the selection of a running mate remains a pivotal decision, one that could significantly influence the party’s performance and appeal to voters.

  • NIB to lose investment over appointment of NPP PC as MD – Bia East MP

    NIB to lose investment over appointment of NPP PC as MD – Bia East MP

    The Deputy Ranking Member on the Finance Committee of Parliament, Richard Acheampong, has expressed concerns over the government’s decision to appoint politically exposed individuals to the management of the National Investment Bank (NIB).

    Tweneboah Kodua Fokuo, who is running as the Manso Nkwanta parliamentary candidate for the ruling New Patriotic Party (NPP), has been appointed by President Akufo-Addo as the Managing Director of the National Investment Bank (NIB).

    Mr Acheampong argues that such appointments could have severe repercussions for the bank’s operations and overall stability.

    The Bia East MP contends that appointing politically connected individuals to key management positions at NIB may erode confidence among investors and depositors, particularly those aligned with opposition parties.

    He warns that these dissatisfied investors and depositors might withdraw their funds, potentially destabilizing the bank.

    “People are complaining about the good corporate governance of NIB. It is part of the problem, so if you appoint a politically exposed person to manage state institutions, not any other state institutions, or a financial institution, many people who are also affiliated with another political party are going to withdraw their investment from the bank.

    “So that was a very bad decision taken by the government. But we are yet to get to know the details of this GH¢2.3 billion and we will look at the terms.”

    His remarks follow the government’s recent approval of GH¢2.3 billion to recapitalize the National Investment Bank.

    While this financial injection aims to strengthen the bank’s capital base and ensure its continued operation, the Bia East legislator insists that appointing politically exposed persons to key management positions could undermine these efforts.

    The first tranche of GH¢400 million is set to be transferred to the bank before the end of May 2024.

    Finance Minister Dr. Mohammed Amin Adam announced this approval at the Ministry of Finance’s monthly briefing, stating that the process aims to strengthen the bank’s governance structure, operational efficiency, supervision, and risk management.

  • NIB has been used to loot and share, it must be collapsed – Franklin Cudjoe

    NIB has been used to loot and share, it must be collapsed – Franklin Cudjoe

    President of IMANI Africa, Franklin Cudjoe, has criticized successive governments for allegedly misappropriating funds from the National Investment Bank (NIB), arguing that the bank has failed to achieve its intended objectives and should cease operations.

    His comments come in response to the Ministry of Finance’s announcement that the cabinet has approved a substantial amount of GH¢2.3 billion for the restructuring and recapitalization of NIB.

    During a media briefing on the economy, Dr. Mohammed Amin Adam, the sector minister, revealed that the initial tranche of GH¢400 million would be disbursed to the bank before the end of May 2024.

    This funding aims to enhance governance structures, operational efficiency, supervision, and risk management, ultimately ensuring the financial sustainability of NIB.

    “As part of the implementation of the PC-PEG, the Cabinet has approved the plan for restructuring and recapitalization of the National Investment Bank (NIB). This will involve a programmed equity injection of about GH¢2.3 billion over the next 12 months, with the first tranche of GH¢400 million expected to be transferred to NIB before the end of this month,” Dr Adam stated.

    However, in a Facebook post on Sunday, May 26, Mr. Cudjoe expressed dismay over the new development. He highlighted the irony of successive administrations allegedly misappropriating funds from NIB while simultaneously injecting taxpayers’ money into it.

    “That bank must just be killed. Politicians of all shades have pillaged the state bank and yet, successive governments keep fueling it with our taxes, especially during elections!

    “The state’s loot-happy bank has never recorded a $1 profit since 2013. Even in a debt-distressed state, we continue this shackling! This is completely unacceptable!” he said.

  • Govt commits GHS2.3bn to NIB restructuring and recapitalization

    Govt commits GHS2.3bn to NIB restructuring and recapitalization

    The government has approved GH¢2.3 billion for the restructuring and recapitalization of the National Investment Bank (NIB).

    The initial GH¢400 million tranche is slated to be transferred to the bank by the end of May 2024.

    Dr. Mohammed Amin Adam announced the approval during the Ministry of Finance’s monthly briefing, highlighting that the restructuring and recapitalization efforts aim to bolster the bank’s governance structure, operational efficiency, supervision, and risk management, ensuring its financial viability.

    “Ladies and gentlemen, as part of the implementation of the PC-PEG, the Cabinet has approved the plan for restructuring and recapitalization of the National Investment Bank (NIB).

    This will involve a programmed equity injection of about GH¢2.3 billion over the next 12 months, with the first tranche of GH¢400 million expected to be transferred to NIB before the end of this month.

    “The plan also includes measures to strengthen the governance structure and operational efficiency, enhance supervision, and improve risk management to improve and sustain the financial viability of NIB.”

    “It is clear that this is not about the interest of NIB. This is the last step towards passing through the back door to acquire NIB and ABD for themselves in a state capture,” Isaac Adongo said at a press briefing.

  • Gov’t to spend GHC2.3bn on restructuring and revitalizing NIB

    Gov’t to spend GHC2.3bn on restructuring and revitalizing NIB

    The government has approved GH¢2.3 billion for the restructuring and recapitalization of the National Investment Bank (NIB).

    The first tranche of GH¢400 million is set to be transferred to the bank before the end of May 2024.

    Finance Minister Dr. Mohammed Amin Adam announced this approval at the Ministry of Finance’s monthly briefing, stating that the process aims to strengthen the bank’s governance structure, operational efficiency, supervision, and risk management.

    These measures are intended to enhance and sustain the financial viability of NIB.

    “Ladies and gentlemen, as part of the implementation of the PC-PEG, the Cabinet has approved the plan for restructuring and recapitalization of the National Investment Bank (NIB). This will involve a programmed equity injection of about GH¢2.3 billion over the next 12 months, with the first tranche of GH¢400 million expected to be transferred to NIB before the end of this month.

    “The plan also includes measures to strengthen the governance structure and operational efficiency, enhance supervision, and improve risk management to improve and sustain the financial viability of NIB.”

    In September 2023, the Minority Caucus in Parliament alleged that the government planned to sell the National Investment Bank to its allies.

    This accusation came after the government announced intentions to either merge the bank with the Agricultural Development Bank or shut it down.

    “It is clear that this is not about the interest of NIB. This is the last step towards passing through the back door to acquire NIB and ABD for themselves in a state capture,” Isaac Adongo said at a press briefing.

  • Calls to remove Tweneboah Kodua Fokuo as NIB MB unwarranted – Govt’s spokesperson

    Calls to remove Tweneboah Kodua Fokuo as NIB MB unwarranted – Govt’s spokesperson

    Government spokesperson on governance and security, Dr. Palgrave Boakye-Danquah, has dismissed calls from Kwabena Donkor for the removal of Tweneboah Kodua Fokuo as Managing Director of the National Investment Bank (NIB), asserting that they lack any merit.

    According to Dr. Boakye-Danquah, Fokuo is competent to rejuvenate NIB.

    He emphasized that there is no issue with Fokuo’s appointment as he possesses the necessary qualifications.

    However, the Minority contends that the CEO of a struggling bank should not have conflicting priorities.

    Dr. Boakye-Danquah argued that since the individual in question meets all the criteria set by the Bank of Ghana to lead a bank, the call for his removal is unwarranted.

    “There are ministerial members of our parliament, some of whom handle important portfolios.

    “Therefore, I believe that people are capable of thinking of more than only elections. We even have a vice president running for president, ”Palgrave Boakye-Danquah told Accra-based Adom FM.

    He served as the Deputy Managing Director of National Investment Bank Ghana PLC (NIB) before his appointment, having joined the Bank in 2019.

    During his tenure at NIB, he played a crucial role in the bank’s turnaround and was specifically responsible for overseeing Risk Management and Operations.

    His arrival at NIB in 2019 coincided with the bank’s need for the full implementation of its Enterprise Risk Model (ERM) to commence its transformational journey. The execution of the ERM Model and the introduction of best practices in governance have established the necessary controlled environment for sound banking.

    He argued that if the minority group’s concern is about time commitment, they have no grounds to call for his removal, citing Kwabena Donkor’s concurrent roles as CEO of the National Petroleum Authority and Member of Parliament for Pru East.

    He maintained that Mr. Fokuo met all requirements before his appointment, asserting that Ghana’s President, His Excellency Nana Addo Dankwa Akufo Ado, did not violate any laws or the constitution in appointing him.

  • Ato Forson accuses Akufo-Addo of converting NIB into a center for party loyalists

    Ato Forson accuses Akufo-Addo of converting NIB into a center for party loyalists

    The Minority in Parliament has raised apprehensions regarding the government’s handling of the National Investment Bank (NIB), alleging that it has become predominantly a platform for members of the New Patriotic Party (NPP).

    Their worry stems from the recent appointment of Tweneboa Kodua Fokuo, previously the NPP’s Parliamentary Candidate for Manso Nkwanta, as the Managing Director of NIB.

    Adding to their unease, the caucus contends that the situation is exacerbated by the appointment of a politically active individual, who had previously contested for the Fomena Member of Parliament seat, as the bank’s Deputy Managing Director.

    Addressing journalists in Accra on Wednesday, Minority Leader Dr. Cassiel Ato Forson expressed reservations about these developments, highlighting potential implications for the bank’s operations and impartiality.

    “President Akufo-Addo is destroying the governance of our country. In the sense that even banks, a typical example like the NIB has been turned into a hub where they harbour foot soldiers of the party. You have a bank that is struggling, a bank that is almost collapsed, a bank that we know that the governance structure regime is extremely poor but we all want to nurture the bank because obviously it is a state bank.

    “This president in spite of all the problems of the NIB has decided to appoint a PC, someone who is going to contest the election in six months as the MD of the state bank, NIB. And I am surprised at the governor, Governor Addison the printer also had the temerity to approve such a person to become the MD of the NIB.”

    “The deputy of the same politically exposed person who is now the MD of the NIB is also another politically exposed person,” he stated.

    However, Tweneboah Kodua Fokuo has assured that he is proficient in time management and can effectively balance both roles. He emphasized that there would be no conflicts between them.

    The newly appointed Managing Director, formerly the Deputy MD of the bank, is also the parliamentary candidate for Manso Nkwanta in the Ashanti Region under the ruling New Patriotic Party (NPP).

  • NIB now a centre for NPP foot soldiers – Minority alleges

    NIB now a centre for NPP foot soldiers – Minority alleges

    Minority in Parliament has raised concerns about the government’s management of the National Investment Bank (NIB), alleging that it has turned into a platform primarily for members of the New Patriotic Party (NPP).

    Their apprehension arises from the recent appointment of Tweneboa Kodua Fokuo, the current NPP parliamentary candidate for Manso Nkwanta, as the Managing Director of the NIB.

    Adding to their worries, the caucus pointed out that the situation is exacerbated by the appointment of a politically-active individual, who had previously contested for the Fomena Member of Parliament seat, as the bank’s deputy Managing Director.

    Addressing journalists in Accra on Wednesday, the Minority Leader, Dr. Cassiel Ato Forson, expressed reservations about such developments, emphasizing the potential implications for the bank’s operations and impartiality.

    “President Akufo-Addo is destroying the governance of our country. In the sense that even banks, a typical example like the NIB has been turned into a hub where they harbour foot soldiers of the party.

    You have a bank that is struggling, a bank that is almost collapsed, a bank that we know that the governance structure regime is extremely poor but we all want to nurture the bank because obviously it is a state bank.

    “This president in spite of all the problems of the NIB has decided to appoint a PC, someone who is going to contest the election in six months, as the MD of the state bank, NIB.

    And I am surprised at the governor – Governor Addison the printer, also had the temerity to approve such a person to become the MD of the NIB.

    “The deputy of the same politically exposed person, who is now the MD of the NIB, is also another politically exposed person,” he stated.

    Tweneboah Kodua Fokuo has assured that he is capable of effectively managing both roles without conflict.

    As the newly appointed Managing Director of the National Investment Bank (NIB) and the governing New Patriotic Party (NPP) parliamentary candidate for Manso Nkwanta in the Ashanti Region, Fokuo emphasized his ability to balance responsibilities.

    Having previously served as the Deputy MD of the bank, he expressed confidence in his time management skills and affirmed that neither role would hinder his performance in the other.

  • I can manage bank and political tasks without struggle – New NIB MD

    I can manage bank and political tasks without struggle – New NIB MD

    The recently appointed Managing Director of the National Investment Bank (NIB), Tweneboa Kodua Fokuo, has emphasized that his concurrent role as a Parliamentary Candidate will not impede his official responsibilities at the bank.

    Mr. Fokuo’s appointment has sparked controversy, particularly from the opposition National Democratic Congress (NDC), who question the Bank of Ghana’s decision to endorse a Parliamentary Candidate as the CEO of a financially struggling state bank during an election year.

    However, in an interview on Joy FM on Monday, Mr. Fokuo reiterated his commitment to fulfilling his duties at NIB.

    He affirmed that he has never allowed his political engagements to overshadow his obligations at the bank, except during his personal time.

    “I have no challenges in managing my time between ensuring the bank is run properly and also doing my duties at my leisure time as a P.C. There has not been a time that I have had a challenge in running these duties,” Mr. Fokuo opined.

  • Kodua Fokuo is qualified to head NIB – John Boadu

    Kodua Fokuo is qualified to head NIB – John Boadu

    Director-General of the State Interest and Governance Authority (SIGA), John Boadu, has dismissed the Minority’s concerns regarding the recent appointment of Tweneboah Kodua Fokuo as the Managing Director of the National Investment Bank (NIB), stating that they are unfounded.

    The Minority caucus had strongly opposed the appointment, citing Mr. Fokuo’s political background as the NPP Parliamentary Candidate for Manso Nkwanta in the Ashanti Region as a reason for their objection.

    The Vice President of IMANI Africa, Bright Simons, also raised concerns about the appointment, questioning the Bank of Ghana’s approval given Mr. Fokuo’s likely involvement in rigorous political campaigning.

    The Minority caucus argued that such appointments erode public trust in the government’s ability to manage national resources effectively.

    However, John Boadu countered these arguments, stating that Mr. Fokuo’s qualifications are sufficient to lead the bank effectively and prevent its collapse.

    As Mr. Fokuo possesses the necessary qualifications, John Boadu sees no issue with his appointment as Managing Director of NIB.

    “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.

    Mr. Boadu also pointed out that the arguments against Mr. Fokuo’s appointment were misplaced, citing examples of legislators who concurrently hold leadership positions in 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.

    Mr. Tweneboa Kodua Fokuo, formerly the Deputy Managing Director of the bank, has succeeded Samuel Sarpong as the Managing Director. His appointment became effective on Monday, May 13, 2024.

  • Tweneboah Kodua is not qualified to serve as NIB’s MD – Minority to govt

    Tweneboah Kodua is not qualified to serve as NIB’s MD – Minority to govt

    The Minority in Parliament has strongly objected to the naming of the NPP’s Parliamentary Candidate for Manso Nkwanta, Tweneboah Kodua Fokuo, as the new Managing Director of the National Investment Bank (NIB).

    In a press release endorsed by Dr. Kwabena Donkor, the Ranking Member on the Committee on Employment, Social Welfare, and State-Owned Enterprises, the minority MPs voiced their apprehensions regarding the politicization of state-owned enterprises (SOEs).

    They argue that such appointments erode public confidence in the government’s capacity to efficiently manage national assets.

    Branding it a politically motivated appointment, the NDC MPs assert that the bank requires a leadership team with formidable managerial expertise and a robust recovery strategy to resuscitate its current “life support” status.

    “To appoint a Parliamentary Candidate six months into an election beggars belief. The integrity and or the lack of it in this appointment is a clear sign that the Government and the Bank of Ghana have no desire to resuscitate the ailing Bank but are only interested in milking the dying cow.”

    “The ignoble thinking behind the appointment must be condemned by all well-meaning Ghanaians,” the statement read.

    These objections come following the announcement of Mr. Tweneboa Kodua Fokuo’s assumption of office as the Managing Director of the National Investment Bank (NIB), succeeding Samuel Sarpong.

    His appointment becomes effective from Monday, May 13, 2024.

    A memo circulated among staff members of the Bank clarified that Mr. Fokuo’s appointment was made by “the majority shareholder.”

    It further detailed that Philip Ofori-Asante has been nominated as Deputy Managing Director, following Mr. Fokuo’s appointment.

    However, the Minority in Parliament contends that the Bank of Ghana is mandated by Act 612 to approve all senior bank appointments in the Banking and Deposit-taking Sector.

    Consequently, the BoG holds a legal obligation to halt this appointment in its regulatory capacity, “assuming the President is misled by Advisors for obvious political considerations.”

    The Minority urged President Akuffo Addo to reconsider Mr. Fokuo’s appointment, urging him to prioritize the integrity and business sustainability of the National Investment Bank.

    “We demand the reversal of this appointment and a more transparent and impartial selection process that prioritises merit, competence and meritocracy over political affiliation,” they added.

  • National Investment Bank appoints Tweneboa Kodua Fokuo as Managing Director

    National Investment Bank appoints Tweneboa Kodua Fokuo as Managing Director

    The National Investment Bank (NIB) has appointed Tweneboa Kodua Fokuo as its new Managing Director, effective from Monday, May 13, 2024, succeeding Mr. Samuel Sarpong, who has led the bank since 2019.

    An internal memo to the bank’s staff revealed that Mr. Fokuo’s appointment was made by the majority shareholder, citing his extensive experience as a key factor in his selection to guide the bank towards a prosperous future.

    Philip Ofori-Asante has been appointed as the Deputy Managing Director.

    Under Mr. Fokuo’s leadership, the bank’s ongoing restructuring and transformation initiatives are set to continue.

    Tweneboa Kodua Fokuo is a seasoned banker with a comprehensive understanding of Risk Management across various sectors, including commercial, corporate, and investment banking, as well as country risk management.

    He began his banking career at Barclays Bank, Ghana in 2008, where he rose through the ranks, ultimately serving as Assistant Vice President.

    As Barclays Ghana’s Country Risk Champion, he collaborated with the Group’s Country Risk Teams in London and Johannesburg.

    In January 2016, he joined First National Bank Ghana Ltd, a subsidiary of FirstRand Bank of South Africa, as the Head of Credit Risk.

  • NPP’s PC for Manso Nkwanta, Tweneboa Kodua, appointed NIB Managing Director

    NPP’s PC for Manso Nkwanta, Tweneboa Kodua, appointed NIB Managing Director

    Mr. Tweneboa Kodua Fokuo, the New Patriotic Party’s Parliamentary candidate for Manso Nkwanta, has been named the Managing Director of the National Investment Bank (NIB), starting Monday, May 13, 2024.

    He succeeds Mr. Samuel Sarpong, who has been at the helm of the NIB since 2019.

    In a memo addressed to the bank’s staff, it was stated that Mr. Fokuo was appointed by “the majority shareholder.”

    “In addition, Mr. Philip Ofori-Asante has been nominated as Deputy Managing Director, following in Mr. Fokuo’s footsteps. Mr. Ofori-Asante brings considerable banking expertise, and we look forward to introducing him to the team at the appropriate time.

    “Rest assured, the restructuring and transformation efforts we’ve initiated will persist under Mr. Fokuo’s capable leadership. With the invaluable guidance of the Board and Mr. Fokuo’s vision, working closely with Management, we anticipate a seamless transition and ongoing progress.”

    Profile

    Mr. Tweneboa Kodua Fokuo is a seasoned banker with extensive experience in risk management across commercial, corporate, and investment banking, as well as country risk management.

    His banking career began at Barclays Bank Ghana in 2008, where he held various roles in the Risk Management department, eventually rising to the position of Assistant Vice President. During his time at Barclays, he also served as the Country Risk Champion for Barclays Ghana, liaising with the Group’s Country Risk Teams in London and Johannesburg.

    In January 2016, Mr. Fokuo joined First National Bank Ghana Ltd, a subsidiary of FirstRand Bank of South Africa, as Head of Credit Risk.

    Mr. Fokuo holds a BSc. Degree in Natural Resources Management from the Kwame Nkrumah University of Science and Technology (KNUST), an MBA in Finance from the University of Wales, UK, and an Advanced Commercial Credit Risk Certificate from the IFS School of Finance, UK.

  • I was stripped naked by NIB officials – ACP Agordzo

    I was stripped naked by NIB officials – ACP Agordzo

    Former Assistant Commissioner of Police (ACP) Benjamin Agordzo, recently acquitted and discharged over allegations of involvement in a coup plot, has recounted further striking details of his detention by the National Investigations Bureau (NIB).

    Agordzo disclosed that his human rights were violated when he was stripped naked on the night of his arrest.

    Additionally, he shared that during his five-day detention in NIB custody, he refused to eat any food provided to him because he did not trust the authorities.

    “I had to take off everything that I was wearing. They gave us some boxer shorts which were just dumped somewhere. I’m wondering whether they were even washed. I will say that the officers who handled me did their best.

    “But that’s how they ought to act, and therefore they had to strip me and ensure that they collected everything from me. I was stripped naked and was not wearing anything. That night, my human rights were violated in several respects. You cannot treat me in that manner and just give me anything to wear,” he recounted in an interview on Accra-based Citi TV.

    Despite enduring inhumane treatment, the former police officer remarked that he managed to sleep well during his time in the NIB police cells. He attributed this to his confidence in his innocence regarding the allegations leveled against him.

    “I slept very well at NIB, I slept with a very good conscience. I knew I hadn’t done anything wrong and began to plan what to do next. My only worry was my family. I wasn’t comfortable, but I had a good conscience,” he stated.

    However, he was concerned that the NIB officers did not visit his home to conduct any search, considering the severity of the accusations against him.

    “You have arrested somebody who is alleged to have abetted the highest crime of the land, accused me of paying money to support an alleged coup. The worst-case scenario is you should go to my house, do a few checks, even to the bank, check my accounts, even to the extent that you could even freeze my accounts. They never did any of those things,” he said.

    Mr. Agordzo and nine others, including the late CEO of Citadel Hospital, Dr. Mac Palm, were charged in 2021 with conspiracy to commit high treason and high treason.

    However, on January 24, an Accra High Court acquitted Mr. Agordzo and two others, Colonel Gameli and junior military officer Corporal Seidu Abubakar.

    The remaining six, including three soldiers, were found guilty of conspiracy to commit high treason and high treason. They have been sentenced to death by hanging.

    Those convicted include Donya Kafui, also known as Ezor (a blacksmith), Bright Alan Debrah Ofosu (a fleet manager), and Johannes Zikpi (a civilian employee of the Ghana Armed Forces).

  • Retired ACP Benjamin Agordzo explains appearance in Police uniform during coup plot case

    Retired ACP Benjamin Agordzo explains appearance in Police uniform during coup plot case

    Retired Assistant Commissioner of Police (ACP) Benjamin Agordzo, recently acquitted and discharged in a high-profile coup plot case, has provided clarification regarding his appearance in police uniform during court proceedings, stating that it was due to circumstances beyond his control.

    Agordzo’s decision to appear in court wearing police uniform sparked criticism from many Ghanaians, who accused him of disrespecting the Ghana Police Service. However, in an interview on Tuesday, February 7, 2024, the retired police officer revealed that his attire was a result of the treatment he received while in custody of the National Intelligence Bureau (NIB) (formerly BNI).

    According to Agordzo, he was directed by the Inspector General of Police (IGP), Dr. George Akuffo Dampare, to report to the NIB while he was in his police uniform. Upon arrival, he was stripped of his uniform by NIB officers who then detained him. When informed of his court appearance, he was provided only with the same police uniform to wear.

    Recalling the events, Agordzo explained, “They (the BNI officers) actually stripped the police uniform together with the cap and everything and then put me in custody… On Wednesday morning, they came and told me that we’re going to court, so I should prepare. In their full glare, I prepared. There were no other clothes to wear. The uniform that I was wearing and brought in was the only thing available, so I wore it.”

    Agordzo emphasized that he meant no disrespect to the police and suggested that the public’s criticism stemmed from misinformation. He attributed the situation to the unprofessional conduct of the NIB officers involved in his detainment, suggesting they may have acted hastily or without proper consideration.

    “It was the unprofessional conduct of the BNI or whoever was in charge. Maybe they didn’t know what they were doing. Maybe they were so fascinated by the fact that they had gotten me, and therefore they didn’t think through it before sending me to court,” Agordzo stated.

    The explanation provided by Agordzo sheds light on the circumstances surrounding his appearance in police uniform and underscores the complexities of his arrest and detention amidst the coup plot case.

  • OSP has handed Cecilia Dapaah’s docket to us – EOCO Boss

    OSP has handed Cecilia Dapaah’s docket to us – EOCO Boss

    The Executive Director of the Economic and Organised Crime Office (EOCO), Maame Yaa Tiwaa Addo-Danquah, has confirmed the receipt of the docket pertaining to the alleged money laundering case involving former Sanitation Minister, Cecilia Dapaah.

    While acknowledging that the Office of the Special Prosecutor(OSP) has officially submitted the docket,Madam Addo-Danquah stated that she is currently in the process of reviewing it.

    In an interview with 3News she stated that “I have that, and we are now reviewing. At the appropriate time, we will speak about it. I am not well-briefed about the docket, so I don’t want to make any comment on it until we review it. The most important thing is that he has handed over; I don’t have anything more to add”.

    When questioned about the contract awarded by the Ghana Revenue Authority to Strategic Mobilization Limited (SML), Addo-Danquah emphasized that she refrains from discussing matters she is not well-briefed on.

    Recalling events from January 25, the Office of the Special Prosecutor (OSP) transferred the Cecilia Dapaah case to EOCO, with Special Prosecutor Mr. Kissi Agyebeng highlighting the focus on money laundering falling within EOCO’s mandate.

    Approximately 11 months ago, the OSP initiated an investigation into then Sanitation Minister Cecilia Abena Dapaah after reports of substantial sums being stolen from her residence by domestic staff. Cash sums ranging from $590,000 to 2.7 million cedis were discovered at various residences linked to Dapaah, leading to the freezing of her bank accounts.

    Despite an unsuccessful attempt to secure court approval, the OSP retained control of the funds and sought court confirmation. However, on January 25, the OSP announced the discontinuation of the case, citing extensive collaborative investigations within and outside Ghana.

    “The Office has determined that the crime borders largely on money laundering, which falls within the mandate of EOCO,” he said.

  • “They want to know which people are behind it” – The New Force accuses NIB of harassing spokesperson in custody

    “They want to know which people are behind it” – The New Force accuses NIB of harassing spokesperson in custody

    The New Force, a political entity in Ghana, has raised alarms over the reported arrest and ongoing detention of Ms. Shalimar Abbiusi, one of its spokespersons.

    Abbiusi, responsible for diaspora and diplomatic engagements, was reportedly summoned for discussions on Monday, December 4, 2023, and has remained in custody for the past four days under the watch of the National Investigations Bureau (NIB), formerly known as the BNI.

    During this period, security officials allegedly questioned Abbiusi extensively about The New Force, seeking information about its leadership and potential presidential aspirations.

    The New Force has expressed deep concern over the circumstances surrounding her detention, citing multiple human rights violations.

    Abbiusi has allegedly been denied access to legal representation, subjected to an unlawful search of her premises, and held beyond the legal 48-hour limit without formal charges. The security authorities reportedly broke into her apartment without a warrant, conducting a search that yielded no incriminating evidence.

    While the authorities claim to be investigating the origins of The New Force, The New Force insists that being a political organization is not a criminal offense. The arrest of Ms. Abbiusi has sparked concerns about potential abuses of power, persecution of perceived political opponents, and human rights violations.

    Despite holding a residence permit issued by the Ghana Immigration Service over three years ago, authorities have told a District Court that they have temporarily charged Abbiusi with an offense, alleging that one of the submitted documents could not be verified. They are seeking her continued custody for further investigations into The New Force.

    The unfolding situation raises questions about the legitimacy of the charges against Abbiusi, the treatment of political figures in Ghana, and the potential erosion of human rights in the name of security investigations. The New Force vows to closely monitor and challenge what it sees as an unjust detention.

  • Government’s move to recapitalize NIB long overdue – John Gatsi

    Government’s move to recapitalize NIB long overdue – John Gatsi

    Prof John Gatsi, the Dean of the University of Cape Coast Business School, praised the government for putting GH¢4 million into National Investment Bank to help it grow.

    He asked the finance minister to help the bank because it has been important in funding projects in the country.

    “For a while, people have been saying that the Minister should use his position to help NIB get more money. ” NIB has been giving money to help projects in the country like farming, rubber plantations, and construction. They want to be a bank that helps the country to grow.

    “This is what we expected for a long time. ” For about four or five years, no one knew why the government ignored NIB.

    Prof Gatsi said NIB has been in trouble for a while, so the government needs to make sure it gives the bank some money.

    He also said that if the bank fails, the government will be responsible.

    “The bank has been having some problems. If the government gives it more money, that would be good news. ADB wanted to join with the bank, but people were very upset about it. ”

    “Now that the Minister said they will give the bank money in the budget, all I can say is they need to pay attention and give the bank money. If they don’t, people will blame the government for the bank failing. ” He

    The finance minister announced the 2024 budget in Parliament on November 15, 2023. They said that the Financial Sector Strengthening Strategy (FSSS) was created to help lessen the effects of the government debt on the financial sector. It aims to solve old problems from the financial sector clean-up that happened from 2017 to 2019.

    He said the Fund has two parts. One part has $250 million from the World Bank for banks and financial institutions. The other part has $500 million from the Ghanaian government to help state-owned financial institutions. It could also help other Ghanaian-controlled financial institutions to become financially stronger after the Debt and Distressed Entities Programme (DDEP).

    Ken Ofori also said, “Mr. n The speaker said that the 2024 Budget includes a plan to give GH¢4 billion to help the National Investment Bank (NIB), struggling SDIs, and other old problems in the financial system.

    Source: The Independent Ghana

  • NIB remains solvent and not for sale – Majority Caucus

    NIB remains solvent and not for sale – Majority Caucus

    The majority caucus in parliament has emphatically rejected the minority’s assertion that the National Investment Bank (NIB) is on the verge of bankruptcy and up for sale.

    According to Frank Annoh-Dompreh, the Majority Chief Whip, the bank is currently in a stronger financial position than it was during the previous National Democratic Congress government’s tenure.

    During a press conference held by the minority on September 28, they claimed that the government’s failure to repay loans it had guaranteed for contractors had pushed the bank into financial distress, despite the contractors having raised certificates for their development projects.

    Mr. Annoh-Dompreh, Member of Parliament for Nsawam/Adoagyiri, contended that the minority’s “baseless” allegations only served to undermine public confidence not just in the bank but in the entire financial sector.

    “It is not true that the treasury of the bank is gone bankrupt. All documentations prove otherwise.

    “Yes, NIB needs recapitalisa­tion but the treasury of NIB is not bankrupt. The treasury of the NIB is not being run like it used to be under their reign where over GH¢500 million was given to the non-banking sector against the code of ethics of the banking sector,” he said.

    Mr. Annoh-Dompreh, speaking on behalf of the majority, expressed their readiness to collaborate with the minority to advocate for government support in recapitalizing the bank and fulfilling its primary role of supporting industry.

    Rather than undermining the bank, the chief whip commended the current management for successfully rejuvenating the bank’s prospects. He noted that the NIB, as inherited from the previous government, had a high concentration of loans in the construction sector, with a substantial portion of its treasury allocated to construction projects at the expense of other sectors.

    The bank also grappled with weak information technology infrastructure, a high cost of service contracts, and a daily financial requirement of GH¢160 million from the Bank of Ghana for operations.

    In 2019, a government guarantee resulted in a recapitalization injection of GH¢857 million from the Ghana Amalgamated Trust. With effective management, the bank has made remarkable progress, leading to its improved financial standing.

    Due to the sound management exhibited by the current leadership, the majority chief whip highlighted that 60 policies have been implemented to cater to customers from all walks of life.

    “I don’t know if any bank in our country has become more relevant and become more inno­vative than the NIB.

    “Government has put in some good efforts in recapitalising the bank but it still stands to reason that because of the challenges in the financial sector, the bank needs some recapitalisation to remain relevant (and that is what we all should be championing as members of parliament)”, he stated.

    In his view, anything contrary to that would be unnecessary politicisation of the bank for parochial partisan interest as the 2024 general elections beckon.

    “Our colleagues should stop the politicisation of all mat­ters, especially if they relate to the financial sector. It is most unfortunate. I think they have to be more patriotic in matters of this nature which can affect the well-being of the nation.”

  • Merging ADB and NIB economically not prudent – Laud Mensah condemns

    Merging ADB and NIB economically not prudent – Laud Mensah condemns

    Professor Laud Mensah, who heads the Business School at the University of Ghana, firmly stated that combining ADB with NIB would lack economic justification.

    In an interview with Korku Lumor on Class 91.3 FM, he stated that “you cannot put two big banks together,” adding, “Prudent economic management will not allow merging two state-oriented banks.”

    Professor Mensah pointed out that any decision made at the executive level is likely to disrupt the bank’s financial stability. He stressed that for this initiative to proceed, the finance minister, who supports it, should present a document outlining the economic benefits expected from ADB acquiring NIB.

    Furthermore, he recommended that seeking external investments would be the most prudent course for the economy.

    Professor Mensah underlined that the merger of ADB and NIB would undermine their financial health.

    Given NIB’s financial constraints, he insisted that an external investor should infuse capital into the bank.