The Dean of the University of Cape Coast Business School, Professor John Gatsi has urged government to ensure that the National Investment Bank (NIB) is recapitalized as was stated in the 2024 budget statement.
Finance Minister Ken Ofori-Atta presenting the 2024 budget before Parliament said a provision of GH¢4 billion has been made to address the liquidity issues of the NIB and other distressed Special Deposit-taking Institutions (SDIs) in the country.
Reacting to this on Accra-based TV3, Prof. Gatsi warned of dire consequences if government does not fulfill this promise.
“It has been on the table for a long time that the Minister should use his office to help capitalize NIB. NIB has long been financing development projects in the country that cut across agriculture, the investment in rubber plantations. They support all kinds of construction in the country so it is supposed to be a strategic bank to foster a lot of developments.
Now that the Minister had indicated in the budget that they are going to capitalize the bank, the only thing one could say is that, they should be focused and recapitalize the bank if not so, the demise of the bank will be blamed on the government” he warned.
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