Head of the business school at the University of Ghana, Professor Lord Mensah, has indicated that it is not economically sensible for the government to combine ADB and NIB financial institutions.
He believes that these state-owned businesses are important banks that can continue to run independently.
Professor Mensah discussed the ADB-NIB merger on ClassFM and stated, “You cannot put two big banks together…Prudent economic management will not allow merging two state-oriented banks.”
The economist expressed concerns that combining these entities could potentially disrupt the balance sheet of NIB.
He suggested that an external investor is crucial to infuse capital into the financially challenged NIB for its revitalization.
In the meantime, the Minority Leader in Parliament cautioned that the government’s move to merge the National Investment Bank with the Agricultural Development Bank might result in approximately 800 job losses.
Isaac Adongo, Member of Parliament for Bolgatanga Central, characterized this decision as unwise, hinting at a government strategy to assume full control of the bank.
He further argued that alternative measures could enhance the bank’s sustainability without transferring it to ADB.
The Minority in Parliament is calling for the immediate removal of the Managing Director of the state-owned National Investment Bank (NIB) in order to rescue the financially troubled institution.
NIB is presently undergoing a strategic review with the intention of selling its majority shares to the Agricultural Development Bank (ADB), effectively leading to a takeover. The government is reported to have concluded talks and is awaiting approval from the Finance Ministry to finalize the takeover process.
Isaac Adongo, the Ranking Member of Parliament’s Finance Committee, contends that the current Managing Director of NIB, Samuel Sarpong, has exceeded the mandatory retirement age and should vacate the position to allow for a more dynamic individual to address the bank’s financial challenges.
During a press briefing in Parliament on October 9, Isaac Adongo highlighted that despite its precarious financial state, NIB has been involved in questionable transactions.
“I am surprised that a sick bank requiring around-the-clock 24-hour attention by an energetic young man is now being managed by an over-aged man…I call on the President to in the interest of NIB and national interest to sack Samuel Sarpong to go and continue his retirement and get a very young, energetic mature person who has the energy and drive to turnaround the NIB,” Adongo said.
“NIB has renewed its banking software for seven years at the expense of the banks’ resources…so to now let somebody else acquire it means that the bank will run two banking software’s while crediting and debiting in two separate banks? This is a joke!” the Bolgatanga Central lawmaker lamented.
The Minority MP further cited verifiable documents in his possession over what he termed as ‘sleazy deals’ with regards to NIB and its current head office.
“We are aware of the sleazy deals with regards to NIB and its current head office and some developments that should have happened at the airport residential area close to the National Service Secretariat and I am in possession of very verifiable documents to that effect and we will pursue them at some point in time”
National Investment Bank (NIB) employees have outlined a series of challenges that have adversely affected the bank in recent years, leading to its current precarious state.
In an open letter, these employees have appealed to the government for assistance in recapitalizing the bank to prevent its potential collapse.
Among the issues raised, the workers mentioned various internal problems, including the impact of the Domestic Debt Exchange Programme, contributing to the bank’s current predicament.
They noted that the Bank of Ghana’s embargo on granting of loans for the past six (6) years is “practically depriving the bank of huge interest income and technically out of trade and business.”
“Secondly, a chunk of non-performing loans totaling over GHS2.1 billion granted to companies and individuals to execute government of Ghana projects. These companies and individuals have executed the projects, raised Interim Payment Certificates, and are yet to be paid by the government.
“Thirdly, the Bank’s investments in Government of Ghana bonds of GHS857,000.00 held up and affected by the Domestic Debt Exchange Program (DDEP) is also not helping matters,” parts of the statement read.
The staff further noted that despite these challenges, the Bank has performed “excellently well by increasing its deposit position from GHS3.2 billion in August 2022 to GHS5.1 billion in August 2023.”
“Deposit increases month on month and the target of a billion-year ending December 2023 is highly achievable. The goodwill from our loyal customers has been amazing as the bank opens over 2,000 new accounts every month. The bank’s nationwide customer cash collection service is second to none.
“Internal management staffing restructuring has been successful. The staff strength saw a reduction from 1700 in 2021 to a little over 900 in July 2023. There is still the edge for further downsizing to ensure efficiency and increase savings,” the statement said.
Workers are also calling with the government to reconsider its decision to transfer NIB operations to the Agricultural Development Department.
The National Investment Bank (NIB) has issued a response to allegations suggesting that the bank’s managing director managed its operations remotely via Zoom for a period of one year.
Isaac Adongo, the Member of Parliament for Bolgatanga Central, previously asserted in an interview that the financial challenges faced by the bank could be attributed in part to the absence of the managing director.
In a statement released by the bank to counter these claims, NIB asserted that the allegations lacked any factual basis or substantial evidence. Furthermore, the bank contended that these allegations were unfairly skewed to tarnish the reputation of NIB.
Read the full statement below
Our attention has been drawn to certain statements made in the media on 28 September 2023 attributed to the Honourable Isaac Adongo, MP for Bolgatanga Central, in which a clear attempt was made to malign the Bank’s Managing Director, and by extension, discredit the integrity of the institution he presides over.
Adongo in his interview with Multimedia stated that the Bank’s Managing Director was for one year managing the Bank via Zoom. The Board and Management of NIB take extreme exception to the claims made in the said statements, particularly since it had no substance or factual basis and appeared skewed just to bring the hard-won image of the Bank into disrepute” the NIB statement read.
You may be reminded that NIB is a reputable financial institution and the pride of the nation. Transparency and accountability have been the cornerstones of our Bank’s governance structure and its Management remains committed to upholding the highest ethical standards in all our operations any misinformation, such as this, has a huge implication on the Bank.
To set the records straight, we would like to point out that the Managing Director, the subject of the unsavoury commentary, is entitled to annual vacation or leave days that are set by policy for all employees of the Bank and he has been taking same whenever the need arises subject to the approval of the Board” the NIB press statement further read.
Whenever it became necessary to travel out of the country, due approval had always been sought from the Board and is reported to the Bank of Ghana, the regulator, as required.
NIB is profoundly satisfied with the exceptional dedication and hard work exhibited by our management team. Their unwavering commitment to our institution’s stability and success is truly commendable and reassuring.
It is our firm belief that necessary as it may be for progress and the common good of the country, public discourse must always be grounded in truth and evidence, and it is essential that public figures maintain the highest standards of honesty and integrity when making statements that may tend to influence public opinion” the bank pointed.
Misleading or false statements erode trust and undermine the principles of a transparent and accountable society. In conclusion, we entreat the general public to critically evaluate information, seek out reliable sources, and engage in informed discussions on important matters.
In this era of misinformation, it is our collective responsibility to ensure that truth prevails over falsehoods, and that our society remains rooted in facts and evidence” the NIB stated in the concluding part of their press release.
In an open letter, all National Investment Bank employees pleaded with the government to help recapitalize the bank and save it from potential collapse.
Among other things, the employees identified a variety of internal issues that contributed to the bank’s current situation.
They noted that the Bank of Ghana’s embargo on granting of loans for the past six (6) years is “practically depriving the bank of huge interest income and technically out of trade and business.”
“Secondly, a chunk of non-performing loans totaling over GHS2.1 billion granted to companies and individuals to execute government of Ghana projects. These companies and individuals have executed the projects, raised Interim Payment Certificates, and are yet to be paid by the government.
“Thirdly, the Bank’s investments in Government of Ghana bonds of GHS857,000.00 held up and affected by the Domestic Debt Exchange Program (DDEP) is also not helping matters,” parts of the statement read.
The staff further noted that despite these challenges, the Bank has performed “excellently well by increasing its deposit position from GHS3.2 billion in August 2022 to GHS5.1 billion in August 2023.”
“Deposit increases month on month and the target of a billion-year ending December 2023 is highly achievable. The goodwill from our loyal customers has been amazing as the bank opens over 2,000 new accounts every month. The bank’s nationwide customer cash collection service is second to none.
“Internal management staffing restructuring has been successful. The staff strength saw a reduction from 1700 in 2021 to a little over 900 in July 2023. There is still the edge for further downsizing to ensure efficiency and increase savings,” the statement said.
Nevertheless, it urges the government to infuse funds into the bank to prevent its collapse.
A banking consultant, has opposed the idea of restructuring the National Investment Bank (NIB). In his view, what the bank requires is increased liquidity, not restructuring.
The minority had previously suggested an alternative to transferring NIB’s operations to the Agricultural Development Bank (ADB), proposing a restructuring of NIB’s balance sheet. This would involve converting loans and outstanding debts into equity.
However, Atuahene argues that restructuring alone does not address the core issue, as it does not provide the bank with the necessary liquidity.
“NIB doesn’t need equity so the government cannot turn the unpaid loans into equity. NIB needs liquidity; it needs cash and is not about restructuring the financial position. If you convert the unpaid loans into equity, that’s not cash injection. NIB is cash-strapped. So, we need someone to bring in liquidity after clearing the bad debts so the bank can run,” he was quoted by citinewsroom.com.
Dr. Atuahene further stated that merging NIB with ADB is not the best option because the Agric Development Bank is currently unable to take on NIB.
“We should only make sure that there is a proper cash injection from all the loans so the bank can come back. Looking at the current position of NIB for a takeover, it is not ADB because ADB doesn’t have the strength,” he added.
The Minority in Parliament has claimed that the government’s decision to merge the National Investment Bank and the Agricultural Development Bank (ADB) will result in the loss of numerous jobs.
According to Isaac Adongo, Member of Parliament for Bolagatanga Central, the government’s decision is rash and a plan to seize full control of the bank.
He noted that, rather than handing over the bank to ADB, the government has alternative options for improving its viability.
“I want to tell you that the bank itself was not established by the Companies Act, it was established by a National Investment Bank Act 612, and that Act is very clear under Section 22 under liquidation proceedings that nobody can liquidate or take any action that will ultimately lead to the demise of NIB unless it comes back to parliament for parliament to pass a law giving direction as to how that process should be pursued.
“So, there’s clearly a legal mandate, and that legal mandate rests with the people who set up NIB and it is the parliament of Ghana. So, we don’t expect anything other than a poor regulation action by the Central Bank under Act 930 either to bring it under administration, to revoke the license, or to place it under receivership as provided because they have a license from the Bank of Ghana,” he said while addressing the press on September 28, 2023.
Adongo also claimed that the government is finding a way to acquire NIB and ADB through inappropriate means.
“But it’s quite clear that’s not the action the Bank of Ghana wants to take, it is not the action the government is interested in, the only action left now is to come under Act 612 and particularly under Section 22 of the Act.
“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,” he said.
The Managing Director of the National Investment Bank (NIB), Samuel Sarpong, has threatened legal action against JoyFM, a subsidiary of the Multimedia Group, as well as Member of Parliament for Bolgatanga Central, Isaac Adongo.
This comes in response to statements made by the MP during a radio interview on September 28, 2023, where he claimed that he had been remotely overseeing the management of NIB from Canada for more than a year.
A communication sent by lawyers representing the NIB boss, described the comment “misleading, malicious, scandalous, demeaning, and without any truth.”
The communication emphasized that these statements were made with the intention of advancing a misleading narrative that portrayed Sarpong as the cause of the financial challenges experienced by the bank.
“Our client says that on 28th of September, 2023 you were interviewed on Top Story; a radio broadcast program hosted by Evans Mensah of Joy FM to discuss a press conference you addressed earlier that day on the management of the National Investment Bank (NIB).
“Our client says during your appearance and interview on the radio show you stated the following words “We haven’t given NIB the kind of attention that it deserves given that it has been in crisis… the Managing Director sat in Canada and zoom-managed NIB for almost a year. How can we be serious with that
“… It is our reasoned opinion that your statements are misleading, malicious, scandalous, demeaning, and without any truth. The statements you made on Top Story, which was subsequently published on JoyOnline sought to promote the malicious narrative that our client was responsible for the financial troubles and mismanagement of the Bank. This narrative seeks to mean to the ordinary person, the general public, and all persons in our clients’ line of work that our client is irresponsible, incompetent, failed in his fiduciary duty to the bank and not a credible person to deal with.
“Our client instructs us to say that your statements are clearly untrue and the statements and subsequent publication on JoyOn1ine is an attempt to destroy his hard-earned reputation and to bring his image and record before the international world into disrepute,” it stated.
The legal representatives further conveyed that the dissemination of these remarks on MyJoyOnline has had adverse repercussions on Samuel Sarpong’s personal and professional standing, both domestically and internationally. Consequently, he is now seeking specific remedies from both the Multimedia Group and the Member of Parliament for Bolgatanga Central.
“It is our view, that your statements were made with the sole aim of tarnishing the image of our client without considering the damage it places on him in the international business and finance community.
“We have the instruction of our client to give you notice, which we hereby do, to apologise and retract the malicious, baseless, and destructive statements made about him on the Top Story radio broadcast show which was subsequently published on JoyOn1ine dated the 28th day of September 2023 within forty-eight hours (48) of receipt of this letter by undertaking the following:
“Issue a Statement of Retraction to our Client and the staff and management of the National Investment Bank.
“Cause an apology to be sent to our client and same published on the various platforms on which the defamatory matter was published.”
The letter, issued by Richmond Numbo Sakaa, the Managing Partner of S & S Legal, threatened legal action if the demands were not met.
“Be advised that our client intends to exercise his full rights under law, should you fail, refuse and/or neglect to act or perform as requested.”
The Minority Caucus of the National Democratic Congress (NDC) in Parliament has made a call on Thursday for the government to undertake a substantial overhaul of the reportedly struggling National Investment Bank (NIB) in order to prevent the possible dissolution of the bank.
During a press conference held at Parliament House, Mr. Isaac Adongo, who serves as the Ranking Member on Parliament’s Finance Committee, challenged the government’s contemplation of liquidating NIB.
He suggested that there might be undisclosed reasons driving the government’s decision.
Mr. Adongo pointed out that there is a viable alternative to address the bank’s challenges, as proposed by the NDC and the Minority.
They advocate for the government to restructure NIB’s financial position by converting all of NIB’s debts owed to the government into equity.
“The government should just restructure the balance sheet of NIB to swap all the NIB debts that it owes the government and give the government equity but the government says it doesn’t have money to capitalise the bank but it has given 500 million bonds to NIB and it has given 800 million debt to NIB the two will give you 1.2 billion…commit to say that is your commitment to recapitalisation so we issue shares for you,” Mr Adongo alleged.
The Minority Leader, Dr Cassiel Ato Baah Forson, told the press that the Caucus would only support the ratification of the $250 million World Bank facility for the financial stability fund if ailing state banks were given priority.
Member of Parliament representing BolgatangaCentral, Isaac Adongo, expressed deep concern over the National Investment Bank’s (NIB) financial crisis, attributing it to inadequate oversight.
He cited an instance where the bank’s Managing Director, Samuel Sarpong, was absent for more than a year, managing the bank remotely from Canada.
As the Deputy Ranking Member of the Finance Committee of Parliament, Adongo highlighted this situation as one of the issues contributing to the bank’s difficulties.
“We haven’t given NIB the kind of attention that it deserves given that it has been in crisis… the Managing Director sat in Canada and zoom-managed NIB for almost a year. How can we be serious about that?
“A bank that requires arm holding, proper nurturing, the Managing Director sat in Canada for one year and what he was doing was Zoom managing that bank. Even very good performing banks cannot be managed by Zoom for one year so clearly there are issues,” he said on JoyFm.
Earlier reports said that the government was planning to transfer NIB operations to the Agricultural Development Bank (ADB).
However, the minority has aggressively opposed the merger, alleging that it will result in job losses and other concerns.
According to Isaac Adongo, proceeding with the merger without the assent of parliament is unconstitutional.
“I want to tell you that the bank itself was not established by the Companies Act, it was established by a National Investment Bank Act 612, and that Act is very clear under Section 22 under liquidation proceedings that nobody can liquidate or take any action that will ultimately lead to the demise of NIB unless it comes back to parliament for parliament to pass a law giving direction as to how that process should be pursued.
“So, there’s clearly a legal mandate, and that legal mandate rests with the people who set up NIB and it is the parliament of Ghana. So, we don’t expect anything other than a poor regulation action by the Central Bank under Act 930 either to bring it under administration, to revoke the license, or to place it under receivership as provided because they have a license from the Bank of Ghana,” he said.
He explained further: “But it’s quite clear that’s not the action the Bank of Ghana wants to take, it is not the action the government is interested in, the only action left now is to come under Act 612 and particularly under Section 22 of the Act.”
Deputy Ranking Member of the Finance Committee of Parliament, Isaac Adongo, has raised concerns that the National Investment Bank (NIB) has not received the level of attention it requires, resulting in its ongoing financial crisis.
During an appearance on the Top Story program on Joy FM, the Member of Parliament for Bolga Central disclosed that the Managing Director of the bank, Samuel Sarpong, has been remotely managing the troubled institution for nearly a year, all the way from Canada.
Mr Adongo attributed this situation to a lack of effective corporate governance, which he believes has contributed to the bank’s current predicament.
“We haven’t given NIB the kind of attention that it deserves given that it has been in crisis… the Managing Director sat in Canada and zoom-managed NIB for almost a year. How can we be serious with that?
“A bank that requires arm holding, proper nurturing, the Managing Director sat in Canada for one year and what he was doing was zoom managing that bank. Even very good performing banks cannot be managed by zoom for one year so clearly there are issues,” he said on JoyFM’s Top Story.
“I want to tell you that the bank itself was not established by the Companies Act, it was established by a National Investment Bank Act 612, and that Act is very clear under Section 22 under liquidation proceedings that nobody can liquidate or take any action that will ultimately lead to the demise of NIB unless it comes back to parliament for parliament to pass a law giving direction as to how that process should be pursued.
“So, there’s clearly a legal mandate and that legal mandate rests with the people who set up NIB and it is the parliament of Ghana. So, we don’t expect anything other than a poor regulation action by the Central Bank under Act 930 either to bring it under administration, to revoke the license or to place it under receivership as provided because they have a license of the bank of Ghana.
“But it’s quite clear that’s not the action the Bank of Ghana wants to take, it is not the action the government is interested in, the only action left now is to come under Act 612 and particularly under Section 22 of the Act,” he explained.
Previously, the Member of Parliament (MP) had asserted that the merger proposal served as a camouflage for the eventual sale of both banks, post-merger, to individuals with close ties to the government.
This, according to him, was perceived as a strategy employed in the context of state capture efforts.
“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,” he said.
Previously, the Member of Parliament (MP) had asserted that the merger proposal served as a camouflage for the eventual sale of both banks, post-merger, to individuals with close ties to the government. This, according to him, was perceived as a strategy employed in the context of state capture efforts.
“I don’t think merging NIB and ADB is solving any problem, it is not a solution at all,” he told Evans Mensah.
He pointed out that the National Investment Bank (NIB) has not only been grappling with fiscal challenges but has also faced corporate governance issues, with the roots of the current situation dating back to 2016.
Additionally, he mentioned that the Agricultural Development Bank (ADB) is experiencing similar challenges, as indicated in a 2022 report, and lacks the capacity to absorb the National Investment Bank (NIB). Furthermore, he noted that even if the government were to provide financial support to ADB, it might not be sufficient to cover NIB’s outstanding debts.
He suggested that both banks be recapitalised, explaining that “you don’t bring a weak institution to buy a bad institution. You have what we call a good bank buying a bad bank, there is a theory there but the two of them are not good for anything.”
The Parliamentary Minority has asked the government to undertake extensive reform of the struggling NIB in order to avoid the bank’s imminent collapse.
According to recent sources, ADB may acquire NIB, which now has liabilities in excess of GH2 billion.
During an interview on Citi FM, Isaac Adongo, the Ranking Member of Parliament’s Finance Committee, accused the government of having an ulterior motive in liquidating NIB.
“It doesn’t make sense, introducing these complications in a very simple, obvious, and common-sense finance decision can only be for an ulterior motive. We will use Parliament, we will use the court of Ghana, we will use every legitimate means to protect the livelihoods of our people,” Adongo asserted.
The Bolgatanga Central MP expressed concern about the joblessness that would result if the government was successful in its liquidation procedure.
“The government is playing a very funny game now. They said they want ADB to buy NIB. If you are going to buy NIB, it means it doesn’t have money, somebody has to give ADB the money. ADB doesn’t meet the minimal adequacy requirement. ADB itself is suffering from diabetes, now you want to combine asthma with it and produce what kind of human being? You don’t add a bad bank to a bad bank, it’s never done. A good bank can buy a bad bank and use its strength to improve that bank. But the conversation is that ADB itself must be treated for its own individual illness.”
“And NIB must be created for its own individual illness. If you do that, they will be so healthy. They won’t even be interested in coming together. In a country that is struggling to even retain NABCo jobs, you want to lay people off from sustainable jobs? Hell no. In the end, we will be worse off. We saw what happened the last time,” he said.
The Minority in Parliament has opposed the government’s proposal to either dissolve the National Investment Bank (NIB) or amalgamate it with the Agricultural Development Bank (ADB).
In recent years, the government has been actively pursuing the merger of ADB and NIB to establish the National Development Bank, citing ongoing challenges faced by both institutions.
During a press briefing in Parliament, Isaac Adongo, the Minority Spokesperson on Finance, asserted that this initiative is, in fact, a diversionary tactic aimed at ultimately selling off the merged banks to individuals with close government ties, as part of what he characterizes as efforts to exert undue influence over state assets.
“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,” he said on Thursday, September 28.
The Minority has called on the government to settle the outstanding debt owed to the bank. Additionally, they have recommended a set of measures aimed at ensuring the bank’s financial viability.
“Government should just restructure the balance sheet of NIB to swap all the NIB debt that it owes to government and give government equity. Government says it doesn’t have money to capitalize the bank, but it has given 500 million debt to NIB, it has given 800 million debt… The two will give you 1.3 billion. It is your money. You owe the bank. The money is already sitting there. Commit to saying that this is my contributing towards capitalisation so that we issue shares to you and move the money to equity,” he added.
Isaac Adongo emphasized that the potential collapse of NIB and its subsequent acquisition by ADB would result in the loss of approximately 800 jobs.
He also pointed out that contractors who were engaged by NIB for government projects are still awaiting payment from the Finance Ministry.
“As a result of that, NIB has incurred 1 billion on its load books, resulting from Ken Ofori-Atta’s refusal to pay, now you say NIB is week,” he said.
A collaborative effort between the Ghana Police Service and the National Intelligence Bureau (NIB) in Assin Fosu successfully intercepted an articulated truck transporting 250 bags of government-subsidized fertilizer meant for farmers.
The fertilizers, including varieties like Cocoa Ahuoden, Cocoa Aduane, and Cocoa Nti, were allegedly being smuggled to Ivory Coast.
The operation led to the arrest of three individuals: Seth Yeboah, the driver; Smaila Ahor, a houseboy; and Iliasu Abubakar, a driver with the Ghana National Ambulance Service in Assin North. The suspects were apprehended on Sunday in Assin Juaso and transferred to the NIB head office in Accra for further investigation.
Nana Kwasi Fori, the Central Regional Chief Farmer, revealed that suspicions were raised about the suspects’ activities, prompting the NIB officials to monitor their movements. Upon discovering the truck stuck with the subsidized fertilizer, authorities intervened.
It was disclosed that Iliasu Abubakar, the ambulance driver, had enlisted the help of the other two individuals in this illegal operation.
Nana Ofori cautioned all those involved in such illicit activities, including farmers cooperating with wrongdoers, to cease their actions or face legal consequences.
He encouraged the public to report any suspicions to the Ghana Police Service for appropriate action.
Assistant Commissioner of Police (ACP), Dr. Benjamin Kwasi Agordzo, asserts that instead of charging him with treason, the National Intelligence Bureau (NIB) should be acknowledging his actions.
He claims that his financial contribution to support Take Action Ghana (TAG) was directed towards medical outreach programs, despite being accused of aiding an alleged plot to overthrow the government.
During his testimony at the ongoing high treason trial involving nine individuals, ACP Agordzo stated that he and others donated funds for TAG’s medical outreach initiatives. He questioned the selective nature of his arrest when other personalities involved were not apprehended.
He contested allegations that he drafted a speech for a post-coup scenario, stating that his advice regarding peaceful demonstrations and securing police permits was unrelated to any criminal activity.
With nearly 36 years of experience in the Ghana Police Service, ACP Agordzo served as Director of Operations and Director of Transformation from 2015 to 2018. He engaged with think tanks, research organizations, and media outlets on topics including election security and political vigilantes.
He recounted receiving a WhatsApp message from the now-deceased Dr. Frederick Mac Palm on November 8, 2018, during his United Nations Pre-Deployment Training Course in Uganda. The message referred to his lecture at the Institute of Democratic Governance and discussed Take Action Ghana (TAG), an NGO headed by Mac Palm. The message inquired about ACP Agordzo’s interest in joining TAG.
The term “big bang” was brought up in their conversation, which ACP Agordzo explained was misunderstood and taken out of context by the prosecution. He clarified that he used the term to refer to forming various sub-groups within TAG, not as a reference to any coup attempt.
In light of these circumstances, ACP Agordzo criticized the NIB for erroneously interpreting his words and attributing them to an alleged coup attempt, when they were actually related to benign organizational activities.
The National Intelligence Bureau (NIB) has allegedly arrested the personal aide to Bugri Naabu, the former Northern Regional Chairman of the New Patriotic Party (NPP) over the leaked tape hovering around the removal of Inspector-General of Police (IGP), Dr George Akuffo Dampare.
This information per reports, was revealed by Mr. Naabu. Per reports, he discovered this information after realising their absence at the workplace upon his arrival at the office.
Per reports, Mr Naabu did not disclose the source of his information.
“I learnt they came with a white car and police people men well-armed pushed them in and took them away,” he is quoted by MyJoyOnline.com to have said.
The NPP stalwart said “I don’t know their whereabouts but I am getting information that they are in BNI (now NIB), Kawukudi Junction.”
Bugri Naabu is said to have expressed interest in visiting the NIB office along with his lawyers to ascertain the reason behind the arrest.
“So I am appealing to you the journalists, and I am getting some lawyers also to join them to find out what is happening,” he added.
The arrest, he believes, is linked to a leaked audio in which voices are heard conspiring against the Inspector General of Police (IGP), Dr. George Akuffo Dampare.
The situation remains under investigation, and further details are yet to emerge.
About ninety (90) Ghanaians who were deported from Dubai have arrived in Ghana.
The deportees were flown in two batches by Emirates and Ethiopian Airlines and proceeded through the Ghana Immigration Service’s requisite procedures at Kotoka International Airport before being handed over to the National Investigation Bureau (NIB) for further action.
MyNewsGh.com confirmed that most of them through fake recruitment agents travelled to Dubai illegally while others had overstayed their visas.
It is gathered that over 431 such persons are currently in Dubai with a number of them said to be in detention after being promised lucrative jobs by agents who smuggled them into the country only to be faced with a different reality.
Sources at the Ghana Immigration Service revealed to this portal that more deportees are expected in the coming days as the number that has so far arrived in the country is just a fraction of those expected.
It would be recalled that late last year, the Ministry of Foreign Affairs and Regional Integration (MFARI) said efforts were underway to evacuate some 431 Ghanaians who had been detained in Dubai, United Arab Emirates (UAE).
Comprising 341 males, 88 females and two children below the age of three, they were lured there by some agents who promised them jobs in Dubai and other cities in the UAE.
They have been detained at Al Tawadi Medical Centre and the Immigration Centre in Dubai, alongside an unspecified number of African migrants who have suffered the same fate.
A statement issued by the MFARI said the government was collaborating with the authorities of the UAE to bring the stranded nationals back home safely.
A truck carrying 275 bags of dried cocoa beans on its way to Togo has been intercepted at the Aflao Border by the National Intelligence Bureau’s (NIB) Aflao Division.
The accused, Francis Ewuah, the driver, andEbenezer Tetteh, the truck owner, both 35 years old, have been detained by police prison pending investigations.
Cocoa smuggling through unapproved routes is rampant along the Ghana-Togo frontiers due to the porous nature of the borders.
At about 7pm last Monday, the 13th of March, the Aflao Division of the National Intelligence Bureau, NIB had a tip-off that some persons were transporting cocoa beans from Osinase in the Eastern Region through Aflao to neighboring Togo.
Upon reaching the Aflao-Togo Border, the NIB intercepted the truck with registration number GX 8579 22.
After a search on the vehicle, two hundred and seventy five bags of cocoa beans were found and upon interrogation, the two suspects admitted their involvement in the crime.
The Director in Charge of Special Services of the Ghana COCOBOD, Charles Amenyaglo briefed the media on the operation.
Mr. Amenyaglo commended the Aflao NIB command for its vigilance which led to the arrest of the suspects.
He appealed to the public to be vigilant and help the security agencies to arrest people who smuggle cocoa into Togo through illegal routes.
The truck has since been impounded by the Police and the suspects remanded for further investigations after appearing in Court.
Police at Axim in the Evalue-Ajomoro-Gwira Municipality of the Western Region have arrested two suspects who allegedly contracted nine Ghanaians and a Chinese to embark on illegal mining activities on the Okoben Mining Company Limited gold concession at Dominase.
The two suspects are the Chief of Ablebo, Nana Miensah, and one Ramsey, who is alleged to be a National Security officer.
The names of these leaders who employed the ten suspected illegal ‘galamseyers’ including a Chinese national, came up after the ten were arrested by the joint team of police, National Investigations Bureau (NIB) and National Security personnel at Axim.
The illegal miners arrested at Dominase
The names of Ghanaians who are Paul Aboagye, Asamoah Gyan, John Yembiri, Richard Sackey, Boris Laari, Kofi Bakaro, Boti Kofana Kwame Owusu and the Chinese national, Wei Yunzhao.
Upon their arrest on Wednesday, January 18 on the Okoben Mining Company Limited’s gold concession at Dominase, the suspects mentioned the Chief of Ablebo, Nana Miensah, one Ramsey, a national security officer and one Kumah of Kedadwen, as those who brought them to the concession of the company.
Surprisingly, two of the Ghanaian suspected illegal miners told the Axim Police that they were National Security operatives.
Seven Ghanaians, including one Chinese, were arrested at Dominase for invading gold mining concession of the Ghanaian-owned mining company.
The nine male miners were among hundreds of Ghanaian illegal miners, including loads of foreign nationals who managed to invade the legally acquired gold mining concession of Okobeng Mining Company Limited in Dominase.
These unlicensed miners used heavy-mining equipment to engage in large-scale illegal mining activities on the concession of Okoben Mining Company Limited on the blind side of the state mining regulatory institutions in Ghana, including Minerals Commission and Environmental Protection Agency (EPA).
These illegal miners who did not even have environmental permits or licenses from the government of Ghana managed to engage in large-scale gold mining activities before the owner of the concession, Nana Okoben Amponsah, got hints and quickly reported the matter to Axim Divisional Police Command.
Following the official report Nana Okoben Amponsah lodged with the police, a joint team of police, National Investigations Bureau (NIB) and National Security personnel from Axim in the Evalue-Ajomoro-Gwira Municipality moved to the site to effect the arrest of total of nine illegal Ghanaian miners and a Chinese national.
The swoop, conducted by the Ghana Police Service in collaboration with the NIB and National Security, formed part of the government’s renewed fight against illegal mining.
Information available indicates that the illegal miners who invaded the concession were more than ten but some, predominantly the foreign nationals, managed to run way at the time the National Security officers stormed the site to affect the arrest.
The miners managed to indiscriminately mine gold in the concession without the knowledge of the owner of the company, Nana Okoben Amponsah.
They had also managed to clear large tracts of arable cocoa farmlands in a forest at site of the company and tributaries of the Ankobra River had also been heavily polluted by their activities.
The team confiscated some excavators and many other heavy mining items.
These illegal miners are currently in custody of the Axim Divisional Police Command assisting the police in their investigations.
The Chief Executive Officer of Okoben Mining Company Limited, Nana Okoben Amponsah expressed worry that despite the ban on illegal mining activities by the central government some “unpatriotic” Ghanaians are aiding foreigners to mine and destroy his gold mining concession at Dominase he lawfully and legally secured for the past 24 years ago.
“How is it possible that despite the number of caution and announcements, people still have the effrontery to be engaging in illegal mining? What worries me the most is how our own people find it convenient to collaborate with foreigners on this destruction spree?”
He said: “It is very sad. But I make a solemn promise that we will not rest. If it means going after them every day, than that it exactly what we will do.”
Bernard Oduro Takyi, a member of the Old Vandals Association of Commonwealth Hall, has requested that the Economic and Organized Crime Office (EOCO) and the National Investigation Bureau (NIB) look into the proprietors of hostels near the University of Ghana (UG).
His request follows a mandate on student housing from the University of Ghana, effective with the 2022–2023 academic year.
All continuing male students in Mensah Sarbah Hall and Commonwealth Hall would not go back to their dorms, according to the UG Registrar.
However, the instruction will not apply to current female students in Mensah Sarbah Hall or to students with special needs who are enrolled in both halls.
Speaking on the matter on the Morning Starr with Francis Abban, the former president of the Commonwealth, Mr. Oduro Takyi claimed that the university’s action is pressuring students to stay in the hostels nearby.
“90 percent of the hostels around the University of Ghana are owned by University Officials. I am calling on the National Investigation Bureau and Economic and Organized Crime Office to investigate and know those behind the hostels,” he added.
He further stated that “we are protecting the rights of the poor people,” adding that education is a right and not a privilege.
A couple accused of conspiracy to commit crimeand defrauding by false pretense has been granted bail by an Accra Circuit Court.
Madam Rita Agyapong, a 36-year-old trader, and Mr. Michael Narh, self-employed, are on GH¢150,000 bail each, with three sureties each.
The court ordered that one of the sureties should be justified with any property worth the bail sum.
They were jointly held for conspiracy to commit crime and defrauding by false pretence, an offence they pleaded not guilty to.
The court presided over by Mrs Evelyn Asamoah adjourned the case to December 22, 2022.
Assistant Superintendent of Police (ASP) Coleman Afesi, prosecuting, told the court that the complainant, Mr Emmanuel Agyapong, was the Operational Manager of the National Investment Bank (NIB), Dansoman branch, while the accused persons were a married couple, and both lived at Amomole, near Ablekuma.
The prosecutor said about seven months ago, Madam Agyapong persuaded her friend, Doris Boafo, to open an account at NIB and register for mobile banking for easy access to loans to which she agreed.
He said the couple requested her to bring the details to them to enable Mr. Narh to teach her how to operate it.
ASP Afesi said on June 21, 2022, William Asare (at large) deposited at the Ghana Commercial Bank (GBC) a cheque with a face value of GH¢72,530.00 into Boafo’s account to be processed as express.
He said the bank decided to reverse the transaction, but it did not go through due to system failure.
The prosecutor said on June 22, 2022, between 3 a.m. and 5:10 a.m. an amount of GH¢29,000.00 was withdrawn from the accounts through mobile banking applications, to wit, fast link, and web link, and disbursed on various mobile numbers.
He said within the same month, Boafo received an amount of GH¢5,000 in her mobile money account without knowing the source.
The prosecutor said she went to Madam Agyapong and discussed the matter with her.
ASP Afesi said Madam Agyapong later told Boafo that it was her husband who sent the money to her as a gift.
The prosecutor said on August 27, 2022, Boafo was arrested and cautioned to that effect and on November 15, 2022, investigations led to the arrest of the couple.
Africa Education Watch has criticised the West African Examination Council (WAEC) for the large number of supervisors from the Ghana Education Service (GES) employed in this year’s West Africa Senior School Certificate Examination (WASSCE).
The Education think tank, in its 2022 WASSCE Ghana Monitoring Report, revealed that out of the 776 supervisors, about 636, representing 82%, were GES staff.
This implies that 18%, or 140 supervisors, were external to WACE.
Africa Education Watch argues that major representation of GES staff “raises potential Conflict of Interest since the WASSCE pass rateis a Key Performance Indicator (KPI) for school heads and other GES directors.”
They further described the situation as “inadequate and ineffective external supervision” while indicating that centers that had GES supervisors recorded high cases of exam malpractice.
The Education Policy Research and Advocacy Organisation has therefore recommended that WAEC stops using GES staff as external supervisors.
“The GES cannot externally self-supervise their own in an exam in which many GES invigilators, supervisors, including school heads are at the centre of exam fraud for profit,” it explained.
They also want the Ghana Education Service to adopt a KPI that rewards SHS heads based on the record of no examination fraud during WASSCE as “this will checkmate the current KPI for school heads on WASSCE pass rate.”
“GES (should) sanction staff involved in examination fraud per their code of conduct,” the report added.
The 2022 WASSCE, which was written by Ghana alone this time round, commenced on August 1, with Visual Art Project Work options.
The theory papers started on Monday, August 22, 2022. On September 27, 2022, the pre-tertiary exam came to an end. 422,883 candidates from 977 schools sat for this year’s exams.
There was a collaboration between WAEC and the National Intelligence Bureau (NIB) to monitor the printing of questions to prevent leakage.
Despite the joint efforts, questions for the Elective Mathematics 2 and Core Mathematics 2 papers leaked nine hours before their scheduled time to be written, Africa Education Watch reported.
It noted that “the involvement of the National Intelligence Bureau (NIB), a.k.a BNI, in the printing of questions led to minimal incidences of question leakages compared to WASSCE 2021.”
The organization’s 2021 WASSCE Monitoring Report found out that 11 papers had leaked.
Radio and TV presenter Blessed Godsbrain Smart, popularly known as Captain Smart, has been released on bail hours after he was picked up by the National Intelligence Bureau (NIB).
The Media General journalist was picked up by operatives of the NIB on the evening of Wednesday, 19 October 2022 as he went home from work.
His car was allegedly crossed by the operatives in traffic and then whisked away.
The journalist was subsequently interrogated in the presence of some senior officials of Media General.
It is unclear why he has been detained by the intelligence agency.
On Tuesday, 18 October 2022, the government, through a statement from the ministry of information, threatened to sue the journalist for alleging in a video published and circulated by Onua TV on 17 October 2022 that President Akufo-Addo was actively involved in illegal mining activities.
The publication, according to the statement signed by Deputy Information Minister Fatimatu Abubakar, impugns the character and integrity of the president, as well as the credibility and commitment of his fight against illegal and irresponsible mining.
In response to the content of the said video, the government stated that:
ii. The content propagated in the video is false, malicious and without basis. It is nothing but an act of unethical and irresponsible journalism;
iii. The video is intended to court disaffection for the government and undermine efforts to fight illegal mining in the country; and
iv. Government’s commitment to the fight against illegal mining is unwavering.
The statement disclosed that the government had decided to refer the matter to the National Media Commission for review and adjudication.
“It is, however, imperative to note that the aforementioned action is without prejudice to the government’s right to seek further legal action against Mr Smart, Onua TV and Media General,” the statement added.
The government further noted that it is “concerned about the spread of disinformation and misinformation, clothed under the pretext of journalistic discretion and free expression and will continue to hold Media General in high esteem and urge them not to compromise their standards for validating information, ethical practice, and avoiding conjecture in the presentation of Radio and TV presenter Blessed Godsbrain Smart, popularly known as Captain Smart, has been released on bail hours after he was picked up by the National Intelligence Bureau (NIB).
National Venture Bank ends arrangement of all agreement staff.
The National Venture Bank, (NIB), has ended the arrangement of all agreement staff.
A letter of end sent to the influenced staff read to some extent “that administration has chosen to end your agreement on June 30, 2019.”
The letter included that the influenced staff must hand over “their Staff ID, Friday wear and other corporate embellishments” to the executives and continue on a terminal Seven days leave at the very latest June 21, 2019.
The agreement staff had before been educated regarding the choice not to restore their agreement after it termination date. The greater part of the influenced staff were relied upon to leave in October and November 2019.
In any case, one of the influenced laborers who addressed Starrfm.com.gh expressed that they were out of nowhere educated on Monday that administration has chosen to cut off the association with them toward the finish of June.
A senior administration part who affirmed the news to Starrfm.com.gh on state of obscurity expressed that the choice is a piece of endeavors to rebuild the activities of the bank and make it progressively beneficial.
This move comes a long time after the Bank of Ghana named the prompt past Nation Senior Accomplice of PricewaterhouseCoopers, Ghana, Mr. Felix E. Addo as Counselor for National Speculation Bank (NIB).
The national bank had early reported the arrangement of a guide for the Bank absent a lot of detail of who the counsel was.
In May 2019, the Bank of Ghana additionally designated Mr. Samuel Sarpong as Overseeing Executive of the Bank.
