{"id":13463,"date":"2023-10-26T02:33:55","date_gmt":"2023-10-26T02:33:55","guid":{"rendered":"https:\/\/expressnewsghana.com\/?p=13463"},"modified":"2023-10-26T02:33:55","modified_gmt":"2023-10-26T02:33:55","slug":"nib-troubles-started-under-ndc-govt-annoh-dompreh-replies-minority","status":"publish","type":"post","link":"https:\/\/expressnewsghana.com\/?p=13463","title":{"rendered":"NIB Troubles Started Under NDC Govt &#8211; Annoh-Dompreh replies Minority"},"content":{"rendered":"<p><strong>The Majority Chief Whip, Hon Frank Annoh-Dompreh, has charged the Minority caucus in Parliament to always do due diligence and cross check their facts before coming to accused government of mismanaging the economy.<\/strong><\/p>\n<p>According to him, the various allegations made by the Minority against the National Investment Bank (NIB) were completely untruth and urged them to avoid politicizing financial matters.<\/p>\n<p>\u201cIf they don\u2019t have the facts, they should be patient, investigate, and get all the information before they come,&#8221; he told members of the Parliamentary Press Corps in Parliament on Wednesday October 25, 2023.<\/p>\n<p>The Minority had earlier in a press conference accused the government and the Bank of Ghana (BoG) of plotting to sell the NIB to the Agricultural Development Bank (ADB). They argued that instead of the acquisition and liquidation of NIB, recapitalization should be the focus, citing a capitalization deficit of GH\u00a22.4 billion as the bank\u2019s biggest challenge.<\/p>\n<figure id=\"attachment_13465\" aria-describedby=\"caption-attachment-13465\" style=\"width: 2425px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-13465\" src=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043.jpg\" alt=\"\" width=\"2425\" height=\"1439\" srcset=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043.jpg 2425w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043-250x148.jpg 250w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043-1000x593.jpg 1000w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043-768x456.jpg 768w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043-1536x911.jpg 1536w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043-2048x1215.jpg 2048w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100325_043-600x356.jpg 600w\" sizes=\"(max-width: 2425px) 100vw, 2425px\" \/><figcaption id=\"caption-attachment-13465\" class=\"wp-caption-text\">Hon Annoh-Dompreh<\/figcaption><\/figure>\n<p>Per the minority analysis, restructuring NIB\u2019s balance sheet could generate over GH\u00a22.75 billion to address the deficit.<\/p>\n<p>But Hon Annoh-Dompreh, pointed out that the NIB\u2019s troubles began under the previous National Democratic Congress (NDC) government when a GH\u00a2500 million loan was disbursed to non-financial institutions, which remains unrecovered.<\/p>\n<p>Nevertheless, he said he would support the Minority in Parliament\u2019s call on the central government to recapitalize the National Investment Bank to aid in the development of Ghana\u2019s industrial sector.<\/p>\n<p>The Nsawam \/Adoagyir lawmaker explained that the core mandate of the NIB is to support Ghana\u2019s industrial drive and therefore what the government should be encouraged and urged to do is to help in its recapitalization.<\/p>\n<p>Annoh-Dompreh also explained that the Minister of Finance had led efforts to raise GH\u00a2800 million and injected an additional GH\u00a257 million into the bank\u2019s operations to bolster its profits and activities.<\/p>\n<p>The Majority Whip acknowledged the government\u2019s efforts but stressed that due to challenges in the financial sector, the NIB still requires recapitalization and capital support to remain relevant in the country\u2019s industrial development.<\/p>\n<p>He however reiterated the need to avoid negative perceptions that could harm the bank\u2019s reputation.<\/p>\n<p>\u201cSo the least our colleagues can do is to at least be careful when commenting about a bank that is mandated by law to help shore up and develop our industry sector,&#8221; he said.<\/p>\n<p><strong>Source: expressnewsghana.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Majority Chief Whip, Hon Frank Annoh-Dompreh, has charged the Minority caucus in Parliament to always do due diligence and cross check their facts before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[3294],"class_list":["post-13463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-nib-troubles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NIB Troubles Started Under NDC Govt - Annoh-Dompreh replies Minority - Express News Ghana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/expressnewsghana.com\/?p=13463\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NIB Troubles Started Under NDC Govt - Annoh-Dompreh replies Minority - Express News Ghana\" \/>\n<meta property=\"og:description\" content=\"The Majority Chief Whip, Hon Frank Annoh-Dompreh, has charged the Minority caucus in Parliament to always do due diligence and cross check their facts before [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/expressnewsghana.com\/?p=13463\" \/>\n<meta property=\"og:site_name\" content=\"Express News Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/web.facebook.com\/nyaaba.felix.3\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T02:33:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2023\/10\/IMG_20231025_100236_325-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1408\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"For more information, please contact ExpressNewsGhana via email at expressnewsgh@gmail.com or WhatsApp at +233 0543 900 732\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@FelixNyaaba3\" \/>\n<meta name=\"twitter:site\" content=\"@FelixNyaaba3\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"For more information, please contact ExpressNewsGhana via email at expressnewsgh@gmail.com or WhatsApp at +233 0543 900 732\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/expressnewsghana.com\\\/?p=13463#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/expressnewsghana.com\\\/?p=13463\"},\"author\":{\"name\":\"For more information, please contact ExpressNewsGhana via email at expressnewsgh@gmail.com or WhatsApp at +233 0543 900 732\",\"@id\":\"https:\\\/\\\/expressnewsghana.com\\\/#\\\/schema\\\/person\\\/6b5e797531449c1dcb8747e970ceab0c\"},\"headline\":\"NIB Troubles Started Under NDC Govt &#8211; 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