NIB must be killed, recording $1 profit since 2013 is unacceptable – Franklin Cudjoe
Franklin Cudjoe
Franklin Cudjoe, Founding President of IMANI Africa, has called for the closure of the National Investment Bank (NIB) instead of further capital injections.
Read full articleIn a Facebook post, Cudjoe argued against the government's plan to inject more funds into the bank, which has not recorded any profit since 2013. He criticized the bank for being a drain on public resources due to political mismanagement.
"That bank must just be killed. Politicians of all shades have pillaged the state bank, 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 debt-distressed states, we continue this shackling. This is completely unacceptable!" Cudjoe stated.
His remarks come as Finance Minister Dr. Mohammed Amin Adam has announced that the Ministry of Finance and the Bank of Ghana are set to implement a comprehensive plan to address NIB's challenges, describing it as credible and cost-effective.
