Africa-Press – Ghana. The Minority in Parliament has proffered solutions to government in stopping the sale of the National Investment Bank (NIB) to the ADB Bank Ghana Limited.
Minority Spokesperson on Finance Isaac Adongo says the move smacks of conflict of interest since the Bank of Ghana (BoG) is said to own majority stake in ADB.
“The law requires that if the Bank of Ghana is not satisfied with NIB, it has several options including placing NIB under administration like they placed uniBank under administration, revoke the licence of NIB because that is their property,” he told journalists in Accra on Thursday, September 28.
“But in revoking the licence, they must take steps to ensure that depositors’ funds are protected by placing it under receivership and proper supervision to close the phase of life.”
The Bolgatanga Central Member of Parliament (MP), however, observed that government has no intentions of taking a regulatory action on the state of NIB.
“They are not intending to place NIB under Article 930 but they are trying to find a back-door approach without regard to the law that set up NIB.”
He said the solution to the current crisis of NIB is to restructure its finances to balance its sheets and “swap all the NIB debts that it owes to government”.
Mr Adongo, therefore, served notice that they will kick against any move to offset assets of NIB to ADB.
Joining the presser is former Ranking Member on the Finance Committee of Parliament Dr Cassiel Ato Forson, who is the current Minority Leader.
He said the Minority will document its recommendations to the government’s Economic Management Team as well as the Governor of the Bank of Ghana “telling them we are ready to fix this situation because Ghana is for all of us”.
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