Finance Minister Dr Cassiel Ato Forson has announced that the government has taken a decisive step to recapitalise the National Investment Bank (NIB) in a move aimed at strengthening the bank’s operations and restoring its financial viability. 

Speaking at the inauguration of the newly constituted nine-member Board of Directors of NIB, Dr Forson described the recapitalisation as “bold” and vital to the country’s financial sector recovery.

“I am pleased to announce that the government has made a bold decision to recapitalise NIB,” the Minister said on Monday. 

He noted that further details of the recapitalisation plan would be made public during the upcoming mid-year budget review. 

The initiative, he explained, is designed to empower NIB to operate effectively as a strategic development bank.

Dr Forson also stressed the importance of professionalism and independence under the new board’s leadership. 

“Under this new leadership, NIB will operate with the independence and professionalism it deserves,” he said. 

The newly inaugurated board is chaired by Mr Frank Adu Jnr, who also assumes the role of Managing Director of the bank.

The other members of the board include Dr Doli-wura Awushi Abdul-Malik Seidu Zakarai (Managing Director),Dr Othniel Ekow Kwainoe,  Ebenezer Kwaku Addo, Dr Mrs Mercy Naa Aku Ofei-Koranteng, Dr Shani Bashiru, Mr Max George Cobbina, Dr Kwasi Akyem Apea-Kubi, and Dr Alfred Attuquaye Botchway. 

Dr Forson congratulated the board members, expressing confidence in their ability to restore the bank’s credibility and lead it into a new era of growth