Finance Minister Ato Forson Inaugurates New NIB Board, Announces Bold Recapitalization Plan

By Joylinda Laryea / July 9, 2025

Finance Minister Hon. Cassiel Ato Forson has inaugurated a new 9-member Board of Directors for the National Investment Bank (NIB), signaling a fresh chapter for the state-owned bank aimed at restoring confidence and driving professionalism in its operations.

The newly constituted board is chaired by renowned banker Mr. Frank Adu Jnr., with Dr. Doli-wura Awushi Abdul-Malik Seidu Zakarai serving as Managing Director. Other members of the board include Hon. Dr. Othniel Ekow Kwainoe, Hon. 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.

In a statement shared on his official Facebook page, the Finance Minister praised the caliber of professionals selected and expressed optimism about the bank’s future under their leadership.

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

Hon. Ato Forson also revealed that the government has taken a “bold decision” to recapitalize the National Investment Bank as part of efforts to strengthen its balance sheet and reposition it to better serve Ghana’s industrial and development financing needs.

He noted that comprehensive details of the recapitalization plan will be made public during the upcoming mid-year budget review.

“I extend my congratulations to the newly inaugurated board… I am confident that with this team in place, the NIB will regain its strategic role in national development,” he added.

The recapitalization of NIB is seen as a critical move in boosting confidence in Ghana’s banking sector and revitalizing one of the country’s key state-owned financial institutions.