Managing NIB and my parliamentary ambitions is easy – Tweneboa Kodua Fokuo

The Managing Director of the struggling National Investment Bank (NIB), Tweneboa Kodua Fokuo has hit back at critics who have called for a revocation of his appointment under the grounds that he is the New Patriotic Party’s (NPP) Parliamentary Candidate for the upcoming 2024 election.

Bright Simons, Vice President of IMANI Africa and the opposition National Democratic Congress (NDC) have called for the revocation of his appointment. They also questioned the decision to appoint a Parliamentary Candidate as an MD of a struggling state bank.

Tweneboa Kodua Fokuo assumed official duties on May 13, 2024, replacing Samuel Sarpong as the leader of the struggling bank.

He told Joy FM’s Top Story that he can effectively balance his political and managerial roles.

“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,” Fokuo said.

Mr Fokuo’s appointment has been met with widespread scrutiny with many using the bank’s current state as a reason to demand his immediate resignation or axing.

One of the critics who say the bank’s position is not conducive for Tweneboa Kodua Fokuo is Pru East MP, Kwabena Donkor. The former Power Minister said an ailing bank operating on losses for the past five years deserves someone who is politically independent and focused mind to be in charge.

“Let us not pretend like NIB is out of the woods; it is a loss-making entity. It has made losses for the last 5 years. They have structural problems, we are aware of all those things,” he noted.