Banking Consultant Dr. Richmond Atuahene says calls for the removal of Tweneboah Kodua Fokuo as Managing Director of the National Investment Bank are without any basis.
The NDC Minority have given government up to Friday to revoke the appointment of Mr. Fokuo who is also the NPPs Parliamentary Candidate for Manso Nlwanta in the Ashanti Region.
The Minority insist a person with divided attention cannot be appointed to head a struggling bank.
Nonetheless Dr. Richmond Atuahene says once the person in question has met all the criteria set to head a bank by Bank of Ghana, the call for his removal is not justified.
Dr Richard Atuahene believed that, if the concern raised by the minority group is about time commitment, then they have no reason to protest for his removal.
In an interview with Despite Media Sampson Kwame Nyamekye, Dr Atuahene said the President of Ghana, His Excellency Nana Addo Dankwa Akufo Ado has never breached any constitution or statutory for appointing Mr Fokuo as the new MD since he followed all the norms before the appointment
Reacting to CSOs assertion that the man in question is politically exposed and therefore cannot hold such position; the banking consultant again said their concern is unjustified since there is no law against a political figure holding a public office when he qualifies.
PROFILE ABOUT NEW MANAGING DIRECTOR
Mr. Fokuo is a risk expert with over 15years in Bank Risk Management.
Until now he was the Deputy Managing Director of National Investment Bank Ghana PLC (NIB); having joined the Bank since 2019.
At NIB, he has been instrumental in the turn-around journey of the bank and has been specifically in-charge of the Risk Management and Operations of the Bank.
Joining NIB in 2019 was timely as the bank needed the full implementation of its Enterprise Risk Model (ERM) to kickstart its transformational journey. Execution of the ERM Model and the introduction of best practice in governance have created the necessary controlled environment required for sound banking.
Again, Mr. Fokuo has revamped the Bank’s Operations to ensure resilience and application of standard guidelines across the bank for rigour and efficiency.
Prior to joining the National Investment Bank, Mr. Fokuo was appointed as the Head of Credit Risk of First National Bank; a subsidiary of FirstRand Bank Group of South Africa.
Between 2008 and 2016, Mr. Fokuo worked with Barclays Bank Ghana (now ABSA) where he rose through the ranks becoming a Senior Risk Control Manager and Country Risk Champion.
Mr. Fokuo is the current Board Chairman of Nexans Ghana Limited, and a Board member at State Housing Company Limited.
He holds a BSc. Degree in Natural Resources Management from the Kwame Nkrumah University of Science and Technology (KNUST); an MBA in Finance from the University of Wales, UK; and an Advanced Commercial Risk Certificate from the IFS School of Finance, UK.
Source: Peacefmonline.com
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