Gov't greenlights GH¢2.3b for restructuring and recapitalizing NIB

The government has approved GH¢2.3 billion for the restructuring and recapitalization of the National Investment Bank (NIB).

The first tranche of GH¢400 million is set to be transferred to the bank by the end of May 2024.

Announcing the approval during the Ministry of Finance’s monthly briefing, Dr. Mohammed Amin Adam highlighted that the restructuring and recapitalization process aims to strengthen the governance structure, enhance operational efficiency, improve supervision, and bolster risk management to ensure the financial viability of NIB.

Dr. Adam stated, “Ladies and gentlemen, as part of the implementation of the PC-PEG, the Cabinet has approved the plan for restructuring and recapitalizing the National Investment Bank (NIB). This will involve a programmed equity injection of about GH¢2.3 billion over the next 12 months, with the first tranche of GH¢400 million expected to be transferred to NIB before the end of this month,

The plan includes measures to enhance the bank’s governance structure and operational efficiency, improve supervision, and strengthen risk management, all aimed at sustaining NIB's financial viability.

In September 2023, the Minority Caucus in Parliament alleged that the government was plotting to sell the National Investment Bank to its cronies. They claimed that the announced plans to either merge NIB with the Agricultural Development Bank or collapse it were part of this scheme.

“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 ADB for themselves in state capture,”

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