Minority hits back at Annoh-Dompreh over NIB’s future

ENTERTAINMENT

MP for Bolgatanga Central and deputy ranking on the Finance Committee of Parliament, Isaac Adongo

The Minority Caucus in Parliament has taken a dig at the Majority Chief Whip, Frank Annoh-Dompreh, following his comments on the challenges faced by the National Investment Bank (NIB).

Annoh-Dompreh dismissed claims by the Minority about the government’s intention to collapse the bank.

Mr. Annoh-Dompreh has challenged the Minority to provide evidence if they believe there were sinister intentions behind the alleged merger.

The Majority Chief Whip had asked the Minority to stop politicizing the issue and instead urge the government to recapitalize the bank.

Reacting to this, Ranking Member of Parliament’s Finance Committee, Isaac Adongo justified the Minority’s stance on NIB.

“We provided very concrete solutions to NIB. Throughout his (Annoh-Dompreh’s) conversation, he did not provide one solution. So between us and him, who is politicizing the issue? He admits that since 2017, NIB has failed to publish audited financial reports required by law. That is the biggest red flag that anybody with the slightest knowledge of finance would be worried about, and if I were the MD of NIB, I would shut up. Annoh-Dompreh doesn’t understand the seriousness of this,” he said on Accra-based Citi FM.

“The NIB has outsourced its treasury function to a brokerage firm, in which they share a profit of 60% to the brokerage firm and 40% to NIB when NIB has a full-fledged treasury department headed by a general manager…This is not an easy matter. This is a technical financial subject, and we shouldn’t be allowing people who just come and speak English to be discussing technical matters that are beyond them,” he added.

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